Renewable energy: Australian taxpayers are being scammed, by Judith Sloan.
Without a doubt, the biggest scam perpetrated against taxpayers and consumers is renewable energy.
And if you think this scam is just an Australian phenomenon, think again. With very few exceptions, governments all over the world have fallen into the trap of paying renewable energy scammers on the basis that it is necessary, at least politically, to be seen to be doing something about climate change.
That will change soon. We’ve found the fault in all the climate models, and are writing it up into a book. Carbon dioxide is only about a fifth to a tenth as powerful as the IPCC says it is — there will be no Armageddon, even if we only burn coal for electricity.
But let’s take the Australian figures as an example of the vast sums of moneys being redistributed from ordinary consumers and taxpayers to the renewable energy rent-seekers. It is estimated that more than $2 billion a year is handed over to renewable energy operators by virtue of the operation of the renewable energy target and the associated renewable energy certificates.
But this is just the start. The Australian Renewable Energy Agency shovels out hundreds of millions of dollars annually to subsidise renewable energy companies, many of which are overseas-owned. Then there is the Clean Energy Finance Corporation, which was given $10bn in equity by the Gillard Labor government to lend or grant money to renewable energy companies. Evidently the long-suffering taxpayer might receive a return on this “investment”, but I wouldn’t suggest you hold your breath. …
Then there is the issue of intermittency that plagues renewable energy around the world, including in Germany. Late last year, the wind simply didn’t blow for several days and a thick fog surrounded many parts of the country. The output from renewables fell to just 4 per cent of total demand. Battery back-up is of little use in this scenario. …
Britain continues to burn woodchips imported from the US to produce electricity because of the supposed environmental benefits. You know it makes sense.
hat-tip Stephen Neil