Roughly 3.3 billion people—about 45 percent of all the people on the planet—live in places where per-capita electricity consumption is less than 1,000 kilowatt-hours per year, or less than the amount used by my refrigerator.
By 2017, more than 6,600 coal-fired power plants, with a combined capacity of about 2,000 gigawatts, were operating around the globe…. Not only that, coal’s share of global electricity production has remained nearly constant, at about 40 percent, since the mid-1980s. Why is this? For the simple reason that coal is cheap and widely available.
Americans are currently facing significant uncertainty over how the drop in oil prices, the COVID-19 virus, and governments’ response to both will harm the economy and their long-term prosperity.
However, the harm caused by governments that limit access to affordable and reliable electricity is well understood.…