Remember when President Obama said we should be more like Spain?
Bloomberg (1/14/22) reports: "Spain’s economy minister warned that soaring energy costs could hit company competitiveness and hurt households as she reiterated calls for bolder European Union action to curb a price surge that shows no signs of abating. Nadia Calvino, who is also deputy prime minister, said that costly tax breaks to contain energy bills are 'not a long term solution.' EU institutions should tackle wholesale prices directly to confront malfunctioning power markets, she added, highlighting that Spain is also pushing for centralized gas purchases...The energy squeeze is threatening Europe’s post-pandemic recovery as the once-in-a-generation hit to living costs it has inflicted, sending inflation to the highest since the creation of the euro, makes consumers less inclined to spend. Wholesale gas prices are up almost 300% in the past year."
|
|
|
|
|
|
"It’s easy for politicians and climate activists to vilify hydrocarbons, hype renewables, and talk about quitting coal. But as the Rhodium Group’s report makes clear, economics matter. The U.S. and other countries aren’t going to suddenly quit using coal (or natural gas) to produce electricity because doing so would be too expensive."
– Robert Bryce,
Power Hungry Podcast
|
|
|
|
|
|
