Australia’s economic hopes go up in smoke.
***
With fear, loathing and recriminations playing out in Canberra about South Australia’s electricity debacle and the skyrocketing power prices mass blackouts and routine load shedding its obsession with wind power has delivered, Sabine Schnittger and Brian Fisher of BAEconomics have thrown the spotlight back on the Federal government’s family, job, growth and business killer: the Large-Scale Renewable Energy Target.
As STT has repeatedly pointed out, the LRET operates as a $3 billion a year tax on all Australian electricity consumers, designed to be funnelled to wind power outfits as a subsidy: the largest single industry subsidy scheme ever in the history of the Commonwealth.
We’ll start with this wrap up from The Australian.
Bill to prop up green power hits $3 billion a year
The Australian
Simon Benson
6 February 2017
The true cost of subsidising renewable energy generation is estimated to…
View original post 3,107 more words
Utopia, you are standing in it! 
Feb 12, 2017 @ 19:53:15
subsidies would not be needed if the social costs of carbon was taxed
LikeLike