The Daily Caller reports on why China is no longer building wind turbines, and speaks with Myron Ebell on their decision.
“China is not the only country that has built so much wind capacity that their electric grid can’t handle the wild fluctuations in output, and it won’t be the last,” Myron Ebell, director of the Center for Energy and Environment at the free market Competitive Enterprise Institute, told The Daily Caller News Foundation. “The United States should learn from these incredibly expensive mistakes. Instead, Obama’s EPA plows ahead with regulations that will duplicate the worst outcomes—skyrocketing electric prices together with unpredictable interruptions in supply.”
“Gigantic misallocations of capital have been endemic in all aspects of China’s economic buildup. Look at the brand new cities that are empty,” Ebell continued. “Now that China’s boom has cooled down and they don’t have as many trillions of dollars of spare cash, they are not going to be able to invest in everything, but will have to make choices based on profit and loss. Wind and solar power are obviously two of the sectors where investment will be scaled down dramatically.”
Read the full article at the Daily Caller.