Hi Keith,

Adding a bit of further support to your argument...

You might be interested to see today's WSJ article. It shows that Germany, the country leading the transition to "net zero" will have to spend another $1.9T between now and 2030 to hit net zero. So about $240B per year. And that's after they have already spent hundreds of billions of Euro's already. And it does not count any cost for replacements (ie old windmills, old solar panels requiring replacement...)

https://www.wsj.com/articles/germany-cost-of-net-zero-green-energy-e671cc91?mod=hp_opin_pos_4#cxrecs_s

And yet for some strange reason, with all of this investment in "cheaper" renewable power, Germany has nearly the highest household electricity prices in all of Europe. Who would have thought? If anyone believes that, once the next $1.9T of capex gets spent, that the household electricity prices will drop... I have five magic beans to sell you!


Residential electricity prices including taxes (February 2023)

060504030201055545352515c€/kWhUkraineBelgradeHungaryMontenegroMaltaCroatiaNorwayBulgariaRomaniaSloveniaSlovakiaPortugalLuxembourgPolandSpainFinlandFranceEstoniaLithuaniaSwitzerlandEULatviaGreeceSwedenNetherlandsBelgiumAustriaCyprusDenmarkCzechiaItalyGBGermanyIreland49.949.949.549.548.548.54848414140.540.537.537.536.136.1353533.533.531.831.830.230.229.529.527.727.727.527.527.327.326.726.725.525.524.124.122.722.721.421.421.121.119.719.717.417.416.316.315.315.314.614.614.414.412.312.310.510.59.29.29.19.14.44.428.328.3

Source: HEPI and VaasaETT • (Prices reflect costs in capital cities)

And at the same time, guess which country has the highest energy subsidies to their citizens, as a % of GDP? If you guessed Germany you would be right.


Energy crises: Total support to households and firms as percentage of GDP (Sep 2021 - Jan 2023)

Energy crises: Total support to households and firms as percentage of GDP (Sep 2021 - Jan

0987654321%DenmarkFinlandCyprusIrelandSwedenHungaryBelgiumEstoniaNorwayPolandCrotiaLatviaLuxembourgSpainFranceCzechiaSlovakiaUKRomaniaSloveniaPortugalNetherlandsLithuaniaItalyGreeceAustriaBulgariaMaltaGermany7.47.46.86.85.75.75.35.35.25.25.25.25.15.14.64.64.24.2443.83.83.83.83.83.83.83.83.73.73.43.43.43.43.33.33.23.22.22.222221.91.91.71.71.31.31.31.30.90.90.60.60.50.5

Source: Bruegel • (See the Bruegel website for methodology. Last update 13.02.2023)

https://www.euronews.com/next/2023/03/29/energy-crisis-in-europe-which-countries-have-the-cheapest-and-most-expensive-electricity-a

If only the Germans had bought more clean coal from WHC instead!

Cheers

Cuppa