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Hoover Institute, Defining Ideas, February
19, 2019, 2 pgs.
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Reviewer Comments: The author focuses on the
actual, real world, energy supply industry.
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Summary:
Dr. Epstein maintains that fossil fuels will remain the main source of world
-wide energy for the 'foreseeable' future. This, even though there are many
groups exerting political power to subsidize wind and solar energy sources. A
'fatal' problem for these is that wind does not blow steadily and the sun does
not shine at night nor in stormy weather. And they also do produce energy when
it is not needed.
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He believes that instead of subsidies for
wind and solar investment should be focused on making the existing fossil fules
more inexpensive. He points to the development of 'fracking' which has
dramatically increased supply while reducing costs. He notes that the
world-wide increase in Carbon Dioxide since 1950 had not created a significant
negative effect.
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He also notes that there has been no
breakdown in the world economic system. In fact the U.S. economy has been
expanding. Turning to a comparison between the FDR created New Deal and the GND
proposed by Alexandria Ocasio-Cortez he first lists the positive and negative
results of the former. For the latter he has only negative actions and results
to discuss.
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He descibes some of the specific mandates
being proposed that have nothing to do with climate or even 'green' energy.
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