tankies:

Another reminder during the new climate change reports: Capitalism as a system clings to fossil fuels. Not just because of companies’ choices, but because of the working of the system itself.

“The problem, in other words, is that the rise of renewables is making it more difficult for big energy companies to make the kind of profits they’re accustomed to. The Economist argues that this will create a drag on investment and make the transition to a sustainable energy system impossible without direct government intervention: “Theoretically, if renewables were to make up 100 percent of the market, the wholesale price of electricity would fall to zero, deterring all new investment that was not completely subsidized.”