This is how the energy economy actually works – and why the EU can’t grasp it — RT Business News
A thoughtful article on how bureaucrats, financial wizards, and lawyers have put Europe on the road to poverty.
Of course, in a world in which subsidized & mandated windmills and solar panels have sprouted across the globe, the foolishness and lack of comprehension described by the author is unfortunately not limited to Europe.
“… They [policymakers] want to bring energy prices down but give little thought to system-level costs. Beholden to an abiding faith in the power of policy to overcome physical constraints, they simply redistribute the burden of a declining energy surplus through an elaborate display of policy legerdemain.
What Europe suffers from most of all is a profound, civilization-level energy illiteracy …”
“… A process that uses one joule of energy to obtain one joule of energy produces no economic surplus. But the energy consumed in that process is not always easy to trace. It may be pulled from the future through debt, or distributed through a complex system of cost-bearing. What matters is that no amount of financial engineering can change the underlying energy balance. Either surplus energy is produced, or it is not. …”