Every day....more evidence of not winning!!!! The latest from the EU who are ******* themselves with this obsession with renewables, but the consequences are doing some serious economic damage. Geee.....what a surprise. If you are a dumbass, that is!!!
Today in Forbes >>>>
Energy 10/20/2013
European Economic Stability Threatened By Renewable Energy Subsidies
The stability of EuropeÂ’s electricity generation is at risk from the warped market structure caused by
skyrocketing renewable energy subsidies that have swarmed across the continent over the last decade.
This sentiment was echoed a week ago by the CEOs of EuropeÂ’s largest energy companies, who produce almost half of EuropeÂ’s electricity. This group joined voices calling for an end to subsidies for wind and solar power, saying the subsidies have led to unacceptably high utility bills for residences and businesses, and even risk causing continent-wide blackouts
The group includes GermanyÂ’s E.ON AG, FranceÂ’s GDF Suez SA and ItalyÂ’s Eni SpA, and they unanimously pointed the finger at
European governmentsÂ’ poorly thought-out decision at the turn of the millennium to promote renewable energy by any means.
The plan seemed like a good one in the late 1990s as a way to reverse EuropeÂ’s reliance on imported fossil fuels, particularly from Russia and the Middle East. But it seems the execution hasnÂ’t matched the good intentions, and the authors of the legislations didnÂ’t understand the markets.
“The importance of renewables has become a threat to the continent’s supply safety,” warned senior global energy analyst, Colette Lewiner, referring to a recent report by a Europe energy firm, Capgemini.
“We’ve failed on all accounts:
Europe is threatened by a blackout like in New York a few years ago, prices are shooting up higher, and our carbon emissions keep increasing,” said GDF Suez CEO Gérard Mestrallet ahead of the news conference.
Under these subsidy programs, wind and solar power producers get priority access to the grid and are guaranteed high prices. In France, nuclear power wholesales for about €40/MWhr ($54/MWhr), but electricity generated from wind turbines is guaranteed at €83/MWhr ($112/MWhr), regardless of demand. Customers have to pick up the difference.
European Economic Stability Threatened By Renewable Energy Subsidies - Forbes
Good intentions with shitty-ass results. Yep....sounds like modern liberalism to me!!



These bozo's who push this crap have no regard for "costs" just like any bonafide lefty asshole!!!
But eventually......the people will punt the fuckers out when the taxes keep going up and the blackouts come!!!
