Walter Russell Mead notes:
On Monday, Germany announced that it is about to be hit by a huge hike in electricity prices. Under the new rates, German consumers can expect to pay nearly $26 billion in surcharges on their electric bills next year in order to promote renewable energy. The program wasn’t supposed to increase costs for the average consumer, but now green energy surcharges have gone up by fifty percent. Yet even after pocketing huge sums from consumers, Germany is still struggling to develop a renewable energy sector that can stand on its own two feet.He goes on to quote from a Der Spiegel article which reports that much of the funding for "green energy" initiatives is being wasted. Instead of spending money on renovating buildings to be more energy efficient--which actually works--Germany is spending the money on inefficient and unreliable energy sources such as solar energy and wind power.
Meanwhile, people like Al Gore are laughing all the way to the bank.