James M. Taylor Senior Fellow, Environment Policy The Heartland Institute JamesTaylorPolicy.com

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Presentation transcript:

James M. Taylor Senior Fellow, Environment Policy The Heartland Institute JamesTaylorPolicy.com

North Korea: Every day is Earth Day!

Which Would You Choose?

Electricity Prices by State

What Are the Costs of Competing Power Sources? Source: Gilbert Metcalf, Professor of Economics, Tufts University (2007) Levelized production costs per kWh in tax regime providing no investment preferences: Coal: 3.79 Clean coal: 4.37(+ 15 %) Natural gas: 5.61(+48 %) Nuclear: 5.94(+57 %) Wind: 6.64(+75 %) Solar thermal: 18.82(+570 %) Solar photovoltaic: 37.39(+887 %)

Levelized Electricity Costs: 2016 Source: U.S. Energy Information Administration Levelized production costs per mWh in tax regime providing no investment preferences: Natural gas: 63.1 Natural gas (with CCS) 89.3(+42%) Coal: 94.8(+ 50 %) Clean coal (with CCS): 136.2(+116 %) Nuclear: 113.9(+81%) Onshore Wind: 145.5(+131%) 23% capacity Offshore Wind: 361.8(+474%) 23% capacity Solar thermal: 311.8(+394 %) Solar photovoltaic: 210.7(+234 %)

Federal Electricity Subsidies Source: U.S. Energy Information Administration

Will Kansas Politicians Ever Learn? Year Renewables KS PriceUS Price mWh7.98 c/kWh mWh mWh DOUBLE

State-by-State Comparison StatePrice % RenKS SavingsPer KS Hs KS MO8.541$280 mil.$250 NE8.391$340 mil.$300 OK7.521$690 mil.$600

But What about Green Jobs?

Spain Economy Beginning in 2005, when unemployment in Spain was 8.7 percent, Spain embarked on a renewable energy program designed to transform the nations economy. Economics professors at Spains King Juan Carlos University published a 2009 study showing that for every 1 green job created, 2.2 jobs were destroyed elsewhere in the economy. Spains unemployment rate has approximately tripled since Spains renewable energy program took effect, and now stands at 26%.

Spain Economy In February 2012 Spains government announced that it can no longer afford to subsidize renewable power and is halting all subsidies.

UK Economy A 2011 study by Verso Economics found that renewable energy mandates in the UK killed 3.7 jobs for every 1 job created.

Compare to Oil and Gas Production Shale oil finds in North Dakota (under private lands) are fueling a oil boom in the state. North Dakotas unemployment rate is 3%. Texas leads the nation in oil and natural gas production. More than 40% of the nations job creation during the recent recession occurred in Texas.

Is China Really Eating Our Lunch?

What About Pollution?

4. Cutting U.S. Emissions Would Make Little Difference (In Million Metric Tons) Source: U.S. Energy Information Administration

Wind Power

Wind Power Impacts Intermittent and unpredictable Land intensive sq. mi. = 1 conventional plant Bird kills (440,000/yr), bat kills, crops

Solar Power

Solar Power Facts and Impacts Intermittent Land intensive – 40 sq. mi. = 1 conventional plant Water intensive – 2x coal, 4x natural gas Most economical where water is scarce

Environmental Priorities Are Determined by Subjective Preferences

Thank You, Any Questions? James M. Taylor Senior Fellow, Environment Policy The Heartland Institute