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gregvp's avatar

I strongly recommend the book "The Price is Wrong" by Brett Christophers for an in depth look at renewable energy markets. Christophers makes the point that under market systems, it is not energy prices or PV panel prices or wind turbine prices that determine the level of investment in renewable energy. It is expected profit, or return on investment.

He makes the further point that everywhere around the world, renewables are subsidised, In the US, for PV there is the Investment Tax Credit, and for wind, the Production Tax Credit. For both, there are various de-risking schemes to blunt the effects of electricity price volatility. So the price of gas may or may not matter: it depends.

The key point of the book, that investment depends on profit, not price, is not widely appreciated.

https://www.amazon.com/Price-Wrong-Capitalism-Wont-Planet/dp/1804292303

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gregvp's avatar

The hypothetical, "if we could affordably pull carbon from the atmosphere" is true. The search phrase you want is "enhanced weathering of olivine minerals". The required technologies--mining, rock crushing, bulk land and sea transport--already exist at gigaton scales so there are no supply chain constraints. The cost is of the order of hundreds of billions per year, small for a $100 trillion world economy.

There is a small but growing scientific literature, for example https://www.sciencedirect.com/science/article/pii/S0016703723004349

(This is one of many little things that led me to my earlier comment that global political elites do not believe in climate change. There is, in fact, an easy, cheap, and fast solution to the problem.)

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