Happy first week of summer, but what’s up with power shortages in places like Texas where summer happens . . . every summer? Seems like there’s some kind of problem with our energy supply these days. We keep hearing that wind and solar are not just the future, but have arrived. A look at some long term data suggest this claim is . . . overhyped?
Let’s start with some of John Kemp’s latest charts, like this one, showing that oil is still the king of energy with coal and natural gas not far behind. Where are renewables? You have to squint to find them.
Notice that U.S. energy consumption leveled off about 20 years ago, even as the economy and population have continued to grow, indicating significant improvements in energy efficiency.
But natural gas—not renewables—account for the largest growing energy source of the last decade or so, at the expense of coal:
Let’s have fun with a look at Chyna:
So why is Texas struggling with its electricity grid this week? This chart provides one big clue:
Meanwhile, everyone knows house prices are soaring, but it seems that it is not speculative flipping this time:
I’m sure this will all end well:
I’m sure this will all end well, too:
And Mark Perry strikes again:
Gen Z and Millennials—just one bear market away from bankruptcy:
No wonder Harry Truman disavowed Churchill’s “Iron Curtain” speech:
This chart comes from a lefty outfit at Berkeley, but it helps explain Census data showing that lots of northern blacks are moving back to the South, which liberals can’t explain since there are so many Confederate statues and flags there:
And it might be related to this:
And finally. . .