Lessons from Europe's Energy Nightmare
November 11, 2013
Europe's green energy dream has become a green energy nightmare to some, as renewable energy subsidies have driven up power prices for households and businesses, says the Daily Caller.
U.S. energy policy analysts are warning lawmakers that this nightmare could become a reality in the United States as well if states and the federal government continue pushing ahead with an aggressive green agenda.
- The European Union is attempting to generate 20 percent of its power from renewable sources by 2020 in an effort to stem global warming. However, the plan is coming with a high cost and doing little to fight global warming.
- According to Eurostat, electricity prices have risen about 20 percent in Europe since 2008.
- Top EU businesses leaders are calling for an end to renewable energy subsidies for raising power costs and increasing the risk of continent-wide blackouts.
President Obama once touted countries like Germany and Spain as world leaders in green energy, saying "they're making real investments in renewable energy" and "surging ahead of us, poised to take the lead in these new industries." However, Germany and Spain have been forced to backtrack their green agendas in the face of skyrocketing energy costs and looming blackouts.
Source: Michael Bastasch, "Europe's Green Energy Nightmare Could Haunt the U.S.," Daily Caller, October 22, 2013.
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