Obama and Economic Suicide
Costly and erratic “renewable” energy sources: Obama is leading us like lemmings into the same suicidal behavior that is destroying Europe’s prosperity
By Dennis Avery
Tuesday, November 12, 2013
Churchville, VA—President Obama is demanding, by Executive Order, what congress will not give him by vote. With winter approaching and the “ObamaCare” mess hanging over his shoulder, he is now ordering the U.S. economy to hitch itself to more and more of the costly and erratic “renewable” energy sources. These have already bankrupted Spain and are about to bankrupt Great Britain and Germany.
Spain, Britain, and Germany are already years further down the road to the “renewable” blackouts President Obama now demands for America. Spain is already broke, and Britain is heading for mass energy poverty for its people. German industries meanwhile threaten to flee their country in favor of markets where they can get electricity that competes with coal in China and India.
In Britain, the government’s Energy Act demands the nation produce 30 percent of its electricity from renewable sources by 2020, up from the current government share of 12 percent. The target for 2050 is a whopping 80 percent! The high cost of building nuclear reactors has ruled out that option; the EU is demanding that coal be phased ou. Britain has big shale gas deposits, but the country has not approved fracking for the gas.
The only new power source the UK has left itself is thousands of huge, barge-mounted wind turbines in the turbulent North Sea! These sea-going windmills cost more to build and vastly more to maintain than land-based turbines—and could quadruple England’s future electric bills. British chemical plants are already starting to shut down, even as London newspapers predict fuel poverty (spending more than 10 percent of income for heat) for nearly half the population.