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Green Financial Armageddon In Spain

Wind and solar power have caused a deficit of more than 26 billion euros in Spain’s energy market.

Wind and solar power have caused a deficit of more than 26 billion euros in Spain’s energy market.

Spain was one of the first European countries to Green their economy and use the German Green Energy subsidy model, driven by the socialist zeal of the then Spanish government, going Green was done literally at all costs.

The Great Man Made Global Warming boondoggle was always a cause espoused by the left, the bright Green future of renewable energy, the millions of Green jobs that would be created, prosperity and wealth from cutting edge Green technologies would flow endlessly as the rest of the world rushed to embrace the brave new Green world, bit of shame really, all in all, that the Green pipe dreams, like their Green Armageddon scenarios of global climate catastrophe, failed to happen.

The real cost of going Green to Spain has been horrendous, every Green job that was created killed 2.2 jobs in non Green industries, as the costs of the Green subsidies mounted so the new Spanish Government started to cut the subsidies for wind and solar and the familiar story of the Green death spiral started.

If that were not bad enough, now Spain’s Green Chickens have come home to roost in their eco friendly sustainably sourced coop: Read the rest of this entry

Hurricane Blows Through The US Wind Industry

The tax credit extension for US wind power subsidy has been dropped and a new report says that half of US off shore wind turbines would be destroyed in a hurricane

The global trend in cutting the tax payer funded Green subsidies that allow wind and solar to exist, has arrived in the United States.

In the US wind farms have been subsidised since 1992 by the Wind Production Tax Credit (PTC), which was usually extended for 1 – 2 year periods; in 2009 the American Recovery and Reinvestment Act extended subsidy for wind power until the end of 2012.

An extension of the PTC, the subsidy that allowed wind to be competitive with other forms of energy, has been left out of a payroll tax cut extension currently making its way through the US  House of Representatives, without a change of policy wind subsidy ends in 2012.

The Americans have subsidised wind power for 20 years, and yes, you guessed right without Green taxation the US wind industry is dead. Read the rest of this entry