Booker On The Rising Cost Of The Climate Act

By Paul Homewood

 

Booker highlights the latest OBR projections for the costs of climate policy:

 

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For those of us who follow the make-believe of our crazy national energy policy, last week’s Budget did at least yield one welcome piece of news. This was Philip Hammond’s announcement that there are to be no new subsidies for green energy schemes until 2025, which seems finally to be putting the kibosh on that ludicrous pipe dream that we should all have to help to fund “tidal lagoon” power stations in Swansea Bay, Cardiff and elsewhere.

I have been exposing the practical insanity of this project since 2015, and among those celebrating last week were the residents of the Lizard in Cornwall, who have been fighting plans to create a vast new quarry near their homes, to ship millions of tons of rock a year to Wales for the gigantic breakwaters needed for these schemes.

Meanwhile, the Office for Budget Responsibility confirmed its forecasts that, during the next five years, we shall still be paying around £70 billion, equivalent to nearly £3,000 for every household in the land, for those ever-rising “green” subsidies and levies designed to “decarbonise” our economy under the Climate Change Act. At the same time, to show just how dishonestly all this is not explained to us by our politicians, the Commons Public Accounts committee issued a report fiercely critical of how the Cameron government’s deal with the French and Chinese governments over the new nuclear power station at Hinkley Point will only “hurt the poor”, by allowing them to charge £92 per megawatt hour for its electricity, or twice its current wholesale price of £45.

Yet these virtue-signalling politicians said nothing at all about how, despite recent price falls for new projects, we have already been paying up to £161 per megawatt hour, or three-and- a-half times the going rate, to subsidise giant offshore wind farms around our coasts – any more than did the BBC, in covering its report under the headline “Hinkley Point will ‘hit the poor hardest’ say MPs”. How sensible of them all never to tell us the full truth.

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For those who missed it, the official OBR tables can be seen here.

via NOT A LOT OF PEOPLE KNOW THAT

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November 26, 2017 at 05:42AM

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