In climate pledge, Xi says China will not build new coal-fired power projects abroadhttps://www.reuters.com/world/china/xi-says-china-aims-provide-2-bln-vaccine-doses-by-year-end-2021-09-21/ …
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Replying to @DanielleFong
Not sure it is obvious, but in this mid-transition phase, coal plants are still being built in China, and coal power plants are a big financial advantage to economic developing countries like India and Pakistan, etc. Sustainable wind and solar are too expensive at this time.
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Replying to @perk
they're cheap for *energy*, but they need backup in the form of storage or peakers. storage alone is still pricey-ish compared to baseload coal, but it's starting to find purchase in expanding niches
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Replying to @DanielleFong
True, solar and wind are more affordable every year. With the current subsidies, and emission regulations, in the US make them cheaper than a new coal plant, but those are really big subsidies and harsh emission regs that most countries cannot afford. Yeah, no electricity kills 2
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Replying to @perk @DanielleFong
A proposed plan is developed countries, primarily the US, should subsidize solar, wind, storage, at the same rates as local, for developing countries worldwide. It is fair, but would be a sustainstial lifestyle hit for the US.
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Replying to @perk
would it really, though? we indirectly subsidise the entire economy with quantitative easing and direct purchasing of stocks, keeping the cost of capital for banks super duper low. governments could offer such financing to renewable energy & storage installations & stimulate, too
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Replying to @DanielleFong
I don't know. But I will have a better answer in 3 years when we see the effects of this historical QE. Because if it works out, the US can give every human on earth $10,000 dollars with no bad economic effects! Truly, it will be the golden age!
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Replying to @perk
I mean, we're supposed to have had 10 hour work weeks decades ago. The power of machines, of mass manufacturing, it's immense. Much of the economic stimulus of the past is just to enhance *consumer* demand; this is nearly the logical conclusion
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Replying to @DanielleFong
Well true. i.e.: I am fascinated by this "van life" . You don't really need much income because you don't buy much. What does that do to jobs long term? Our (US) only problem is that we "off shored" all production to China, Taiwan , Mexico etc. Eventually, that will be a problem.
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yeah, originally it was just assembly. now it's everything but the chips and the ip! and even then...for how long
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