Re:What if carbon removal becomes the new Big Oil?
by kvetching on Sunday July 26, 2020 @09:58AM
(#23957085)
Renewables are crony capitalism. Without consistent government subsidies, incentives, grants, etc...they are not profitable.
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Re:What if carbon removal becomes the new Big Oil?
by dragonwriter on Sunday July 26, 2020 @10:06AM
(#23957130)
No, renewables are public goods as they have positive net externalities, that is, a substantial share of the benefits of their use accrues to people outside the transaction. Well, relative to fossil fuels, at least; it's more accurate to say that fossil fuels are public harms with a substantial net negative externality.
Government action in the form of subsidizing the former and/or taxing the latter is necessary to internalize the externalities so that the relative net cost (benefit) is born by (accrues to) the participants in the transaction.