Trump said wind power is for ‘stupid people.’ Five days later, European countries agreed to build one of the planet’s biggest wind farms | CNN
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As President Trump tries to strangle wind projects in the US, nine European countries have signed a deal to build a vast offshore wind farm in the North Sea, the epicenter of the continent’s oil and gas industry
  • WanderingThoughtsEnglish
    14·
    2 days ago

    The fossil fuel industry wants to continue to make profits

    and because renewables just don’t give the same guaranteed profit level as fossil fuels.

    Returns on investments in fossil fuels typically range between 10-20 percent, while for a renewables project, 5-8 percent is the norm, Reuters reported in June 2023.

      • BillyClark@piefed.socialEnglish
        6·
        2 days ago

        There’s also a huge barrier to entry in fossil fuels, since the existing industry owns the oil wells and refineries.

        Any dumb asshole can just go build a wind turbine.

        • vzqq@lemmy.blahaj.zoneEnglish
          3·
          2 days ago

          There’s also a huge barrier to entry in fossil fuels, since the existing industry owns the oil wells and refineries.

          And the patents you need to license to build them.

          • BillyClark@piefed.socialEnglish
            1·
            2 days ago

            Well, patents only last for 20 years. I’m sure they have newer processes that have been patented in the last 20 years, but I’m also sure that they are using refineries more than 20 years old.