agreed. And my point was that the economics in the long run work out compared to the initial technical complexity and capital intensive work.
Take a look at Renewables. It fails every metric in terms of efficiency and TCO, still people do it. Solar’s best efficency is 21% ± 4% under lab conditions, real field level is at 11-13%. Ditto ethanol blending. you dont have to know chemistry to know how badly inefficient is ethanol blending but still ESG stuff because it’s not oil/gas. Lets just handwave that the fertilizer and pesticide are not from oil and it’s not a good convertor of it to sugar and alcohol. Charlie Munger gave a good talk on this in 2010 I think.
So, you’re right on these things being complicated but some are worth doing in some cases.
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