MCViewPoint

Opinion from a Libertarian ViewPoint

Report: Renewable Energy Is Bigger ‘Scam’ than Bernie Madoff and Enron

Posted by Martin C. Fox on October 13, 2017

This…from the land of the Green party and the carbon tax.

http://www.breitbart.com/big-government/2017/10/09/report-renewable-energy-is-bigger-scam-than-bernie-madoff-and-enron/

The greatest scam being perpetrated against taxpayers and consumers is renewable energy, according to a new analysis published by the Australian, greater even than Ponzi, Madoff and Enron.

While sinking enormous financial resources into propping up renewable energy prospectors, national governments are providing no perceptible benefits to their citizens, writes Judith Sloan, a renowned Australian economist who has served on the Australian government’s Productivity Commission.

“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,” Sloan writes, before providing readers with an avalanche of economic data to back up her assertion.

At the same time, the Australian Renewable Energy Agency “shovels out hundreds of millions of dollars annually to subsidise renewable energy companies, many of which are overseas-owned,” she states, and the Clean Energy Finance Corporation was given $10 billion in equity by the Gillard Labor government “to lend or grant money to renewable energy companies.”

Despite this enormous taxpayer “investment,” so-called renewable energy has yet to pay any dividends or to suggest it will be economically viable for the foreseeable future.

According to Forbes, on a total dollar basis, wind and solar together get more from the federal government than all other energy sources combined, despite the fact that neither is anywhere close to self-supporting. Wind has received the greatest amount of federal subsidies. Solar is second.

Based on production (subsidies per kWh of electricity produced), however, solar energy “has gotten over ten times the subsidies of all other forms of energy sources combined, including wind,” writes energy expert and planetary geologist Dr. James Conca.

Be seeing you

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I am not a number. I am a free man!-Number 6

 

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