Governments, investors and even the World Bank are rushing for the exits in the Great Escape from the green energy bubble.
Solar energy appears to be the worst affected sector so far. Dow Jones reports on a startling U-turn by Britain’s ultra-green government has caught investors off guard and shock waves across the markets will likely precipitate the further rush from green energy projects to shale gas.
The UK’s Department of Energy and Climate Change made the shock announcement as it revealed a comprehensive review of its Feed-in Tariff (FIT) program. Indications from data provider, Prequin are that over $1bn in earmarked funds may be lost as Britain now promises it will only hold tariffs until April 2012.
The article is by John O’Sullivan. Do go and read the whole post.
Please, please let it be true.
ReplyDeleteUnfortunately the UK government wasn't smart enough to talk green but invest nuclear.
ReplyDeleteHuhne will continue to build windmills and our so-called Government will continue to piss billions of pounds up against the wall of reality, no matter what the reality is.
ReplyDeleteWhy?
Who knows!
w/v=eletrinc!!
Think they're starting to realise they invested in the Emperor Textile Company's clever new clothing range. Game's just about up.
ReplyDeleteThorium reactors would be nice..the Chinese are already working on them, and Britain is sitting on loads of the stuff.
ReplyDeleteThey'll be no change in the UK's energy policy whilst that incompetent Huhne is in charge. Only when the lights start going out, will something be done.
ReplyDelete