By Andrew Bolt ~
That is an insane cost – and even more insane when you realise it will make zero difference to the global warming it is meant to “stop”:
SUBSIDIES for renewable energy schemes such as rooftop solar panels and wind farms will cost electricity consumers up to $21.6 billion by 2020, a new analysis has found.
A submission by the Minerals Council of Australia also warns that more gas- and coal-fired power stations could be mothballed or permanently closed as the renewable energy target puts pressure on the electricity market and slashes their revenues.
If this happens, retail electricity prices “can be expected to increase”, according to an economic analysis commissioned by the council which represents mining giants including BHP Billiton, Rio Tinto and Glencore Xstrata.
The analysis also hits back at fresh claims by the clean energy sector that the RET will create up to 18,400 jobs by 2020, declaring “the most immediate effects” from subsidising the renewable sector are job losses as cheaper forms of energy are crowded out.
Rio Tinto is to power a new bauxite mine in Queensland by solar… But wait! It turns out that the $23 million energy facility is supported by government funding of $11 million from the Australian Renewable Energy Agency (ARENA). The government wants to terminate this outfit but its Green/ALP predecessor placed booby traps to prevent this and installed the former CEO of WWF as its Chair to ensure it would continue its wasteful outlays. He is “angry” that the present government is trying to axe the $1.3 billion his wasteful agency was allocated by its Green/ALP predecessor.
Apparently, however, ARENA, the $10 billion “Clean Energy Finance Corporation”, the farcical $400 million Carbon Storage and Capture spending were all very carefully sandbagged by the Gillard government. According to the present government’s advice this makes it almost impossible to de-fund them or even to give directions on how the money can be spent (or saved).
Andrew Bolt is a journalist and columnist writing for The Herald Sun in Melbourne Victoria Australia.
Andrew Bolt’s columns appear in Melbourne’s Herald Sun, Sydney’s Daily Telegraph and Adelaide’s Advertiser. He runs the most-read political blog in Australia and hosts Channel 10’s The Bolt Report each Sunday at 10am. He is also heard from Monday to Friday at 8am on the breakfast show of radio station MTR 1377, and his book Still Not Sorry remains very widely read.
Read more excellent articles from Andrew Bolt’s Blog . http://blogs.news.com.au/heraldsun/andrewbolt/
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Posted on Thu 05/22/2014 by PA Pundits - International
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