A new analysis highlights how soaring energy costs and policies prioritizing renewables are contributing to Britain's economic stagnation and deindustrialization.
A new analysis highlights how soaring energy costs and policies prioritizing so-called renewables are contributing to Britain’s economic stagnation and deindustrialization. PULSE POINTS WHAT HAPPENED: Britain is on a “path to impoverishment” as soaring energy costs and declining consumption threaten to drive deindustrialization and economic stagnation, according to a new report from the Institute of Economic Affairs. Britain now has the highest industrial electricity prices in the developed world, while overall energy consumption has fallen 29.2 percent since its 2005 peak and industrial use has plunged 45.3 percent since 2004. DETAIL: The report found that Britain uses roughly half as much energy per person as the average…Open
Image: Remove the crude oil, and you do not merely dim the lights. You dismantle society! Related: Britain: Time To Go Back To Coal Can solar and wind + batteries really provide 24/7/365 electricity? Net [...]
It’s the third such deal the Interior Department has struck to pay firms to abandon plans for offshore turbines, spending roughly $2.5 billion to get companies to abandon their wind projects.
An industrial policy of subsidies and import restrictions laid the foundations for China to become almost as dominant in wind turbines as in solar panels.
The delays, which companies say have worsened significantly in recent weeks, are the latest step in the Trump administration’s efforts to block wind power.
Renewable energy is cheaper to run than fossil fuels, especially with war choking oil supply. But it hasn’t turned out that way for some European countries, and the reason is complex.
Among other things, the Energy Bills Relief Act would promote the development of wind and solar farms on public lands, bring back Biden's LNG policies, and reinstate renewable energy subsidies that were ousted with the One Big Beautiful Bill Act. More than half of House Democrats have signed on in support of the bill, despite polling that shows a decline in popularity of "green" energy.