Tuesday, July 16, 2013

Maybe we should be more like Europe

From Via Meadia:
Spain is the latest European country to regret its foray into green energy production. On Friday the Spanish government announced some contentious reforms to its regime of green energy subsidies, which were among the most generous in Europe....
While environmentalists will no doubt be upset, Spain made the clear choice. High electricity rates are an unnecessary and regressive tax on citizens and a serious drag on industry, and green energy has yet to prove itself competitive without substantial subsidies. Spain is right to cut its losses on its costly green energy boondoggle and to refocus its limited resources on the country’s more pressing problems.
The Spanish government is smart enough to do this, and, unlike the United States, they aren't even sitting on top of decades worth of clean natural gas.