Tag: peter thiel
Real Men Burn Stuff! Trump's Stupid War On Renewable Energy

Real Men Burn Stuff! Trump's Stupid War On Renewable Energy

“We wanted flying cars, instead we got 140 characters.” That famous 2011 quip from the venture capitalist Peter Thiel still resonates, even though Thiel himself has become a deeply malignant force in American politics. I’ll write soon about the madness of the Trumpist tech bros, but for today let me focus on Thiel’s original insight — that everyone, venture capitalists included, had come to focus far too much on digital technology, neglecting the possibilities of breakthroughs in technologies that deal with the physical world.

Yet here’s the irony: In the years since Thiel’s lament we have, in fact, seen revolutionary progress in one fundamental physical-world technology, energy production. Yet the people Thiel and his buddies helped put in power are doing all they can to reverse that progress and send America back into the energy Dark Ages.

Most critiques of the One Big Beautiful Bill have focused on the way it explodes the budget deficit while imposing immense hardship on lower-income Americans. Yet energy policy is also an important component of the OBBB, which basically tries to roll back the rise of solar and wind power — sources that have accounted for more than half the worldwide increase in electricity generation since 2015.

To understand how self-destructive that effort is, you need to know three things about the economics of renewable energy.

First, there are powerful environmental reasons to favor renewables over fossil fuels where possible. Reducing greenhouse gas emissions is the most important, because climate change is an existential threat. But even aside from climate concerns, the air pollution created by burning fossil fuels takes a major toll on health and productivity, which solar and wind don’t.

Second, a transition to renewables, which might have seemed like pie-in-the-sky, hippy-dippy stuff a generation ago, is now not just feasible but the only sensible energy strategy. Here’s a chart showing estimates of the levelized cost of electricity generation (LCOE), adjusted for inflation, for a variety of renewable energy technologies, compared with the costs of power from fossil fuels. I’m aware that LCOE is an imperfect measure, but the results are still astonishing:

We’re talking in particular about a 90 percent decline in the real cost of power from solar panels and a 70 percent decline in the cost of wind power. This isn’t just progress, it’s a revolution.

And — my third point — the revolution isn’t over. Some technological leaps involve one big idea, which takes time to implement but is basically a once-and-done deal — which seems to be the case, to take an example I’ve studied, for freight containerization. Progress in renewable energy, however, has involved a continual process of “learning by doing,” in which efficiency keeps rising and costs falling as the industry expands. This is exactly the kind of situation in which government subsidies — like the clean-energy tax credits instituted by the Biden administration — can accelerate progress and boost overall economic growth.

But the OBBB killed those tax credits. And the Trump administration has been taking executive action to stall renewable development, for example, by halting federal approvals for wind farms. In general, MAGA clearly wants to move us back to burning gas, oil and above all coal. Why?

Campaign contributions no doubt play a role. Fossil fuel industries donate almost exclusively to Republicans. But renewables are also big business these days, and especially in red states. Texas, in particular, is by far the nation’s largest producer of wind power and gets a larger share of its electricity from renewables than any other state. Why would the G.O.P. want to demolish a key pillar of economic success in its biggest source of electoral votes?

Honestly, I think this is a case where the usual logic of money-driven policy is trumped (Trumped?) by irrational, psychological — you might even say psychosexual — issues.

We know that Trump himself has a weird thing against wind power, insisting that wind turbines massacre birds and kill whales. This appears to stem from the refusal of the Scottish government to cancel an offshore wind farm he thought ruined the view from one of his golf courses.

But it’s not just Trump. There is, it turns out, a strong link between the manosphere — the online movement promoting “masculinity,” misogyny and opposition to feminism — and anti-environmentalism. For example, in 2023 Jordan Peterson convened a high-profile conference to declare that concerns about climate change are a “conspiracy run by narcissistic poseurs.”

If you think about it, this makes sense — not intellectually but emotionally. Don’t concern about the environment and advocacy of “clean energy” sound kind of, well, feminine? Real men burn stuff and don’t worry if the process is dirty.

And manosphere-type attitudes are clearly widespread in MAGA. One of the main arguments Trump officials and supporters have made for tariffs is that they will bring back “manly” jobs in manufacturing. (They won’t, but that’s another story.) The same notion underlies the doomed attempt to revive the coal industry.

But here’s the thing: MAGA and the manosphere may hate clean energy, but they won’t be able to stop the rise of renewables. All they can do, possibly, is stop the rise of renewables in the United States. Other nations, China in particular, are making huge investments in wind and solar power, because they understand what Trump and his allies refuse to acknowledge — that this is the only way forward.

So while MAGA’s attempt to strangle clean energy will increase the risks of global climate catastrophe, it will also increase the risks of U.S. economic stagnation, forcing our nation to remain wedded to obsolete energy technologies while other countries march into the future.

