[…] Since 1973, U.S. government agencies have spent $154.7 billion on “renewable energy” with very little to show for it. Proponents of solar technology claim that their favored technology is on the verge of being competitive with traditional forms of energy, but they have made the same claim since at least the mid-1990s. Billions of dollars in subsidies later, solar still only comprises at most 0.2 percent of U.S. electricity production according to the Energy Information Administration.
“Green” energy subsidies benefit the politically connected while harming future generations as hundreds of millions of dollars are added to the country’s debt burden with each green failure. It’s time to end all subsidies—for all energy companies, not just green ones—and let the best technologies win.
It’s not just restricted to the US, here’s Europe: Britain’s £85 billion bill for climate policies
A new study claims Britain’s climate change initiatives are both ‘staggeringly costly and excessive’
Climate-change policies are expected to cost Britain more than £80 billion by the end of the decade, as critics warn that the global-warming industry is spiralling out of control. […]
Last month, the EU’s commissioner for climate action said that a fifth of the EU’s £805?billion budget from 2014 to 2020 would go on “climate-related spending”[…]
[…]France’s spending totals £275 million.
The scam is worldwide, the carbon credit scam cost this much: UN $315 billion CDM carbon market comatose after Warsaw. It may last years
More good news.
The CDM is one of the only truly global carbon markets. It’s been the main mechanism for “mitigation” in developing countries, (China says “thank you”). Born with the Kyoto agreement, it was in a sick state last year and was even said to have collapsed. Now however it’s reached a state of “coma”.
Each CDM was worth 20 euros in 2008. Now they are selling for 50c.
All that money could have gone to a good cause too, like helping Africa out of poverty with cheap coal power. In Australia, the Labor Party still wants a carbon tax impost on everything, failing to pass the ‘people’s choice’ by repealing their tax in the Senate.
Money down the plug hole drain
UPDATE, Bishop Hill has good news /sarc Green jobs: £1 million each
Stephen Lovegrove is the permanent secretary at the Department of Energy and Climate Change, although when hearing him speak about his work one could sometimes be forgiven for mistaking him for, say, someone from Greenpeace. Take his speech to the Concito conference in Denmark a few weeks ago for example. […]