Summary of The False Promise of Green Energy (Prof. Andrew Morriss - Acton Institute)

00:00:00 - 00:40:00

The false promise of green energy is that it will be cheaper and more efficient than traditional energy sources. In reality, renewable energy sources are more expensive and more inefficient than traditional energy sources. This video discusses the history of gasoline, starting with the early days when it was a waste product generated from oil refineries. It argues that the false promise of green energy has led to wasteful spending, high debt, and economic stagnation.

• 00:00:00 The author discusses some of the facts about energy, discussing that all forms of energy have trade-offs. They go on to discuss how protests against renewable energy often take a one-sided, narrow view of the issues. He argues that context is important when discussing energy issues, and that it is important to look at all the facts before making decisions.
• 00:05:00 The False Promise of Green Energy is a video by economist Andrew Morriss that discusses the trade-offs between environmental cleanup and economic growth. Morriss argues that we have already made significant improvements to air quality and that, while we can make even smaller improvements, the best way to clean up the air is to invest in green energy initiatives like subsidizing the purchase of new cars in Mexico and using private property rights to increase efficiency.
• 00:10:00 The prof discusses the correlation between human development and energy use, emphasizing the importance of renewable energy sources. He shows that transportation has greatly improved thanks to advances in energy. He then moves on to discuss different uses for energy, including industrial, residential, commercial, and electric power. The speaker makes the case for using energy wisely, stressing the importance of renewable sources of energy.
• 00:15:00 The author discusses the history of energy consumption, and how fossil fuels have dominated the market for the past few centuries. He also discusses the growth of renewable energy sources, and how they will only make a small contribution to future energy needs. He predicts that new technology will eventually allow for a much larger role for renewables in the global energy supply.
• 00:20:00 The video discusses the false promise of green energy, noting that China is now about where the United States was in 1915, and that China's growing fast. It argues that, even if all Chinese citizens bought hybrids, the number of cars in China would still increase by a factor of 500. It goes on to discuss the cost of various energy sources, concluding that, while coal and natural gas are cheaper than solar and wind, they are still more expensive than nuclear.
• 00:25:00 The professor discusses the high cost of solar thermal and solar photovoltaic technology and how it is taking money from unborn grandchildren to pay for it. He also discusses the negative environmental effects of these technologies and how they are not being good stewards of the earth's resources.
• 00:30:00 The false promise of green energy is that renewable energy sources will be cheaper and more efficient than traditional energy sources. In reality, renewable energy sources are more expensive and more inefficient than traditional energy sources.
• 00:35:00 This video discusses the history of gasoline, starting with the early days when it was a waste product generated from oil refineries. John D. Rockefeller monopolized the oil refineries to make kerosene, which was the number one product being made. Meanwhile, Henry Ford developed the automobile and created a market for gasoline. In the 1930s, as the United States prepared for World War II, the oil companies began competing to create higher quality gasoline. One technology, catalytic cracking, made more of a nice light fraction gasoline from a barrel of oil. By 1944, Gulf Shell and Standard Oil of New Jersey were producing a million barrels of 100 octane fuel each day.
• 00:40:00 The video discusses how the false promise of green energy has led to wasteful spending, high debt, and economic stagnation. The author recommends a policy focus on real goals, improving life for all, and without burdening children.