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Now new baseload is coming online, in the form of wind and solar, and this is in some measure making up for the underprovision of baseload. This, of course, displaces gas, because gas is a generating mode that has no business being run as baseload in the first place. That this leaves in place those legacy modes that are optimized for baseload production, such as lignite, is not a bug. It's a feature.
If you don't like that feature, make a political decision to close the lignite-burners - they will be easily replaced with gas in the short term and renewables as they come online.
- Jake Friends come and go. Enemies accumulate.
There is no causal model, because economists don't do causal models. There is no robustness check against alternative scenarios, because economists don't do causal models and you need a causal model to construct credible alternative scenarios. There is no internal consistency check on the story, because the Economist does not do due diligence when a naive reading supports the conclusion it wants.
The overwhelming majority of your average issue of The Economist is written by highly educated incompetents for highly educated incompetents.
Now that wasn't even worthy of a commentary. It's down there with 'global warming stopped last Friday'.
Where's the world coming to when not even economists grasp a concept like 'the longer term'?
The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again. -- John Maynard Keynes -- A Tract on Monetary Reform (1923) Ch. 3
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