It’s a downward spiral that sucks up all the investment in the room because it has been profitable in the past, so people assume it will continue to be profitable, and because the dynamics of the supply chain allow for maximum rent seeking in a way that alternatives do not.

PV is just cheaper at this point, but, a steady state low cost power supply is much less profitable than a gas power plant that can be turned on and off to ensure that the price is always kept as high as possible.

Investment decisions in our economy are not made to maximize efficiency or output, but to maximize rent seeking and margins.