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Response to: The Energy Subsidy Tally (Published by the WSJ)

The argument that subsidy rates for renewable energies are economically draining is severely flawed.  Articles, such as “The Energy Subsidy Tally”, published by the Wall Street Journal, fail to evaluate the performance of renewable energies relative to the oil, gas and coal industries in their nascence. The economic reality of renewables is therefore distorted, often in favor of a political agenda.

Early Energy Subsidies Were Higher Than They Are Now

Adjusting for inflation, the earliest subsidies for the oil, gas and coal industries were significantly higher than the subsidies supporting renewable energies today.  In fact, research by Nancy Pfund and Ben Healey at Yale University found that the government spent an inflation-adjusted $1.8 billion annually on oil and gas subsidies in early years, while current subsidies for renewable energies amount to approximately $400 million, annually[i].  Accounting for 5 percent of the Federal budget, subsidy dollars for “traditional” energy sources poured significant capital into early research and development, leading to innovation and eventually to reduced costs in these industries.

What’s more, renewable energy subsidies have generated greater economic growth than earlier subsidies for oil and gas did.  To this point, Pfund and Healey found that the per-dollar increase in energy generation is ten times higher for current renewable energy subsidies than it was for early oil subsidies. [ii]

Renewables Drive Real Growth

The fact that renewable energy is driving more growth for the U.S. economy than oil and gas did in earlier years should be applauded.  However, commonly used metrics do not take into account the significant investment required to integrate such a new, sophisticated industry into the U.S. market.  Failure to effectively communicate progress in renewable energies therefore leads to misconceptions about the industry’s economic sustainability.

Policy makers should evaluate the renewable energies sector relative to traditional energies at similar periods in their development.  Decisions should be made based on the industry’s proven potential given the benchmarks it has surpassed, despite serious headwinds and lackluster support.  If we’re already generating more power, per subsidy dollar, than our competitors did during their formative years, think of how far innovation in the renewable energy sector could take America.


i,ii Pfund, Nancy and Ben Healey. “Should the Government Subsidize Alternative Energy?” Yale School of Management. http://qn.som.yale.edu/content/should-government-subsidize-alternative-energy

 

 

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    имера витязево официальный сайт санаторий сердечно сосудистые заболевания кисловодск санаторий нептун анапа отзывы

  313. гостиница березка ужур гостиница пилигрим нижний новгород
    тюменский тракт 10 сургут санатории белоруссии на карте белоруссии по областям морской прибой это
    отель бастион в судаке эко алтика горный алтай пятигорск санаторий машук официальный сайт

  314. гостиницы курган воронеж гостиницы недорогие
    отель грейс кипарис нижний новгород отели с бассейном джузеппе казань
    amaks новая истра гостиница маяк москва где можно отдохнуть в анапе недорого

  315. пансионат горный воздух лоо отзывы отель сочи бриз отзывы
    курорты пятигорска с лечением пицунда литфонд отзывы димитрова кисловодск
    пансионат солнышко адлер на карте отель днепр евпатория хостел касл челябинск

  316. гостиницы для отдыха отели в терсколе приэльбрусье
    сосновый берег ольгинка базы отдыха феодосия подобрать отель
    меркюр сочи центр официальный сайт хостел красноярска абхазия пансионат мюссера

  317. бассейн южное взморье арк хостел санкт петербург
    путевка в сочи на 10 дней эко отель мирали приморка отдых на море
    ханты мансийск хостелы хостелы в калуге санаторий мисхор крым на карте

  318. толстый кот тула гостиница медведь тара
    кизнер санаторий хостелы иркутска недорогие в центре гостиница жемчужина губкинский
    санаторий профилакторий металлург санаторий вершина отели белокурихи цены на 2021 год посмотреть

  319. гостиницы нового уренгоя санаторий под самарой
    лоо отзывы ножные вихревые ванны жк версаль сочи отзывы
    каскадная лестница в кисловодске смотреть путевки дешевые пансионаты в подмосковье

  320. бридж резорт туроператор по подмосковью
    ялта отель в горах с бассейном нео гостиница туры цены 2021 на двоих
    кабардинка 3 отдых в геленджике все включено с бассейном чучкалова ульяновская область официальный сайт

  321. где отдохнуть на алтае летом отели в сухуми абхазия цены все включено
    енисейск гостиница работа в гаграх вакансии синегорье юрюзань гостиница
    пансионат малахит отзывы каргасок гостиницы отель мфк горный

  322. абхазия сухуми отдых лор ессентуки
    россия санаторий рф санаторий с лечением сердечно сосудистой системы купить тур в гранд отель жемчужина сочи
    база отдыха приморская новомихайловский автомобилист нижний новгород официальный сайт пансионат солнечная долина

  323. питер отель адмиралтейская гостиница аэрополис хабаровск
    отель беларусь в сочи отели подбор санаторий имени кирова
    гостиницы нижнеудинск пакетный тур в сочи евпатория караимские кенасы

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