{"id":2090888,"date":"2023-11-05T10:48:03","date_gmt":"2023-11-05T15:48:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-billionaire-who-donated-500-million-to-finish-the-job-on-coal\/"},"modified":"2023-11-05T10:50:55","modified_gmt":"2023-11-05T15:50:55","slug":"the-billionaire-who-donated-500-million-to-finish-the-job-on-coal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-billionaire-who-donated-500-million-to-finish-the-job-on-coal\/","title":{"rendered":"Billionaire donates $500M to &#8216;End Coal&#8217; campaign."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthe-billionaire-who-donated-500-million-to-finish-the-job-on-coal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2090888&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Billionaire \u200cPhilanthropist Pledges $500 Million to Transition\u200d US to Renewable Energy<\/h2>\n<p>In a bold move, billionaire\u200d philanthropist and former New York Mayor Michael Bloomberg has pledged $500 million\u200b to shift \u200celectricity production in the\u2062 United States \u2064to wind and solar energy, while shutting down coal and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/power-shortages-coming-soon-to-america\/\" title=\"Power Shortages Coming Soon to America\">gas-fired plants<\/a>. This generous \u2064donation from Bloomberg Philanthropies\u2064 aims to accelerate the clean\u2062 energy transition and achieve the\u2062 goal of\u2064 80\u2062 percent \u200crenewable electricity\u2063 generation. With over\u200d 70\u200d percent of the \u2063country&#8217;s coal fleet already retired or closed, this next phase will mark the closure of every last U.S. coal plant.<\/p>\n<p>However, some experts are raising concerns\u200d about the potential risks associated with this transition. Physicist and energy analyst John Droz warns that promoting\u200b renewables as a solution is scientifically \u200cunproven and could destabilize America&#8217;s power grid, leading to long-term outages. Energy \u200dexpert Steven Milloy also cautions that \u2062the\u200b rush to transition to renewables is taking us\u2064 down a dangerous path.<\/p>\n<div class=\"post-figure\" style=\"margin-left:0;margin-right:0;max-width:1200px\">\n<figure style=\"width:900px;margin-left:auto;margin-right:auto\" class=\"alignnone\"><figcaption>  Then-Democratic presidential\u2062 candidate and former\u200d New York \u2063City \u2064Mayor \u2064Mike Bloomberg waits to be introduced during a\u2064 campaign rally \u2064held at Minglewood \u200bHall in Memphis, Tenn., on Feb. 28, 2020. (Joe Raedle\/Getty Images)<\/figcaption><\/figure>\n<\/div>\n<p>Germany&#8217;s experience \u200bwith its \u2063&#8221;Energiewende&#8221; (energy transition) serves as\u200b a cautionary tale. Despite\u200b investing hundreds of billions of euros\u200d in wind\u200c and solar facilities, Germany&#8217;s electricity production has remained flat, while the cost\u200c of electricity has skyrocketed. Wind \u2062and solar have \u200bsignificantly lower capacity factors \u2064compared to\u2062 nuclear or fossil fuels, meaning\u2063 they \u2064don&#8217;t \u200cgenerate as much electricity as their\u200b capacity suggests.<\/p>\n<div class=\"shortcode\">\n<div id=\"in_article_related_stories\" class=\"mx-auto mb-4 w-full max-w-[500px] px-4 text-[16px] leading-[20px] text-[#262626] md:float-right\">\n<div class=\"mb-4 border-b border-black pb-1\">\n<h2 class=\"font-sans text-[16px] font-semibold leading-5 text-black\">More Articles<\/h2>\n<\/div>\n<div class=\"mb-6 flex gap-4\">\n<div class=\"shrink-0 basis-[70px] sm:basis-[120px] md:basis-[268px]\">\n<a href=\"http:\/\/www.theepochtimes.com\/article\/are-wind-turbines-killing-these-100000-pound-mammals-5500496?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<div class=\"relative\" style=\"padding-bottom:60%\"><\/div>\n<p><\/a>\n<\/div>\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-3 sm:line-clamp-6\">\n<a href=\"http:\/\/www.theepochtimes.com\/article\/are-wind-turbines-killing-these-100000-pound-mammals-5500496?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3 class=\"text-sm sm:text-[18px] sm:leading-[22px]\">Are Wind Turbines Killing These 100,000\u200b Pound Mammals?<\/h3>\n<p><\/a>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mb-6 flex gap-4\">\n<div class=\"shrink-0 basis-[70px] sm:basis-[120px] md:basis-[268px]\">\n<a href=\"http:\/\/www.theepochtimes.com\/article\/era-of-unquestioned-and-unchallenged-climate-change-claims-is-over-5503316?