Stupid Nation: Australians crave cheap energy, yet think “low cost” renewables need support

It’s like an Easter Island moment for an advanced economy: somehow “cheap” energy can’t compete in a free market without government subsidy. A Nation of Serfs have forgotten what a free market is. Will cheap desirable stuff sell itself, or not?

The contradictions mount. Electricity and gas prices are hitting escape velocity:

The wholesale electricity spot prices was about $35 a megawatt hour during 2011, rose to $58 after the carbon tax was introduced and is now about $130 as gas prices push up energy generator costs.

Not surprisingly 70% of Australians want cheaper, more reliable electricity. Only one person in four would rather cut emissions than cut the bill. Yet the agitprop telling people that renewables are “cheap” has been so pervasive that fully 38% of Australians think the government should raise the renewable energy target, and 23% think it should stay the same. It follows that around 4 in 10 Australians apparently hold the bizarre idea that wind and solar are cheap and yet in need of government support, as if there are no investors willing to put money into supplying something that 100% of people want at a price cheaper than what they currently pay. So […]