cheap power could matter more than clean power in the push for net zero, because in a world where everything costs money, and where technology is constantly cheapening costs, the lower the costs of power, the cheaper can be the cost of production, and the cheaper can be the price of the product. cheap power can enable producers to compete in markets hitherto closed to them, and so extend the area of employment; it can enable them to produce more cheaply, and so increase the volume of trade, which in turn can afford to pay higher wages; and it can enable consumers to purchase at a lower rate, and so live more cheaply and comfortably. Cheap power means cheaper living for the poor, and cheaper production for the rich. Cheap power means cheaper transport, cheaper travelling, cheaper transmission of news, cheaper living in towns, and cheaper production of all things in general.
Original dispatch: Why cheap power could matter more than clean power in the push for net zero