Even Worse Than The Last New Deal The Green New Deal

You may have heard about the “Green New Deal” but the press probably hasn’t gone into detail about the details. This isn’t by accident the green new deal should be called the green nightmare.  Don’t take my word on this, here’s the highlights.

Our nation – and our world – face a “perfect storm” of economic and environmental crises that threaten not only the global economy, but life on Earth as we know it. The dire, existential threats of climate change, wars for oil, and a stagnating, crisis-ridden economic system require bold and visionary solutions if we are to leave a livable world to the next generation and beyond.

These looming crises mean that the question facing us in the 2016 election is historically unique. The fate of humanity is in our hands. It is not just a question of what kind of world we want, but whether we will have a world at all.

Building on the concept of FDR’s New Deal, we call for a massive mobilization of our communities, government and the people on the scale of World War II – to transition our energy system and economy to 100% clean, renewable energy by 2030, including a complete phase out of fossil fuels, fracked gas and nuclear power. We propose an ambitious yet secure economic and environmental program that will revive the economy , turn the tide on climate change, and make wars for oil obsolete – allowing us to cut our bloated, dangerous military budget in half. [1]

–Green New Deal Full Language

Woah, 11 years to eliminate all fossil fuels. Hope you didn’t plan on driving anywhere or turning on the lights.  The capital costs of replacing the vehicles and the cost of replacing all those power plants would be bad.  all it 20k per car (really being generous cheapest electric is pushing 40k)  that brings us to 3.4 trillion, call it another trillion to replace fossil fuel generating capacity (being ridiculously generous here). Thats’s 4.4 trillion in upfront capital costs. Sounds doable right up to the point you realize that’s the down payment. Looking at countries that are mostly green they have 4 times the electricity cost we have. So that electric utility industry has revenues of 360 billion/year (thats just private sector) so that an additional 1.08 Trillion!!! / year in costs.  And no we won’t make it up from lower driving costs. Electric cars are cheaper per mile with 11 cent/KWH, but at 40 cents/kwh (what the dutch and Germans Pay) they cost twice as much to operate. That brings us up to another 500 billion/ per year.

So when they say

 Our nation – and our world – face a “perfect storm” of economic and environmental crises that threaten not only the global economy,

They know because they are working really really hard to make it happen.

Shamelessly Lifted From Diamondback

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Drink up That’s it for the Watercooler today. As always it’s an open thread