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> ow the GOP imagines we’ll be competitive when the rest of the world can produce electricity 10x cheaper

By forcing oil prices to get 10x cheaper, at the barrel of a gun. See: Venezuela and Iran. Will it work? I would not bet on it.

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Seems unlikely that we'll be selling oil for $5, unless fossil fuels are completely replaced and it becomes a side-of-the-road novelty.

Then it loses economies of scale and capital wasted so price won’t go down

At that point, who really cares? As scale goes down and economies of scale go away, it just becomes an irrelevant novelty. But the actual question is: how much will industrial applications matter.

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