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HOW Green Central Planning And Big Government Has Destroyed Australia’s Electricity Market

“We get a tax credit if we build a lot of wind farms. That’s the only reason to build them. They don’t make sense without the tax credit.” – Warren Buffett

“Suggesting that renewables will let us phase rapidly off fossil fuels in the United States, China, India, or the world as a whole is almost the equivalent of believing in the Easter Bunny and Tooth Fairy.” – James Hansen (The Godfather of global warming alarmism and former NASA climate chief)

Renewable energy technologies simply won’t work; we need a fundamentally different approach.” – Top Google engineers

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AUSTRALIA’S once key economic advantage and proud boast of having the cheapest power prices in the world has been sacrificed at the altar of climate change by its politicians’ obsession with global warming theory and subsequent mad rush into large-scale unreliable ‘energy’ sources – wind and solar.

BIPARTISAN appeasement to the UN climate gods has come at a major cost to Australian businesses and households, now exposed to some of the highest power prices in the world, South Australia officially the highest.

 

JUST as socialist central planning failed miserably before it was replaced by free market economies, green central planning will have to be discarded before Australia will see a return to energy security and competitive pricing.

TWO must read articles via the IPA and Australian columnist Chris Kenny, exposing the entirely man-made energy crisis that is crippling industry and eroding the living standards of everyday Australian’s…


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The Destruction By Government Of Australia’s Electricity Market

Throughout the western world over the last 20-30 years in particular, we have witnessed the tightening hand of the state, which has become ever more bold in insisting where and how we live, who we can work for or employ, what we can say and think, whose car we can get into, whose home we can stay in, and what we’re allowed to put into our mouths.

But these remarks are about how government intervention has destroyed the electricity market in Australia and throughout much of the western world, and what it means for personal and economic liberty, now and in the future.

Let me start by outlining what a market should be, and how it should work with electricity.

A real market is simply a place where consumers and producers meet, and agree on a price and means to satisfy consumer demand.

A real electricity market is one open to all fuel technologies – coal, gas, uranium, wind, water or the sun. Where producers compete to grow market share and increase their profit based on efficient production, with all consumers – household and business – the winners.

Read the rest of this entry »

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Despite ‘green dreams’, EIA report projects fossil and nuclear fuels provide 83% of total world energy in 2040

FROM the department of reason trumps symbolic gestures to the climate gods …

Watts Up With That?

Guest essay by Larry Hamlin

The latest EIA 2017 IEO report projects world energy consumption to increase by 28% from 2015 through 2040.

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Non OECD countries (the developing nations-China, India, etc.) account for about 84% of this increased energy use with non OECD Asia making up the majority of this energy use growth.

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Significant growth (43%) in natural gas use is projected in meeting the worlds total energy increase through 2040.

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Petroleum and other liquid fuels use growth (18%) continues but at a slower pace than natural gas.

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Coal energy use is projected to be stable during this period with declines in China offset by increased use in India.

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Renewables (hydro, wind, solar, geothermal, other) is the fastest growing energy source with wind, solar and natural gas supplying most of the electricity sector growth.

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Renewables are projected to supply 31% of world electricity generation in 2040 the same as coal…

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ANOTHER Win-Win! “Climate Talks Open Amid Anger Over Trump’s Coal Support”

“According to reports, members of the Trump administration will lend their support to an event to promote fossil fuels and nuclear power as solutions to climate change.”

Gold!

Watts Up With That?

Guest taunting post by David Middleton

  1. Win: President Trump announced US withdrawal from Paris climate treatyagreement joke.
  2. Win: US will use its remaining 3 years as a party to the joke as a vehicle to promote fossil fuels.

bbc_coal

Over the next two weeks, negotiators hope to clarify the rulebook of the Paris climate agreement.

It is the first major meeting since President Trump announced plans to take the US out of the Paris pact last June.

Many delegates are unhappy with White House plans to promote fossil fuels here as a “solution” to climate change.

[…]

According to reports, members of the Trump administration will lend their support to an event to promote fossil fuels and nuclear power as solutions to climate change.
Speakers from coal giant Peabody Energy, among others, will make a presentation to highlight the role that coal and other fuels can play in curbing the…

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America’s Top Green – Michael Shellenberger – Pushes Nuclear Future & Calls Wind & Solar ‘The Worst for the Enviroment’

Shock news. And, how many f*ng lives and businesses have been destroyed by useless weather-dependent windmills and solar panels for the virtue-signalling climate morons to finally get it?

STOP THESE THINGS

In the climate alarmists’ worldwide crusade against carbon dioxide gas, only the most delusional still believe that wind and solar power add anything to their arsenal.

