oilpricehace 57d
What the Fall of the Telegraph Says About Fossil Fuels
The global electric power business is changing. The economic hegemony of fossil fuels (and perhaps nuclear as well) is gradually being undermined by the adoption of renewable generating technologies such as solar and wind. This economic and technological transition resembles warfare or a sporting event with distinct winners and losers. Our argument is based on a stunningly non-controversial premise—namely, that superior, lower-cost technologies producing an identical commodity eventually achieve dominance. Let’s look at a previous...
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