Better prospects above us than under our feet

Published January 5, 2015

Editorial by Fayetteville Observer, January 5, 2015.

Debates over allowing and regulating the hydraulic fracturing process to search for natural gas in North Carolina drew a furor last year. Some folks saw dollar signs. Others worried about irreparable damage to natural resources.

As 2015 dawns, the state's prospects for new energy generation are looking good. But fracking? Not so much.

Lawmakers who had hoped for a fracking boom in Lee and Chatham counties to spew enough cash to boost the economy and enrich state tax coffers should have studied the geology and economics more carefully.

North Carolina was getting into the fracking game long after other states. Amid a glut of oil and an abundance of natural gas, prices for those commodities have fallen. That's good news for consumers and businesses that depend on these fuels. But it's bad news for those who hoped to strike it rich off untapped fossil fuels. Hydraulic fracturing represents a costly and risky investment that only adds up to profits with strong energy prices.

Geology makes the landscape even less favorable for natural gas exploration in central North Carolina. Our potential fracking zones are narrow bands. Scientists have said natural gas production there would be marginal. Regardless of prices, this wouldn't be the smartest region for a fracking investment.

But even if the expected fracking boom appears destined to be a bust, we have good news in recent weeks about expanding solar and wind power production.

Vast solar farms that convert the sun's rays directly into electrical power using rows of light-sensitive panels - called photovoltaic arrays - have already become a common sight in many areas of the state. Cumberland County's first, the Ecoplexus project on John B. Carter Road near Vander, went online last week.

It's one of about 10 in planning for Cumberland. Some 24 solar farms already operate across the Cape Fear region.

The story on solar has been that state incentives force energy companies to derive a certain percentage of their power from non-fossil-fuel sources. That's what made the plants worth building. But the margins have been improving with gains in technology.

The next big thing for the region could be wind power, which also has seen advances in efficiency. An area near where Hoke, Robeson and Cumberland counties come together is being studied for its wind-power-producing potential.

January 5, 2015 at 2:59 pm
Richard Bunce says:

The free market should decide... not government bureaucrats.

January 7, 2015 at 12:30 pm
Rip Arrowood says:

Why would you want to let a free market decide something as important as the future of our energy resources? The Free Market is nothing more than a pie-in-the-sky, utopian dream that has never been proven to work, won't work and can't be made to work in today's economy.

January 8, 2015 at 3:29 pm
Richard Bunce says:

What? The free exchange of goods and services for payment works billions of times around the world every day. What can screw it up is government regulation.

January 5, 2015 at 7:26 pm
Norm Kelly says:

It's POSSIBLE that wind & solar may be a thriving business in the future. Technology will improve, if it has to. But these businesses need to stand on their own. I already pay for electric power to be generated & delivered to my house. I already pay for natural gas to be gotten & delivered to my house. I already pay for gasoline to be gotten & delivered to the station so I can fill my vehicles (and lawnmower, unfortunately!). Why should I also be paying for the incentives that pols put in place to encourage businesses that otherwise would not waste their money on wind/solar to do so even though it's a losing business. Would K's relatives (husband/son?) have put solar panels on their building(s) if the government hadn't paid them to do so? Would WRAL have built a massive solar 'plant' if the government hadn't paid them to do so? If the business is viable, it will survive on it's own. If it's not viable yet, then someone, somewhere is working on a way to improve the technology so that it becomes a viable business. Why would someone be spending their time & effort to improve the technology? Even without government subsidies? Simple. But because it involves PROFIT, it escapes libs/socialists/editorial writers and way too many pols! The reason ANYONE spends their time, effort, and probably money to develop a viable technology that they can SELL to someone else is because there's money to be made when the technology is viable. Profit is a bad word these days, something else that libs have defined as non-PC. But thinking people know that profit is a good thing. Take profit out of the picture by letting some government agency get involved, and innovation goes away. It's natural. It happens by default. Doubt me? Then take your lib head out of the sand and look around the world. Where has freedom thrived the most? The US. Where has innovation happened the most? The US. Libs hate the US because of this, but too bad. It's true, regardless of how it makes them 'feel'. And it's good for all of us. Without successful business in the US, allowing innovation, and profit, those same libs would not have the ability to protest as much as they do. And without profit, and innovative individuals, libs would have no place to force their PC speech on the rest of us. Think about all the freedoms that you have because someone was selfish enough to want to make a profit, and they innovated. They make money by selling their 'product'; you profit by having something useful in your life to make your life easier. Giving you the time to try to destroy innovation for the next generation. And bugging thinking people about how un-PC we are.

It might be nice to have electricity in my house someday that doesn't cause coal ash ponds to be created. It might be nice some day to have electricity in my house without having to send ANY of our money to nations that absolutely hate our guts! But that day has not yet arrived. Even with government 'incentives' (stealing money from one group to give to another group) if the business isn't viable, it isn't viable. Witness Tesla motors. Witness Solyndra. Both wasted an awful lot of taxpayer money, both rewarded donors to the occupiers campaigns, but neither was viable to start with. Without government interference in the market, it wouldn't exist. Cuz it's NOT READY for primetime. And don't forget when the government subsidized solar panel production. The production that was occurring in CHINA! Why was this paid for by US taxpayer dollars? What a monumental waste of money. Let government do the few, limited things government should be doing. And let investors do what investors do best, which is find businesses/individuals that are innovating, and sponsor them. Give them cash to allow their innovation to come to market. When Mitt invested his company's money, it cost me NOTHING. When Mitt lost money, it cost me NOTHING. When the occupier pays off his donors with huge money piles, it's not investing, its pis_ing away someone elses money. And chances are that someone didn't want to be an investor in that business but was forced into it. Mitt did it voluntarily. The occupier forces us to do it involuntarily. And it only mucks up the market. Stop spending taxpayer dollars on stupid sh!t where you don't belong!

And the other thing about profit is those who are not in the business but are financially rewarded because of that business. Take Alsharpton for instance. He's just one who makes money by fleecing companies. Without profit, people like Alsharpton would actually have to work for a living. There's hundreds of people like Al who make money through intimidation. Without some attempting to make a profit, all the shysters would have to work. Which would only be bad for the unemployment numbers crafted by the occupier. Just think, without fleecing, people like Al are only qualified to receive welfare! Game the profit business or game the government give-away schemes. Either way, we all pay for people like Al!