Australia is the only G20 country with a legislated prohibition on nuclear power generation. However, the combination of the Federal government’s new National Energy Guarantee (NEG) and the associated Emissions Obligation puts nuclear power firmly on the table.

As we have said repeatedly, nuclear power is the only stand-alone power generation source which is capable of delivering power on demand, without CO2 emissions being generated in the process. From a power retailer’s perspective, nuclear power is a source which is obviously capable of satisfying both its NEG obligation and its Emissions Obligations, were such a choice available.

When Alan Finkel put together his unicorns and pixie dust review of Australia’s renewable energy debacle, he managed to dismiss nuclear power in two short paragraphs.

Now that…

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The Obscene Cost of Australia’s Renewable Energy Debacle

WINDMILLS and SOLAR PANELS “are being built only because government is forcing people to buy it. If renewable energy were as cheap as its advocates say, it shouldn’t need government to force people to buy it via various state and federal renewable energy targets [RET].”

ANOTHER top read via STT…

STOP THESE THINGS

What a difference a 20% year-on-year hike in retail power bills can make. Add in the South Australian experience of routine load shedding and statewide blackouts. Top it off with the threat of widespread blackouts this Summer; and not just confined to SA, but likely to send Victorians back to the Victorian age and New South Welshmen scrambling for candles, too, and you have an entire Country now obsessed about power.

In the face of a self-inflicted renewable energy debacle, all of a sudden, people who couldn’t tell the difference between baseload and their elbow have become energy experts, overnight. Pundits and commentators all think they have the answer.

Unlike the Johnny-come-latelys, The Australian’s Adam Creighton has demonstrated a pretty fair grip on the greatest Commonwealth mandated rort from the very beginning. Here’s Adam.

Come together, power suppliers
The Australian
Adam Creighton
11 September 2017

Adam Smith, the great free-market economist, might…

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Last Man Standing: Nuclear Plants Power Texans During Deluge – Wind Turbines Automatically Shut Down During Hurricane Harvey

WEALTH, Capitalism and Technology save lives. Green energy, Socialism and Poverty kill…

STOP THESE THINGS

Texans have been in the news for all the wrong reasons, over the last week or so.

Hurricane Harvey belted the Texan coast with 130 mph (209 kph) winds and delivered a deluge of biblical proportions.

For some time now, Texas has been the pinup girl for American wind worshippers. With some 21,000 MW of nominal capacity spread over 40 projects, like everything in Texas, wind power is ‘big’.

Except, of course, when the weather turns nasty.

Modern industrial wind turbines do not operate when wind speeds hit around 25 m/s (90kph or 55mph) – Hurricane Harvey dished up a gale double that speed, and more.

In order to prevent their catastrophic disintegration (as seen in the video below) Texas’s turbines downed tools, en masse, (as they are deliberately designed to do) leaving the critical work of providing power to storm battered Texans to its fleet of nuclear power plants.

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The Cost Of Going Green: Taxpayers Hit With A $60Bn Power Bill

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The cost of a renewable energy push has been revealed | The Australian

“We get a tax credit if we build a lot of wind farms. That’s the only reason to build them. They don’t make sense without the tax credit.” – Warren Buffett

“Suggesting that renewables will let us phase rapidly off fossil fuels in the United States, China, India, or the world as a whole is almost the equivalent of believing in the Easter Bunny and Tooth Fairy.” – James Hansen (The Godfather of global warming alarmism and former NASA climate chief)

Renewable energy technologies simply won’t work; we need a fundamentally different approach.” – Top Google engineers

***

UPDATE on the cost to the taxpayer of politicians crazed obsession with global warming theory and the green faith, leading to the mad push for renewable unreliable energy.

Via The Australian :

Taxpayers will have paid more than $60 billion through federal renewable energy subsidies by 2030, about twice what the crumbling car industry received over 15 years and enough to build about 10 large nuclear reactors.

The government’s large and small-scale renewable energy ­targets, which will compel energy retailers to buy 33 terawatt hours of wind, solar and hydro energy by 2030, will deliver about $45bn of subsidies to renewable energy producers over 20 years, according to analysis by The Australian.

The grab bag of direct subsidies from the Australian Renewable Energy Agency and the Clean Energy Finance Corporation — which have spent or lent concessionally, respectively, $870 million in grants since 2010, and $4.3bn since 2013 — are on top of that.

Meanwhile, the proposed clean energy target arising from the government’s Finkel review, would mandate a further 33TWh of ­energy from renewable sources, costing an extra $11.3bn over the 10 years to 2030.

Government MPs yesterday sounded the alarm over the subsidies and called for clarity over government plans for a new coal-fired power station.

The chairman of the Coalition backbench committee for energy, Craig Kelly, described the costs of the subsidies as an “appalling waste” resulting from an “ideological rush to renewables”.

