Friday, 11 February 2011

World Bank Joins Rush Away from the Green White Elephant

Picked up from the Filthy Engineer. Well spotted that man.
"With economists plainly joining an increasing number of scientists in global warming skepticism its little wonder there’s now a mass flight away from ‘renewables;’ such that both investors and governments are compelled to follow suit in the clearest indication yet that green energy won’t live up to its promises.

The key to long-term economic success now appears to be safely premised once again on solid market innovation, not ideologically driven government subsidies; such subsidized ventures have a long and notorious history as lame duck enterprises. It seems ‘green renewables’ has become the latest of these white elephants."
Well, well. The markets have got the message, and maybe we can have our 'Green' taxes reduced then. Or am I being over optimistic here?


Angry Exile said...

The green taxes will be the last thing to go I reckon, possibly lagging a long way behind the markets. In fact I've got something in my head to write about the Oz govt bringing in a carbon tax to soften us up for an emission trading scheme afterwards. I was going to bag it on the back of Chicago etc but this is a good addition.

Bill Sticker said...

Chicago Carbon exchange is dead, and the European scheme has been down for months, they say it was 'hacked'. I reckon it crashed, just like Chicago.

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