Posted by: Grant | October 11, 2011

Lessons From Lemmings

Lessons From Lemmings: The EU’s Green Power Folly
Larry Bell, Contributor

” …But it didn’t work out very well either for business, or for private households, raising energy rates 7.5% in 2008. Nor has it been any bargain in converting tax investments into new jobs, with average annual subsidized per-worker wages in photovoltaics reaching $240,000.
As for clean energy carbon abatement benefit credits on the European Trading System, the math didn’t add up very favorably either. Abatement costs for carbon from wind generation were $80 per ton, whereas carbon traded at only $19 per ton.
Worse, the wind produced only about one-fifth of its installed capacity. Ironically, since Germany has shut down some of its older nuclear plants in response to the nuclear accident in Japan, they now have to import nuclear power from France and the Czech Republic…. “


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