Spain’s Self-inflicted Economic Wounds from “Green Jobs” Regimes
…for every renewable energy job that the State manages to finance, we can be confident that on average 2.2 jobs will be destroyed, to which we have to add those jobs that the non-subsidized investment would have created.
Although Germany’s promotion of renewable energies is commonly portrayed in the media as setting a “shining example in providing a harvest for the world” (The Guardian, 2007), we would instead regard the country’s experience as a cautionary tale of massively expensive environmental and energy policy that is devoid of economic and environmental benefits.
With news Ontario is negotiating with South Korea’s Samsung Group for wind turbines and solar panels in a deal Energy Minister George Smitherman says could bring billions of dollars of investment and hundreds of green jobs to the province, we have some questions.
They also apply to the 50,000 “new” green jobs Smitherman and Premier Dalton McGuinty claim Ontario’s Green Energy Act will create over the next three years. Continue reading →
by Michael Trebilcock is Professor of Law and Economics, Faculty of Law, University of Toronto Financial Post
In response to Mr. Lovins’ comments, let me pose the following questions:
If electricity generated by wind power is competitive with other forms of electricity generation, why does it require such large subsidies? In 2008, the U.S. Energy Information Administration reported the following relative subsidies, on a dollar-per-megawatt-hour basis, for 2007: natural gas at 25¢, coal at 44¢, hydro at 67¢, nuclear at $1.59 — and wind at $23.37. And why is the proposed feed-in tariff for wind power in Ontario ($13.5 per kilowatt hour) and related costs at least twice the prevailing price for electricity in the province? If wind power is competitive, why doesn’t the wind industry renounce all subsidies? Continue reading →
Wind power doesn’t reduce CO2 emissions, costs consumers more and kills jobs.
It is important to understand why the Danish government, which appears to have commissioned Mr. Pedersen’s comments, is sensitive to critiques of the Danish experience with wind power. Denmark is home to Vestas, the world’s largest wind turbine manufacturer, with 20,000 employees and a market share of between 20% and 25%. As the market for its turbines in Denmark and other European countries becomes saturated, it seeks to export the Danish experience worldwide. To this end, it recently ran a multi-million dollar global ad campaign with the slogan, “Believe in the wind,” claiming that Denmark has solved the problem of dirty electricity through wind power. Continue reading →
Years ago, Princeton economist Alan Blinder famously exhorted policy-makers to frame policy that was based on soft hearts and hard heads. The McGuinty government’s proposed foray into investments in wind generation upends this admonition by giving us policy that is soft-hearted – and soft-headed.
Andrew P. Morriss, William T. Bogart, Andrew Dorchak, and Roger E. Meiners
An aggressive push for a green economy is well underway in the United States. Policymakers now routinely assert that “green jobs” can simultaneously improve environmental quality and reduce unemployment. Continue reading →