Here’s the BBC’s Richard Black at his best, positively beside himself with glee because China is now wasting more money on “renewables” than that nasty place of over-production and excess, the USA. His tone throughout is one of adulation for what China (and Britain – alarmingly for us now in third place) have achieved in tipping money down the drain. Note, too, that there is no mention in his report of the most crucial factor, namely that Spain’s policy over eight years of busting a gut to invest in green projects was a national disaster. A survey – the most detailed of its kind – by Spanish academics found:
Optimistically treating European Commission partially funded data, we find that for every renewable energy job that the State manages to finance, Spain’s experience cited by President Obama as a model reveals with high confidence, by two different methods, that the US should expect a loss of at least 2.2 jobs on average, or about nine jobs lost for every four created, to which we have to add those jobs that non-subsidized investments with the same resources would have created.