Mark Mills, senior fellow at The Manhattan Institute and partner with Cottonwood Venture Partners recently wrote a report titled “The New Energy Economy: An Exercise In Magical Thinking.” Jessica Morales spoke to Mills about the physics of energy supply and the differences—and relationships—between hydrocarbons and renewable energy.
During the interview, Mills addressed claims that renewable energy is better than hydrocarbons for cost-density and stability. “The claims are typically based on ignoring both direct and indirect subsidies. It’s the entire hydrocarbon economy. 80% of the world’s energy comes from hydrocarbons and 80% of America. Same is true in our electric grid,” he told Hart Energy. “If we tried to make an energy system that didn’t use any hydrocarbons, and just tried to use wind and solar, it would be very unstable and if you tried to make it stable it would be astonishingly expensive.” said Mills.
You can read Mark’s report for The Manhattan Institute here:
The "New Energy Economy": An Exercise in Magical Thinking
To make such a large-scale build out of renewable energy viable in India over the next decade, the country will have to make its electricity grid more responsive and integrated.
Energy firm Innogy, in the process of being broken up by parent RWE and rival E.ON, could team up with oil majors to build offshore wind farms in the booming U.S. market, one of its board members said.
Europe-based Royal Dutch Shell is outpacing U.S.-major counterparts in non-fossil-fuel investing.