Billy_Bob
Diamond Member
Well, in Australia were about to find out. With so much hype about wind being even and compatibly the same as fossil fuels they no longer need subsidies to survive and can stand on their own. Tony Abbot has withdrawn all subsidies to wind farms effective immediately. 1.7 billion dollars worth of handouts just got cut.
According to the Sydney Morning Herald;
I guess were going to find out if Wind is as stable as they have been touting... and real fast to boot...
Read more: http://www.smh.com.au/federal-politics/political-news/tony-abbott-has-escalated-his-war-on-wind-power-20150711-gia3xi.html
According to the Sydney Morning Herald;
Tony Abbott has dramatically escalated his war on wind power, creating a new cabinet split and provoking a warning he is putting international investment at risk.
Fairfax Media can reveal the government has ordered the $10 billion Clean Energy Finance Corporation not to make any new investments in wind power projects.
Treasurer Joe Hockey and Finance Minister Mathias Cormann have issued the so-called green bank with a directive to change its investment mandate, prohibiting new wind funding. It’s understood the directive was issued without the approval or knowledge of Environment Minister Greg Hunt, angering the minister.
The decision is another blow for the multibillion-dollar wind industry, which has just started to recover from the uncertainty created by the government’s Renewable Energy Target review. Analysts say $8.7 billion is expected to be invested in wind power in the next five years, while the corporation has invested about $300 million in wind projects to date.
I guess were going to find out if Wind is as stable as they have been touting... and real fast to boot...
Read more: http://www.smh.com.au/federal-politics/political-news/tony-abbott-has-escalated-his-war-on-wind-power-20150711-gia3xi.html
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