Filed under: Capitalism, Economy, Energy, Europe, Junk Science, The United States | Tags: Distorting Markets, Germany's Energiewende, Subsidies Don't Work
Country after country in Europe is abandoning, curtailing or reneging on once-generous support for renewable energy. Green dreams are giving way to hard economic realities. In a time of straightened budgets and recession, they are beginning to recognize that their ill conceived projects have been a self-inflicted economic and political debacle.
A study by British public relations consultancy CCGroup analysed 138 articles about renewables published during July last year in the five most widely circulated British national newspapers: The Sun, the Times, The Daily Telegraph, Daily Mail and Daily Mirror, which have a combined daily circulation of about 6.5 million.
The study found a number of trends in the reporting of news about renewable energy. The media’s sentiment toward the renewable industry was cold. More than 51 percent of the articles published were negative or very negative toward the industry.
EU member states have spent about €600 billion ($882 billion) on renewable energy projects since 2005, Germany’s green energy transition alone may cost consumers up to €1 trillion by 2030. These billions of Euros are being paid by ordinary families in what is certainly one of the biggest wealth transfers from the poor to the rich in modern European history. Rising energy bills are dampening consumer spending, a poisonous development for a Continent struggling with a severe economic crisis.
Germany has Europe’s most expensive electricity at 26.8 euro cents a kilowatt hour. Angela Merkel has warned that the rapid expansion of green energy is weakening Germany’s competitive advantage in the global economy. More than half the world’s solar panels are installed in Germany, meeting almost 40 percent of the nation’s peak electricity demand. But during many weeks in December and January, Germany’s 1.1 million solar power systems generated almost no electricity. Solar panels just stopped generating, and Germany had to import nuclear energy fro m France and the Czech Republic.
Siemens, one of Germany’s biggest companies is abandoning the industry. They announced in June that they are closing the entire solar division, at a loss of about €1 billion. Last month they fired the chief executive. Interestingly, as I was writing this I was startled to hear a commercial extolling the wonders of solar energy — from Siemens. They’re going to unload their excess stock on us?
One of the unintended consequences of Germany’s Energiewwende has been that preferential treatment for wind and solar has meant that natural gas plants have become unprofitable, and are being mothballed. Governments are not successful in picking winners and losers, Competition and the free market will do a far better job of directing investment. Government subsidies simply suppress the information that the marketplace is trying to send.
Would someone please explain this to President Obama?
Filed under: Architecture, Europe, Humor, News of the Weird | Tags: Architechural Accidents, Spanish Skyscraper, The InTempo Building
This 47-story skyscraper under construction in Alicante, Spain has had its construction fraught with problems, including allegations of fraud from both customers and suppliers who are owed $3.3 million. The fact that it looks like a giant pair of pants is beside the point. The real problem — the really, really big one is that they forgot the elevator shafts. “In what will surely go down in history as one of the greatest architectural blunders, the building was almost completed when it realized that it had excluded plans for elevator shafts.” Great analogy for ObamaCare.
The comments were a riot!
“On the other hand the advertising potential of this design is impressive. Haggar and Dockers are in a bidding war right now.”
“Can I show you something nice in a 40th floor walk-up?”
“On the subject of Spanish design flaws, their new, 2 Billion Euro submarine is 70 tons too heavy. If it submerged it wouldn’t be able to resurface.
Its named the Peral.”
“This is a great apartment if you ‘re into cardio.”
ADDENDUM: This story is turning out to be a hoax. The building is so dramatically ugly that it is easy to believe stories of major mistakes. The building, according to a Spanish blog, Barcepundit, does have elevators—11 of them: 3 in each tower plus 4 for the penthouses on top and a panoramic one on the outside. If you look really closely at the left tower, you will see an orange stripe which is the panoramic elevator.
Supposedly a bad translation from a confusing article in El Pais, a Spanish daily newspaper that only touched on the elevator issue tangentially. American TV crews are reportedly on the way to investigate. Der Spiegel reported on the story and had a building planned for only 20 stories, a late decision to make it significantly taller, with no freight elevator until the first 23 stories were constructed. When the freight elevator was finally installed, it collapsed, injuring 13 workers.
So what will happen when U.S. TV crews arrive? If it is a non-story and they have been hoaxed will they still report it? The town is apparently Benidorm, not Alicante, but is Alicante a province, a county? I have no idea how a story can get so fouled up. It seems to be a town with a magnificent long beach. The building towers over the rest of the town and is beyond ugly. I apologize for falling for a story without further checking, but further checking would not have been accurate anyway.