With President Obama committing the nation's energy policy to follow along the pathway to "green" and "sustainable" energy sources, it would have been wise, in The Motley Monk's opinion, had President and his staff looked first to the experience of other nations that have committed themselves to the same pathway and told the American people what to expect.
Take Germany, for example.
Under Chancellor Angela Merkel's administration, the "green" and "sustainable" pathway--which currently requires that 23% of Germany's power come mainly from solar and wind sources by 2020--has increased residential power bills by 200% of what it costs the utilities to deliver the electricity, according to Bloomberg/Business Week.
Yes, that's correct: The German government's taxes and surcharges to subsidize the "green" plan inflate the price of electricity to residential consumers.
The story sounds vaguely similar to the "sticker shock" U.S. healthcare consumers are realizing today with the rollout of Obamacare, doesn't it?
What's truly astounding is that the German Chancellor announced during her recent re-election campaign that she would change Germany's renewable-energy law so that at least 35% of the nation's power would come from mainly solar and wind by 2020. That's a whopping 52.2% increase that will cost the German people $750B!
Sadly, the sheeple believe the politicians until they're left paying the Piper.
Let the discussion begin....
To read the Bloomberg/Business Week article, click on the following link:
"German Power-Price Swings Threaten Growth Engine: Energy Markets."