“No one will ever be able to compute the full opportunity cost of the alternate productive assets that this capital could have been invested in,” Mr Kelly said.

“We already have some of the highest electricity prices in the world. And what industry will we still have if we go down this track?”

Victorian Nationals MP Andrew Broad, chairman of the standing committee on the environment and energy, said the RET should be scrapped to allow renewables to compete on merit.

“To spend all that money and still have expensive power prices means the settings are all wrong,” Mr Broad said.

The Productivity Commission found the automotive industry received the equivalent of about $30bn of industry assistance between 1997 and 2012. It estimated up to 40,000 people might lose their jobs following the withdrawal of Toyota, Holden and Ford as carmakers in Australia, including job losses along the supply chain.

The 39 renewable energy projects under construction or being completed this year have created 4400 jobs, according to the Clean Energy Council’s latest figures.

ACIL Allen Consulting chief executive Paul Hyslop yesterday told a parliamentary inquiry that it was more cost-effective to hold off any investment decisions in low-emissions technologies under renewable energy schemes until the “last possible minute”.

“Solar costs have probably fallen 75 to 80 per cent in the last six or seven years,” Mr Hyslop told the energy and environment committee. “If we had not done anything seven years ago and today we then did all those things, we could have … two to three times as much solar (energy generation) in roofs for the same amount of investment over that period.

“If you think that the cost of ­renewables and low-emissions technology is falling rapidly, absolutely put it off for as long as possible.”

The Victorian government last week announced a 25 per cent RET by 2025, following South Australia’s 50 per cent target by 2025 and a 100 per cent target in the ACT.

Economist Geoffrey Carmody, a founder of Deloitte Access Economics, suggested solving the “trilemma” of low-emissions, reliable and low-cost energy should include nuclear power. The South Australian royal commission into nuclear power put the cost of a large-scale nuclear reactor at $9.3bn.

“If we sweep nuclear energy off the table in favour of renewables, achieving these three conflicting objectives with one instrument — renewable energy — is numerical nonsense,” Mr Carmody said.

Australia is the only G20 country to have banned nuclear power.

Mr Broad suggested yesterday that to provide investment certainty, the government could consider setting a higher emissions intensity threshold of 0.9 tonnes of carbon dioxide per megawatt hour as part of any clean-energy target for some projects — the terms of which could be reviewed after a set period of eight to 10 years.

“I think we’ve got to do something to create certainty in the market,” Mr Broad said.

He said a lower threshold of 0.6 tonnes — the scenario modelled by chief scientist Alan Finkel in his review into the national electricity market — would not cover a new coal-fired power station, although Dr Finkel has said the difference between the two thresholds would “not be substantial”.

The construction of a new 1000MW high-efficiency, low-emissions coal-fired power station has been estimated at $2.2bn according to an analysis compiled by power and energy specialists GHD and Solstice Development Services.

It found such a plant would deliver the cheapest electricity on the market.

Malcolm Turnbull this week opened the door to using finance from a $5bn federal infrastructure fund to help build a coal-fired power station.

Mr Kelly said yesterday a decision on a new plant needed to be made urgently because the 45-year-old Liddell coal-fired power station near Muswellbrook, NSW, was scheduled for closure in 2022 and it would take at least five years to build a new plant. He said it made sense for any new coal-fired power plant to be built in NSW instead of Queensland.

Queensland LNP leader Tim Nicholls is pledging to fast-track a project using the latest high-energy low-emissions technology to be built and run by the private sector.

“We basically need a decision on that by early next year,” Mr Kelly said. “A HELE plant would favourable.”

The cost of going green: taxpayers hit with a $60bn power bill | The Australian

 

Former Labor Party minister, Graham Richardson, on the money:

Every sector in our economy is struggling to cope with [electricity] prices that have almost doubled during the past five years … For the past few years many pensioners have sacrificed heat in winter and airconditioning in summer. Now low to middle-income families are frantically trying to reduce their power bills as well.

While all of this is happening, our Prime Minister sits down with the chiefs of the electricity companies to ask them to be nice to their clients and offer them the cheapest possible options. The problem is that in a free-market capitalist economy, private business is supposed to maximise profits for shareholders. I, for one, will not hang by the neck waiting for my friendly electricity retailer to offer me a way of paying them less. Surely Malcolm Turnbull has got something better to do to fill in his diary.

Andrew Bolt:

What a colossal waste – and to think that simply building the reactors would have given us more reliable power, too: “Taxpayers will have paid more than $60 billion through federal renewable energy subsidies by 2030, … enough to build about 10 large nuclear reactors.

$60 BILLION OF WARMIST WASTE | Herald Sun

Billions and billions more of taxpayers hard-earned money wasted on fake fixes to a fake catastrophe.

Insane.

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