The headline is taken from an article in the Financial Times - see this link (£) here. I found this passage particularly significant:
"Ms Rudd (the Climate Minister) is on shaky ground when she warns green technologies not to expect permanent subsidy. Decarbonising energy is the economic equivalent of pushing water uphill. Carbon-intense methods of driving a turbine or car may always outperform new technologies. Coal, oil and gas are widespread, densely packed with kilojoules and easily stored. Wind, solar and nuclear energy lag well behind. Only a high and rising price for carbon can level the field. Requiring government action to enforce, this is subsidy by another name."
That is indeed exactly the point - we are now moving backwards in terms of technology and cost, and for what exactly? The last line is very prescient - the only way these policies can succeed is by pushing up the price of fossil fuels.
"Ms Rudd (the Climate Minister) is on shaky ground when she warns green technologies not to expect permanent subsidy. Decarbonising energy is the economic equivalent of pushing water uphill. Carbon-intense methods of driving a turbine or car may always outperform new technologies. Coal, oil and gas are widespread, densely packed with kilojoules and easily stored. Wind, solar and nuclear energy lag well behind. Only a high and rising price for carbon can level the field. Requiring government action to enforce, this is subsidy by another name."
That is indeed exactly the point - we are now moving backwards in terms of technology and cost, and for what exactly? The last line is very prescient - the only way these policies can succeed is by pushing up the price of fossil fuels.
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