Keith Diamond: the folly of green-energy-based economies

Thanks to Keith Diamond for these thoughts...

I just read the following article on Yahoo:  Portugal May Collapse.  I am amused because both Spain and Portugal were lauded by many media outlets for embracing so called green energy where almost 50% of they energy comes from a combination of hydroelectric, solar and wind sources.  Here is the CNN article:
Portugal wrongly thought that companies would flock to their EU subsidized green energy initiative because, as the left believes naively, that companies will pay more for energy costs for producing goods within their borders.  However, we both know that the only way for green energy to provide an incentive for companies to use their power is either a lower cost of consumption compared to conventional energy sources or by government intervention with tax credits.  The problem is that the inefficiency of green power means all governments must not only supplement the installation of green energy projects, but also the tax breaks too.  Therefore, it requires more and more borrowing which leads to a collapse of the government.

When will the lefties get their heads out of their a$$es and realize that destroying an economy is no way to empower people?

Take care,


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