Renewables being the ‘cheapest form’ of energy is a‘perpetual lie’
Renewablesbeing the ‘cheapest form’ of energy is a ‘perpetual lie’ (msn.com)
Former speaker of the House Bronwyn Bishop says renewables being paradedas the “cheapest form” of energy is a “perpetual lie”.
Ms Bishop joined Sky News host Paul Murray to discuss the government’scontinued push for renewable energy.
“I have said all along right from when I was still in the parliamentarguing against these policies that the cost of electricity is – what it coststo get it from the generator, from the point of generation to your house oryour business,” she said.
“That’s the cost.
Commentby MartinBrooks1h
Projected cost of decarbonising the grid has increased 20 times in twoyears. From $78 billion to $1.5 trillion by 2030 - and up to $9 trillionby 2050. Last July, the former chief scientist Robin Batterham at Net ZeroAustralia provided a revised estimate of the capital costs of decarbonising thegrid. It turns out that Labor’s original cost estimate was out by a factor of20. Australia’s best-ever modelling exercise is a fraud as the costrequired to transform the grid by 2030 has jumped from $78 billion to $1.5trillion in 2030 – a mere down payment on the final bill of $9 trillion by2050. Australia’s current annual GDP is about $2 trillion. Therefore, the $9trillion needed for the 2050 emissions target will cost over four times ourannual economic production. Let that sink in for a minute – our government hascommitted this country to spend an obscene amount of money over the next twodecades, even when debt is at record highs. Where will the money come from in ahighly competitive global capital market and rising interest rates?
