Saturday, November 21, 2015

Britain Bails on Green Energy

It is a truism that only free markets can provide for environmental improvement.  If there are any doubts, check out the environmental record of the US and Canada and compare those results to the environmental record of China or the old USSR (or modern Russia).

So, when Britain and Europe began subsidizing green energy businesses and announced its commitment to fight climate change, you knew what the outcome would be.   All of these efforts had the effect of increasing the cost of energy to the average citizen, who might put up with that for a while, but not for long.

In a detailed article in today's Washington Post, Griff Witte discusses Britain's retreat from it's clean energy initiatives.  Having literally wasted billions of pounds subsidizing failing clean energy businesses, the Brits have now thrown in the towel, eliminating 90 percent of the subsidies to clean energy initiatives and walking away from numerous failed clean energy projects.  They didn't work, they cost a lot of money, and the public grew tired of paying for nothing.

Read the article.

The climate change advocates might win an occasional battle, but, in the end, taking the world back to stone age economics will not prove a winning strategy for the environmental crowd.

True environmental progress can only be funded by the economic growth that free markets provide, as history shows.  The idea that stagnant, over-bloated, government-run economies can fight climate change is absurd on the face of it.  So, Britain retreats, as they all will, in time.

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