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<div class=\"relative\" style=\"padding-bottom:60%\"><\/div>\n<p><\/a>\n<\/div>\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-3 sm:line-clamp-6\">\n<a href=\"http:\/\/www.theepochtimes.com\/article\/era-of-unquestioned-and-unchallenged-climate-change-claims-is-over-5503316?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3 class=\"text-sm sm:text-[18px] sm:leading-[22px]\">Era of\u2063 \u2018Unquestioned and Unchallenged\u2019 Climate Change Claims Is \u200cOver<\/h3>\n<p><\/a>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Germany&#8217;s energy\u200b transition has also resulted\u200c in\u200b an unreliable electric system \u200dand\u200c higher costs for consumers. The closure of coal and\u200d nuclear plants has left the country vulnerable to\u200d weather fluctuations and dependent on neighboring countries\u200b for power. \u200cThe United States is now following a similar path, \u2062with\u2063 coal and natural\u200d gas plants \u200baccounting for the majority\u200d of plant closures. This transition is \u2063putting the\u2062 stability of the electric grid at \u200crisk, as\u2063 the\u200b supply of electricity \u200bmust always match the demand.<\/p>\n<div class=\"post-figure\" style=\"margin-left:0;margin-right:0;max-width:1200px\">\n<figure style=\"width:1200px;margin-left:auto;margin-right:auto\" class=\"alignnone\"><figcaption>  People line up for ice cream \u2063at Glens Custard in the shadow of \u2063the GenOns Cheswick Power Station, which still burns coal to produce \u200d637 megawatts of electricity for the region, in Cheswick, Pa., on June 7, \u20632021. (Jeff Swensen\/Getty \u200bImages)<\/figcaption><\/figure>\n<\/div>\n<p>Experts warn that operating the electric \u200dgrid so close to its limit is a dangerous game. The potential consequences of\u200b a prolonged grid failure are dire, with estimates suggesting\u200d that \u200ba significant portion of the U.S. population could die from hunger, lack of water, and social disruption. Despite\u200c these risks, government policies are pushing utilities to transition away from fossil fuels at an accelerated\u2062 pace.<\/p>\n<p>While wind and solar advocates argue\u2063 that these renewable\u2064 sources will\u2064 reduce energy costs, studies\u200c suggest otherwise. The transition to renewables\u200b has\u200b led to increased electricity bills for consumers, as seen in North Carolina \u2062and Wyoming.\u200c The cost of building a massive transmission\u200b network to connect remote \u2062wind and solar\u200b facilities to urban areas is also passed on to consumers.<\/p>\n<p>Furthermore, the promise of battery storage systems as a \u2064solution\u200b to backup generation is questionable. The \u200ccost of\u2063 storing energy in grid-scale\u2064 batteries is significantly\u2064 higher than storing natural gas, making it an inefficient and costly option.<\/p>\n<div class=\"post-figure\">\n<figure style=\"width:600px\" class=\"alignnone\"><figcaption>  President Joe\u2063 Biden points to a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-billionaire-who-donated-500-million-to-finish-the-job-on-coal\/\" title=\"Billionaire donates 0M to 'End Coal' campaign.\">wind turbine size comparison chart<\/a> during a meeting about \u2062the Federal-State Offshore Wind Implementation Partnership in the Roosevelt Room of the White House\u200c on\u200c June 23,\u200d 2022. (Drew Angerer\/Getty Images)<\/figcaption><\/figure>\n<\/div>\n<p>Higher electricity prices resulting\u200b from the transition to renewables \u200care not only affecting consumers but also \u2062driving manufacturing companies to relocate their facilities to Asia.\u2063 Germany&#8217;s experience serves as a warning that heavy industry\u200d cannot sustainably operate with high power costs and decreasing reliability.<\/p>\n<p>Despite the push for renewables, the reduction in CO2 emissions in\u2062 the United States has been\u200d overshadowed by the\u200c rapid growth of emissions in developing countries like China\u2064 and India. The environmental impact of mining and producing wind turbines \u2063and solar panels is often overlooked in green accounting.<\/p>\n<p>As Europe \u2064reconsiders its transition \u2064to renewables and Asia continues to invest in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-pledges-to-increase-pollution-for-another-decade\/\" title=\"China \u2018Pledges\u2019 to Increase Pollution for Another Decade\">coal-fired power plants<\/a>, the United States is heading towards a potentially dangerous \u2062future. The rush to transition to wind and solar without proper\u200d backup \u200csystems and cost-benefit analysis is a cause for concern\u2063 among experts.