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Natural Gas Producers: Will Beat Renewable Energy Every Time
Frezza argues that if there was a symbol or a myth from long ago to represent our economic policy it would be Cassandra. A Greek myth, Cassandra had the ability to see the future, yet no one believed her. He likens this myth to that of America and the Western world, as we drive our fiscal selves off a cliff that never seems to find bottom. Making the same mistakes year after year until it becomes habit. Frezza believes strongly that the natural gas renaissance will smoke out the slowly emerging renewable energy sector and the wave of subsidies that drive the industry.
Natural gas has become too abundant and too cheap. At $2.50 per 1000 cubic feet it is a no brainer. Governments will continue pushing renewable energy and it has already cost taxpayers millions. It is easy to take a $100 million dollars and a high five from your federal government in the hopes of turning a science project into feasible productive technology. Even the author agrees that that kind of cash, in a non-dilutive form is next to impossible to turn down.
The government needs to acknowledge it is wasting taxpayer money. The free market is already beginning to speak for itself as private landowners become natural gas millionaires overnight. For the government to discontinue throwing good money after bad it has to admit there is not enough money in the world, in the form of government subsidies that can turn losers into viable, sustainable businesses.
Frezza states that, "Inherently intermittent energy sources can never be relied on to supply base grid power." The indebtedness of America is just another stark reminder that we never had the luxury of sitting back and waiting for many of these technologies or trends to take flight and become viable.
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