


Energy costs are suddenly a big issue in New Jersey. Who knew that voters would get angry over soaring electricity bills? This is from The Wall Street Journal:
Electricity prices have jumped 6% nationwide over the last year, about twice as much as overall inflation. They’re now becoming a political flashpoint, as the tightening race for New Jersey Governor illustrates.
Democrats downplayed surging electricity prices during the Biden Presidency. Residential electric rates increased 32% over the last five years nationwide, and even more in states like New Jersey (53%) and California (63%). Now Democrats are blaming the GOP’s new tax bill, which rolls back future subsidies for solar and wind. This doesn’t wash.
Projects can still qualify for tax credits as long as they begin operating before the end of 2027 or start construction by next July 4. That means a wind project in the pipeline can continue to claim tax credits for 10 more years once it begins operating. The real problem is hostility to fossil fuels.
Hostility to fossil fuels? I guess so. In this case, the hostility has brought about this result of high prices. Back to the editorial:
New Jersey’s rates spiked 22% this summer as tight power supplies pushed up wholesale prices. Federal emissions regulations, the state’s renewable energy mandate and rich green-energy subsidies have made baseload nuclear and coal plants uneconomic. Five large coal plants and one nuclear reactor in the state have shut down since 2017.
Another green energy disaster and people in New Jersey are getting a good taste of it. The love affair with “green” and the irrational hatred of fossil fuels has created energy scarcity, which is a fancy way of saying that your energy bill will blow your mind.
Who expected the collapse of the blue state model to start in New Jersey over Fossil Fuel Derangement Syndrome? I didn’t, but it’s great to watch.
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Image: Free image, Pixabay license.