Paul Krugman is a Nobel Prize-winning economist and former professor at MIT and Princeton who now teaches at the City University of New York's Graduate Center. From 2000 to 2024, he wrote a column for The New York Times.

Reprinted with permission from Substack.

Elon Musk

When Republicans Warn Us About Their Ruinous Agenda, Better Believe Them

It’s a lesson that we all should have learned many years ago: When Republicans tell you what they mean to inflict on you and your family, better believe them.

The most painful example in recent years of the public’s failure to comprehend what was coming -- despite dozens of announcements -- is the Republican right's successful assault on reproductive freedom. Donald Trump loudly and repeatedly promised a majority of Supreme Court justices who would overturn Roe v. Wade, as did the Republican senators who confirmed them. And still many Americans seemed to be surprised when the high court ripped down principle and precedent to undo that fundamental right.

Now, in the final days of this election campaign, we are hearing from Republicans (and their billionaire masters) what they plan to do if Trump returns to the White House. They have a sweeping agenda to impoverish the middle class while pursuing power and privilege for themselves.

House Speaker Mike Johnson just issued a clear warning that they still yearn to cripple America's health care system in the name of their "free market" utopia. While he and Trump both deny that they will try again (for the 62nd time!) to repeal the Affordable Care Act, Johnson vowed that “health care is going to be a big part of the agenda” should Republicans win – and that their aim will be “massive reform” that “takes a blowtorch to the regulatory state.” This blather portends the end of the reforms that protect people with pre-existing conditions and allow the young to get coverage on their family’s insurance until age 26. Neither those nor other crucial ACA protections would survive those massive changes that neither Trump nor Johnson will specify before the election.

And that’s merely the opening gambit in the Trump Republican scheme to ruin their fellow Americans.

The far-right financiers surrounding Trump have realized that his obsession with tariffs can be repurposed to line their own pockets – so they’re suddenly eager to abandon the principles of free trade they once cherished. For billionaires like Elon Musk and Peter Thiel, the tariff scheme is attractive simply as a form of regressive taxation, siphoning hundreds of billions of dollars from ordinary consumers in the form of far higher prices. Those tariff revenues could replace the proceeds of the progressive income tax – which the rich hate to pay -- while shifting the burden onto middle-class and poor families.

But Musk has even more nasty surprises in store, as he recently suggested on his X social media platform. He has invested vast sums – upward of $75 million or more – in Trump’s campaign, for which he expects to be named reichsmarshall of "government efficiency,” with unaccountable power to slash programs and fire employees. The world’ richest man breezily advised middle-class Americans that we should expect to suffer “hardship” in the early days of a Trump presidency, owing to the enormous cuts and layoffs he will dictate. (Of course he also promises a “sustained recovery” in the wake of economic disaster, although historically that isn’t how things work out under Republican administrations. You can look it up.)

According to Musk, his objective in a Trump regime would be to cut $2 trillion from future spending – even as Trump has promises trillions more in tax cuts for the billionaires. How does that math work? It doesn’t work at all unless, as J.D. Vance recently confided to a podcast host, Musk’s “government efficiency commission” sharply reduces Social Security and Medicare payments. “I’ve spoken with Elon a little bit about [the task force],” said the Republican vice presidential nominee. “And the thing that’s complicated about this, man, is it’s going to look much different in, say, the Department of Defense versus Social Security.”

We know Trump won’t cut defense spending, which he has always sought to increase with his Space Force and other boondoggles. The only alternative will be enormous cuts in Social Security and Medicare, which account for about $2 trillion in spending annually.

Optimists may imagine that Musk, who no doubt considers himself a “stable genius,” will come up with new ways to save trillions without harming the American people or the economy. Unfortunately his record as an executive is not reassuring. Upon purchasing Twitter (later renamed “X”), he dismissed about 80 percent of the staff and turned the site into a haven for neo-Nazis and the other extremists and conspiracy theories he apparently admires. The company's market value has never recovered and his investment has roughly the same value as if he had put a blowtorch to $44 billion in cash.

The truth about Musk as a businessman is that his profits have depended heavily on government subsidies from the beginning.

But that arrangement can still prop him up, so long as he and his cronies control the government. Musk, Thiel and the rest of the MAGA billionaires will tell you they are backing Trump because they want to “kill the woke mind virus” or “protect freedom” or some such cliched piffle. In fact they are driving a campaign to further enrich and empower themselves – and the rest of us are just road kill.

What Makes J.D. Vance Something Far Worse Than Merely 'Weird'

What Makes J.D. Vance Something Far Worse Than Merely 'Weird'

When political observers describe J.D. Vance as “weird,” what they usually mean is the Republican vice-presidential nominee’s ranting about childless people, his extremism on questions like abortion and divorce, or perhaps his choice of eye makeup.