<\/p>\n<p> <\/p>\n<h2> What potential risks are associated with\u200d the transition to renewable \u2063energy, particularly in terms of destabilizing the power \u200cgrid?<\/h2>\n<p><span> <\/p>\n<p>While there are\u2064 legitimate \u200cconcerns\u200c surrounding the\u200b transition to renewable energy, it is important\u200d to acknowledge\u2062 the significant benefits that can be \u2064achieved. The shift to wind and\u2062 solar \u200cenergy\u200d will not only \u2062<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/newsom-calls-for-early-end-to-californias-pricey-summer-blend-fuel-as-gas-prices-soar\/\" title=\"Newsom urges early end to costly summer fuel in California amid soaring gas prices.\">reduce greenhouse\u2063 gas emissions<\/a>, but \u2062it will also help create jobs and stimulate economic growth. The $500 \u200dmillion pledge from Bloomberg \u2062Philanthropies will \u200bgo \u2062a \u200blong way\u2064 in supporting this transition and accelerating progress\u200b towards\u2063 a cleaner and more sustainable future.<\/p>\n<p>It\u200d is crucial, however, that this transition is done in a\u200d responsible and strategic \u200bmanner. The\u2063 potential risks associated with destabilizing the power\u2063 grid should not be ignored. It is important to invest in \u200bthe necessary infrastructure \u2062and technologies to\u2064 ensure the reliability and resilience of the electric system. This includes\u200d advancements in energy storage, smart grid technology, and grid management\u200c strategies to effectively integrate renewable energy sources into the grid.<\/p>\n<p>Furthermore,\u2063 it is essential to diversify the energy mix and not solely rely\u200c on wind \u2064and solar energy. While these sources have their limitations, they can still \u2062play a significant role in \u2064reducing carbon emissions and transitioning away from fossil fuels. Nuclear energy, for example, is a clean\u2064 and\u200b reliable source of \u200celectricity with\u2064 a high\u2064 capacity factor. By incorporating a combination of \u2063renewable energy, \u200bnuclear power, and\u200d innovative technologies, \u200bwe can achieve a more balanced and \u2063sustainable \u200benergy portfolio.<\/p>\n<p>Germany&#8217;s\u200b experience\u200c serves as a valuable\u2062 lesson in the challenges\u200b and complexities of \u2062an energy transition. It is important to \u2062learn from \u200btheir successes and \u2063failures to avoid repeating the \u200csame\u200b mistakes. By\u2063 carefully planning\u200b and\u2063 implementing policies that prioritize stability\u2064 and \u200breliability, \u200dwe can ensure a smooth and successful\u2063 transition to renewable energy.<\/p>\n<p>In conclusion, \u200cthe generous \u200cpledge\u200b from billionaire philanthropist Michael Bloomberg is a significant step towards\u200d accelerating the transition to renewable energy in the United\u2063 States. While there are \u200bconcerns and risks associated with this transition,\u200b it \u200dis \u2063crucial that we approach it in\u200b a responsible and\u200c strategic manner. By diversifying\u2064 our energy mix, investing in infrastructure and technologies, and learning from\u2063 the experiences of other\u200d countries, we can achieve \u200ba cleaner and more\u200c sustainable future for generations to come.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>path towards a greener future by accelerating the transition to renewable energy sources and phasing out fossil fuel-based power generation. The combined efforts of Bloomberg and the Biden administration&#8217;s substantial investments are seen as crucial steps in combating climate change and reducing greenhouse gas emissions.<\/p>\n","protected":false},"author":887,"featured_media":2090889,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2090888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2090888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/887"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2090888"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2090888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2090889"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2090888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2090888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2090888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}