Green dreams are giving way to hard economic realities

Turns out we can’t afford a Green future, and the world is waking up to the fact that Green politics are simply not … sustainable.  And more amazingly still, more and more of the MSM are getting off the Global Warming and Green merry-go-round.

As country after country abandons, curtails or reneges on once-generous support for renewable energy, Europe is beginning to realise that its green energy strategy is dying on the vine. Green dreams are giving way to hard economic realities.

Slowly but gradually, Europe is awakening to a green energy crisis, an economic and political debacle that is entirely self-inflicted.

The mainstream media, which used to encourage the renewables push enthusiastically, is beginning to sober up too. With more and more cracks beginning to appear, many newspapers are returning to their proper role as the fourth estate, exposing the pitfalls of Europe’s green-energy gamble and opening their pages for thorough analysis and debate. Today, European media is full of news and commentary about the problems of an ill-conceived strategy that is becoming increasingly shaky and divisive.

A study by British public relations consultancy CCGroup analysed 138 articles about renewables published during July last year in the five most widely circulated British national newspapers: The Sun, The Times, The Daily Telegraph, Daily Mail and Daily Mirror, which enjoy a combined daily circulation of about 6.5 million.

“The analysis revealed a number of trends in the reporting of renewable energy news,” the study found. “First and foremost, the temperature of the media’s sentiment toward the renewables industry is cold. More than 51 per cent of the 138 articles analysed were either negative or very negative toward the industry.”

More than 80 per cent of the articles appeared in broadsheet titles The Times, The Daily Telegraph and the Daily Mail, the report says, “but 55 per cent of these articles were either negative or very negative about the industry”.

I suspect our MSM will take some time to follow the trend, as they are so heavily invested in anything that can take Teflon John down a few pegs.  And they wouldn’t altogether be unhappy to be reporting on a Green-led coalition government either.

It’s like waking up the morning after a great party, and it’s time to clean up and go to work.  Reality has come knocking on the door of Green pipe dreams.

EU members states have spent about €600 billion ($882bn) on renewable energy projects since 2005, according to Bloomberg New Energy Finance. Germany’s green energy transition alone may cost consumers up to €1 trillion by 2030, the German government recently warned.

These hundreds of billions are being paid by ordinary families and small and medium-sized businesses in what is undoubtedly one of the biggest wealth transfers from poor to rich in modern European history. Rising energy bills are dampening consumers’ spending, a poisonous development for a Continent struggling with a severe economic and financial crisis.

The German Association of Energy Consumers estimates that up to 800,000 Germans have had their power cut off because they couldn’t pay the country’s rising electricity bills; among them, German newspaper Der Spiegel reported last October, are 200,000 long-term unemployed.

Don’t you just love it?  The greener the energy gets, the less affordable it becomes.  In terms of generation, in terms of subsidies and in terms of consumer pricing.

I don’t even have to spin this.  The cold hard realities of Green energy are setting in all over the world.

Two weeks ago, the Czech government decided to end all subsidies for new renewable energy projects at the end of this year. “The reason for this law amendment is the rising financial burden for electricity consumers,” Prime Minister Jiri Rusnok said. “It threatens the competitiveness of our industry and raises consumers’ uncertainty about power prices.” In recent years, almost all EU member states also have begun the process of rolling back and cutting green subsidies.

Spain is a particularly cautionary tale. By failing to control the cost of guaranteed subsidies, the country has been saddled with €126bn of obligations to renewable-energy investors.

There are about 10-15% of the population that are just complete dreamers.  They want “Green”.  They want “sustainable”.  They want “renewable”.  But all of that only worked by forcing others, the ones with the money, to pay for it.

Sure, it sounded like a great idea.  Only ogres like me have had to courage to swim upstream for all these years telling people it was insane and would come to tears.

Welcome to the morning after.  Smell the coffee, and start cleaning up the mess that Green meddling has left.

Europe’s strategy was founded on two fears: first, that global warming was an urgent threat that needed to be prevented imminently and at all costs; and second, that the world was running out of fossil fuels, which meant oil and gas would become ever more expensive. Both conjectures, however, turned out to be wrong.

The result of a fear-driven gamble with the Continent’s industrial future is a costly shambles that threatens to undercut Europe’s economic and political position in a world that is sensibly refusing to follow its lead.

Germany’s green energy strategy is likely to change significantly after federal elections on September 22; Merkel has promised voters to drastically curtail the €20bn burden they have to pay renewable energy investors every year should she win.

Australians would be well advised to watch this green train wreck very closely if they wish to avoid a repeat of the fiasco that is unfolding in Europe.

And Kiwis too.

 


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

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