“We have set an example for the world that Pakistan is an attractive market for investment in coal mining and coal based power production.” Meanwhile, US electric utilities are off on their quixotic wind/solar adventure.
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… because it punishes consumers. A Philippine energy official said that a “carbon tax may not be an effective way of reducing carbon emissions,” and that it would defeat the country’s industrial aspirations since the coal plants are the most “cost effective option” in meeting the energy needs of such kind of economy.
Wind (with needed back-up) costs about $107/MWh vs. existing coal at $39.90/MWh, according to the Department of Energy’s 2018 National Coal Council report, “Power Reset.”
Voters in Washington state just overwhelmingly voted against a CO2 tax because it only makes energy more expensive without providing any benefits. Here’s a more formal analysis from the Institute for Energy Research and Capital Alpha Partners.
That’s what a new study published this week in the Proceedings of the National Academy of Sciences reports. CO2 is plant food. Global population is growing. We will need more food. Burn More Coal!