2/22/2022- 6:46 p.m.
Bureaucracy & Renewables: Pushing Energy Industry to Brink of Ruin?
A tech billionaire has warned much of the world’s power-generation sector is facing disruption due to a number of progressive political policies.
Mike Cannon-Brookes, who’s the founder of software company Atlassian Corp, said renewables like solar cut into fossil fuel provider’s margins forcing them to expend more energy to keep plants open than they can afford.
Brookes – who was part of a takeover to shutdown plants earlier – claimed govt caps on prices are not feasible during times where wholesale prices are blowing through the roof.
