Wednesday, July 17, 2013

More Euro Enviros on the run: The Spanish Version

This is starting to get many wise, progressive, enlightened European countries struggling with their commitment to the Green sad...except, giant stacks of not.  Now Spain -- a country Obama lauded early in his first term as an exemplar of green initiatives and a model the US should try to emulate -- is finally starting to think with its brain:
Spain is the latest European country to regret its foray into green energy production. On Friday the Spanish government announced some contentious reforms to its regime of green energy subsidies, which were among the most generous in Europe. Those subsidies (in the form of guaranteed above-market rates for producers) have been wildly successful at encouraging solar and wind farm construction. They have utterly failed, though, to help build profitable industries. Now the Spanish central government is dealing with a residual tariff deficit of €4.5 billion for this year alone.
Read the entire Via Meadia post here.