Worse Than Worthless: Intermittent Wind & Solar Cost A Fortune, But Have No True Value

About 10 years ago Gazprom had decided to shelve one of its biggest and most high profile projects. Shtokman is one of the biggest known gas fields and it’s smack in the middle of the Barents Sea. Its far from the shore and conditions there are so appalling that development is on the very expensive side. After years and with some egg on the face, Gazprom must have determined that developing Shtokman costs more money than the gas is worth. This makes it stranded gas as the gas is not worth it. Its worthless gas. The same goes for renewable electricity that cannot be produced when it’s needed. Or no, it’s worse. Because Gazprom pulled the plug for Shtokman and there is no further loss. But those windmills and solar arrays get built and cost money while producing worthless (but not costless) energy.

Linkedin Thread