Mark Perry at Carpe Diem reports that the Dutch have given up subsidizing windfarms just as the German's have given up subsidizing solar power.
To paraphrase Paul Gigot of the Wall Street Journal, "Solar (wind) energy is produced by mixing sunshine (wind) with our tax dollars." And the Germans, like the Dutch, are finding out that you eventually run out of other people's money (tax dollars) to fund alternative energy sources that are not justified by science or economics. As Margaret Thatcher taught us, that's always the problem with socialism - running out of other people's money...
This combines two of my favorite themes:
- subsidies destroy wealth;
- it is always easier to spend other peoples' money