#USA #Seattle #Net Zero Policy #Discovery Institute #Ken Peterson

Exploring the Financial Burden of Net Zero Policies

A groundbreaking documentary titled What Does It Cost?, directed by Ken Peterson and produced by Hat Rock Capital LLC, delves deep into the implications of net zero energy policies that aim to eliminate fossil fuels in the Pacific Northwest within the next two decades. Released by the Discovery Institute, this compelling film highlights the staggering financial consequences of ambitious legislation passed in Oregon and Washington State, aiming for 100% electricity from zero-emission sources by 2040 and 2045 respectively.

The film argues that critical costs associated with these initiatives have been largely overlooked by policymakers. According to their findings, the estimated financial impact of these policies could reach an astonishing $549.9 billion by 2050, accumulating to a grand total of $1 trillion. In an enlightening quote, Peterson expresses his surprise at the lack of rigorous financial analysis conducted before adopting these ambitious goals:

"I was shocked by two things I learned while making this documentary. First, politicians and those supporting the new laws did not carefully determine what it would cost to comply with them. Second, the costs of trying to obey the laws will be crushing for our citizens."

The documentary draws extensively from a report by Jonathan Lesser and Mitch Rolling, published by Discovery Institute. This report suggests that the transition to net zero in Washington and Oregon would impose severe financial burdens on residents, without delivering meaningful results in terms of global climate change. In fact, it’s projected that electricity rates could increase by a staggering 450%, outpacing the capacity of the current electrical grid. Moreover, the anticipated reduction in temperature would be a mere 0.003 °C.

According to Lesser, this documentary underscores the essential need for reliable and affordable energy, asserting:

"Without those, modern society cannot be sustained. Relying on intermittent wind and solar energy is impractical and ruinously expensive. Moreover, we do not face a choice between poverty and clean energy. Clean and reliable nuclear power can provide the needed energy without sacrificing the environment."

Mitch Rolling, another key contributor to the documentary and a veteran in the energy industry, discusses the widespread misconception regarding the cost-effectiveness of wind and solar energy. He states:

"For most of my career in the energy industry, there has been a widely held belief that wind and solar are the cheapest sources of electricity. The truth, highlighted in this documentary, is that utilizing wind and solar is one of the most expensive and unreliable ways to operate an electric grid, and doing so will have devastating effects for families and businesses who all rely on electricity for their livelihoods."

The release of this documentary coincides with an urgent need for critical discussions around energy policies and their broader implications. As Washington and Oregon push toward these ambitious environmental goals, citizens are left questioning the trade-offs involved and the true costs of energy transition initiatives.

The Discovery Institute, the organization behind this film, remains committed to fostering a culture that emphasizes creativity, innovation, and purpose in critical areas such as economics, education, and technology. Through projects like What Does It Cost?, they aim to inform the public and shape policies that align with both economic realities and environmental sustainability.

As debates surrounding energy policy and climate change continue, What Does It Cost? acts as a crucial call for transparency and careful consideration of the financial burdens that these policies may impose on everyday citizens, serving as a vital resource for understanding the complexities of transitioning to a net zero energy future.