The Australian public was duped when told that our renewables scheme would provide cheap power. By Robert Gottliebsen in The Australian.
Back in 2020, the AEMO [Australian Energy Market Operator] cost estimate for most of the transmission line projects was just $8.5bn. Renewables looked to be low-cost and very profitable. Now the transmission lines will cost at least $120bn but, as explained below, are more likely to explode beyond $200bn.
Add another $160bn for the wind and solar generators and we have a $350bn-plus project that is being financed with high-cost loans, which could boost the total 35-year outlay above $1 trillion. Australia’s current debt is around $940bn. …
Snowy 2.0 is coming in at 20 times the original cost estimate and the wider project is similar….
Disaster:
The government could argue that the funding for renewables is not really borrowings because it will be met by the consumers of power over 35 years.
But that would send power costs through the roof and make Australia an uneconomic destination for most activities.
Those currently bemoaning the cost of living are now set for a continuation of the disaster for at least three decades.
The designers of the chaos appear to delight in running their thousands of kilometres of cables and thousands of towers — that are about the height of Sydney Harbour Bridge pylons — through our best agricultural land. …
Political parties changing positions:
Earlier this week the ALP moved to remove its emissions target from its national policy — the first sign that some in the ALP have woken up to the fact that Energy Minister Chris Bowen has created a financial nightmare.
To their great credit, the Liberals, Nationals and One Nation are all now opposed to putting towers on agricultural land.
One Nation goes one step further and states that where towers are being put on agricultural land, developers must put the required money aside to pull the towers down.
All that because our ruling class refuses to do any due diligence on the climate models, and only hires scientists who agree with the carbon dioxide theory. Well yes, but look how money some people made in the renewables rollout! And how it enhanced the political power of the globalists! Too bad about the trash littering the Australian landscape and the high energy prices — a small price to pay for what is really important.