Green energy generates big costs for little gain
Australian Financial Review
21 June 2015
Reports of the death of coal are greatly exaggerated. For green power is still very costly and uncompetitive, and likely to remain so despite all the subsidies.
In this newspaper last week Richard Denniss opined that there was a stampede of investment money out of coal (“Abbott blind to coal decline“, AFR, June 15). He excoriated Tony Abbott both for failing to recognise the death of coal and for suggesting that wind farms, their preferred replacement, are a blight on the landscape.
With exquisite timing, Market Forces, an affiliate of Friends of the Earth, then issued a report that, contrary to the Richard Denniss view, lambasted Australian banks for actually lending $6 in fossil fuel projects for every $1…
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