Donald Trump’s “drill, baby, drill” mantra portrays fossil fuels as the magic road to lower energy prices. He's exactly wrong. Solar, wind and other renewable sources are.
Renewables already provide electricity to consumers in Europe that’s so cheap, it’s at times free – this according to The Wall Street Journal, a decidedly non-socialist news source. Such are the rewards of Europe’s green energy revolution, supercharged after Russia’s invasion of Ukraine caused a spike in oil prices.
Example from the Netherlands: Jeroen van Diesen can get free energy based on whether the sun is shining or the wind is blowing, especially when demand for power is low. Sometimes the price actually dips below zero. Van Diesen says he made about $34 over the past five months charging his car when the price turned negative.
“Wholesale prices swing wildly each hour of the day,” The Journal notes. And as more electricity flows from wind and solar installations, the price can go into negative territory. In other words, the prices can swing wildly downward.
