Geoff Mitchell: Market that is driven by subsidies rather than by economics always fails
Energy House Bill HB 19-1037, “the Colorado Energy Impact Assistance Act,” highlights the complications and negative economic impacts brought about by the pursuit of energy and public utility regulation policies and subsidies that are based on setting CO2 emission targets.
Local elected officials who might not be aware of the failures and high electricity costs to consumers experienced by Europeans, New Englanders and Australians in trying to achieve these preset emissions limits via renewables should heed the words of the former Australian Prime Minister Tony Abbott in his October 2017 address to the Global Warming Foundation in London:
1. Inevitably, our Paris agreement was a compromise.
2. Renewable energy should properly be referred to as intermittent and unreliable power.
3. Throughout last summer, there were further blackouts and brownouts across eastern Australia.
4. A market that is driven by subsidies rather than by economics always fails.
5. We have got ourselves into this mess because successive federal governments have tried to reduce emissions rather than to ensure reliable and affordable power.
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