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Sometimes we create our own problems.
(lemmy.world)
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this post was submitted on 28 Apr 2025
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Microblog Memes
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I don't like using the term capitalism because it is too vague. Political corruption protecting oligarchy/big corporations is the problem.
Inflation resulting from start of full war on Russia and resulting oil/diesel price spike forced the wrong policy of higher interest rates. The theory in the past is that increasing austerity on consumers reduce their driving, and preventing business investment also reduces expanded demand for scarce FFs.
In the dynamics of energy disruption, high interest rates are the biggest cost obstacle for renewables and less new renewables is more oil/FF extortion power. At 2000 sun hours/year, $1/watt solar installation, could get a 16 year payback = 100% overall profit at 3c/kwh price. 2c/kwh at 3000 sun hours/year. Every 2% in interest costs, increases required price by 1c/kwh.
Protection of existing assets/supply scarcity is not affected by higher interest rates. New oil wells do have a big upfront cost, but they also have a huge power and maintenance requirement that is paid for with the product taken out of the ground, with ROI protections if renewables can be suppressed, including with high interest rates.
Political corruption favouring scarcity over abundance is the problem. Cheap energy or steel is a huge competitive and life quality advantage. Use cheap inputs for more productivity and happier life with cheaper cost.