As the great Margaret Thatcher once said:
“The problem with socialism is that you eventually run out of other people's money.”
Case in point - EU Government subsidies for 'Clean Energy' - from JoNova:
Renewables industry collapsing in Europe — still a $329 billion subsidised global cash cow
The EU has led the way to convert to “clean energy”. But the subsidies ran out. Investment in Europe in renewables is plummeting
Europe’s once world-beating clean technology industry has fallen into a rapid decline, with investment in low-carbon energy last year plummeting to its lowest level in a decade.
Michael Liebreich, chairman of the BNEF board, said the global financial crisis and its aftermath were to blame only in part. “Europe’s failure to respond [to the crisis was a factor and] global investors, scared about the survival of the euro, had plenty of reason to hesitate about putting money into euro-dominated clean energy projects,” he said.
What bad luck – it’s nearly, almost, really competitive. Any day now:
Liebreich … “The tragedy is that Europe lost its renewable energy mojo just as costs were plummeting to the point where green power is fully competitive without subsidies in more and more parts of the world.”
Shame investors are too stupid to see how renewables are going to make lots of money. Only governments have that kind of vision, right?
And of course, absolutely zero mention of the new crop of reactors. The reactors that blew up - Three Mile Island, Chernobyl and Fukushima had their initial designs sketched out on cocktail napkins over 60 years ago. There are a lot of newer designs that are intrinsically safe (they can not melt down), are more efficient, can burn the waste from 'conventional' reactors and the waste from these new reactors only needs to be sequestered for a few hundred years - not the 3,000 to 12,000 years for conventional cores.
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