What happens to renewable energy when alarmist climate science collapses? And even if the ideological rearguard action drags on for years, what about the fact that shale gas is about to make renewables look even more ridiculous in terms of both economics and emissions? The feed-in tariffs that the Chinese are so assiduously avoiding at home are analogous to the medieval scam of coin-clipping, only in reverse. Governments hope that if a small amount of ludicrously expensive renewable electricity is loaded onto consumers’ bills, they might not notice. The grand policy rationale behind this piece of economic self-mutilation is that alternatives will eventually yield a market bonanza, and any nation that has successfully promoted solar and wind “champions” will mop up all the business, as in the monopoly fantasies of Karl Marx. This policy is nonsensical at many levels. Full story here
