Utopia, you are standing in it!

Despite Europe spending €1.2 Trillion on large-scale wind and solar generation, the amount of power being actually delivered in return is risible.

Which is precisely what you’d expect from power generation sources which can only deliver anything like their nameplate capacity when the sun is up, in a cloudless sky, and the wind is blowing at wind speeds greater than 6m/s. Drop the sun drops the wind speed and the whole lot drops off the radar.

For the uninitiated, Ed Hoskins tells the story in pictures below.

A Few Graphs Say It All for Weather-Dependent “Renewables”
Watts Up With That?
Ed Hoskins
5 October 2022

A few graphs say it all for Wind and Solar power

This is the 10-year productivity record for European Weather-Dependent “Renewables”: that is the annual power output divided by the nominal installation rating of the Weather-Dependent “Renewables” installations over the last decade.  The data is…

Many people have been baffled by the Bank of England’s decision to raise interest rates by a historically large three-quarters of a point this week, despite forecasting that the UK economy is sliding into recession. I understand this confusion, but there are three reasons why rates had to be increased.

First, the job of the Bank’s Monetary Policy Committee (MPC) is to worry about inflation, not growth. Some might like to change the MPC’s mandate, but for now it is tasked with keeping inflation at 2%. Currently inflation is over 10%, and forecast to remain high. With inflation now having spread well beyond food and energy prices, the MPC needed to act to prevent a temporary inflation shock from becoming permanent.

Second, the starting point is important. Even after the latest increase, UK interest rates of 3% remain historically low, and are firmly negative in real terms (after allowing for inflation)…

Israel has had five elections in just three years.

It’s this sort of thing that has often led dictators and mere authoritarians to sneer at democracy because it’s so unstable and messy.

Moreover, this involved a candidate for Prime Minister who is currently facing trial on charges of “corruption,” former Israeli Prime Minister Benjamin Netanyahu.

And he’s won – again – and unlike the previous four elections it seems this one was decisive:

A resounding victory for opposition leader Benjamin Netanyahu and his bloc of right-wing, far-right and religious parties, a result that would end a political crisis that has seen five general elections held in under four years.
…
Israel has been rocked by political turmoil since a Netanyahu-led government fell apart in late 2018. Two rounds of elections, in April 2019 and September 2019, failed to yield a winner, and a short-lived unity government formed after the…

Rent-seekers and the MSM keep telling us the transition to an all-wind and sun-powered future is not only inevitable, it’s a cinch.

The power pricing and supply calamity playing out in renewables-obsessed Germany and Britain stands as a pretty fair counterpoint, to that nonsense.

Then, we’re told, it can all be done, provided it’s “done right”; which, in doublespeak, means more of precisely the same; even more $billions in subsidies gifted to crony capitalists, offering nothing but even more hopelessly intermittent wind and solar, in return.

Call it scaling up on an avoidable calamity, or doubling down on an inevitable disaster.

What’s overlooked in their starry-eyed and far-reaching promises about a ‘green’ Utopia, is the volume of mineral and other resources required to get there.

Every wind turbine and solar panel is the product of scarce resources, and not just the rare stuff mined by 9-year-olds in the Congo.

As…

The Laffer Curve is a very straightforward concept.

It graphically illustrates why politicians are wrong if they think you can double tax revenue by doubling tax rates (or that revenues will drop by 50 percent if tax rates are cut in half).

Simply stated, you also have to look at what happens to taxable income.

In cases where taxpayers have a lot of control over the timing, level, and composition of their income, changes in tax rates may cause big changes in taxable income (or “tax base” in the jargon of economists).

None of this should be controversial. Even Paul Krugman agrees that the Laffer Curve exists.

Today, we are going to see that the pro-tax International Monetary Fund also admits there is a Laffer Curve.

Indeed, a new study authored by David Amaglobeli, Valerio Crispolti, and Xuguang Simon Sheng openly states that politicians should be…