But there is a deeper level to Vance’s political weirdness that places him amid the most sinister forces in the nation today – and calls into question the supposed patriotism that motivates him and the “America First” movement he and Donald Trump now represent. To understand what Vance really stands for, and why his ideology is so distant from the Constitutional democracy he has sworn to uphold as a United States senator, it is necessary to examine the chief sponsor of his political and business career: a Silicon Valley billionaire named Peter Thiel.

Born in Germany and raised in South Africa, Thiel made his enormous fortune as a venture capitalist and executive in tech companies such as PayPal and Palantir. Attracted from an early age to far-right ideologues like the addled author Ayn Rand, the tech mogul has identified himself as a “conservative libertarian” and a critic of democratic systems. Not so long ago, he was heard to say that democracy and freedom – or at least his idea of “freedom” – are no longer compatible.

If that sounds ominous, it is a sentiment that Thiel has advanced for over a decade now – and that has long characterized a strain of anti-government extremism on the American right. It is a worldview that dates back at least three decades, when a self-proclaimed economic guru named James Dale Davidson began promoting it in his investment newsletters and video presentations.

Back then, Davidson’s seething enmity for President Bill Clinton and Hillary Clinton led him not only to make the preposterous claim that they were behind the death of their friend Vince Foster (who had tragically committed suicide), but to insist that Clinton’s policies would soon plunge the nation into a cataclysmic depression. The internet boom under Clinton, which boosted incomes and balanced the budget for the first time in decades, left Davidson looking foolish.

Undaunted by failure, he went on to write The Sovereign Individual, a 1997 tome that predicted the rise of digital currencies, along with other less prescient notions. It eventually won favorable attention from Thiel, who provided a gushing preface to a new edition in 2020, two decades after its original publication, that emphasized its influence on his own political outlook and urged it upon readers as “an opportunity not to be wasted.”

Why was Thiel drawn to Davidson’s obscure screed? Aside from its advocacy of what we might now call cryptocurrency – a dubious special interest promoted heavily by Vance ever since his elevation to the Senate – The Sovereign Individual foretold a world ruled by people like him. Governments, nation-states, and the social order would all collapse; digital currencies would replace all other forms of money, except among the poorest populations; taxation and regulation of corporations would become impossible. In its conclusion, Davidson and his co-author Lord William Rees-Mogg, a British peer, denigrated democracy as the twin of communism and welcomed the advent of a brutish and largely lawless world dominated by a tiny minority of the super-rich. (The fascinating tale of Davidson's checkered career is recounted in The Longest Con: How Grifters, Swindlers and Frauds Hijacked American Conservatism.)

It isn’t hard to imagine that Thiel, who has financed research aimed at human immortality, envisions himself as one of those godlike rulers. Does Vance agree with Thiel’s jaundiced view of democracy? Does he push crypto because digital finance will allow billionaires and their businesses to evade taxes and launder money? Does he look forward to a plutocratic dystopia replacing our republic?

No doubt the embattled Republican veep nominee would deny any such disturbing views. Yet Thiel isn’t the only ultra-reactionary influence on Vance. The Ohio senator has also endorsed Curtis Yarvin, a cranky computer programmer who says America needs “a national CEO, or what’s called a dictator,” and embraced Rod Dreher, an American writer who now serves the illiberal regime of Hungarian autocrat Viktor Orban.

All that makes Vance something far worse than merely weird.

Joe Conason is founder and editor-in-chief of The National Memo. He is also editor-at-large of Type Investigations, a nonprofit investigative reporting organization formerly known as The Investigative Fund. His new book is The Longest Con: How Grifters, Swindlers and Frauds Hijacked American Conservatism.

Jeffrey Epstein

Epstein Set Up Meetings With Thiel And Other Trump Allies Before 2016 Election

Four years have passed since wealthy financier Jeffrey Epstein, facing federal sex trafficking charges involving minors, was found dead in a Manhattan jail cell. A medical examiner ruled that Epstein had died from suicide by hanging on August 10, 2019.

Epstein, who was 66 when he died, associated with a lot of famous people. According to the Wall Street Journal, Epstein set up meetings with some of Donald Trump's supporters before the 2016 presidential election.

Those supporters included Thomas Barrack and PayPal co-founder Peter Thiel (a major donor to MAGA Republicans), WSJ journalists Khadeeja Safdar and David Benoit (not to be confused with the jazz musician) report.

Another was the late Vitaly Churkin, who was Russia's ambassador to the United Nations at the time.

Forbes reporter Sara Dorn, in a separate article on Epstein, notes that "The New York Times reported in May that e-mails from Epstein's assistant show he planned to meet with Thiel at least three times in 2014, but the paper did not confirm whether the meetings occurred and Thiel declined to comment at the time."

Reprinted with permission from Alternet.

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