Thursday, March 15, 2012

Margaret Wente Speaks Truth to (Green) Power

The Globe and Mail's token non-loon writes re Premier Dalton McSpendy's green catastrophe:
The green energy bubble is bursting everywhere. As governments confront the worst economic conditions in decades, citizens are revolting against energy costs that have been artificially inflated by green schemes. Nor are Canadians the only people who object to the despoliation of the countryside. In Britain, where the rural landscape is considered semi-sacred, Prince Philip has reportedly denounced the wind industry as “an absolute disgrace.” More than 100 MPs have written to the government demanding cuts to wind subsidies, which now amount to £400-million a year.

Mr. McGuinty insists that his green energy investments will launch a vast new industry in Ontario, whose products and expertise can then be exported to the world. But the world is losing interest. Besides, green subsidies don’t create jobs – they kill them. In Germany, where the government has invested heavily in renewables, high energy prices are forcing companies to close factories or move abroad. Germany has pumped more than €100-billion into solar subsidies, with disappointing results. Now it has announced that it will phase out support to the industry by 2017 – news that caused solar stocks to plunge around the world. Spain, which is in serious economic trouble, has also decided to stop subsidizing new alternative energy projects.

Everything Mr. McGuinty believed about alternative energy turned out to be spectacularly wrong...
Should've listened to Klavan:

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