Spain halts renewable subsidies to curb $31 billion of debts
Spain halted subsidies for renewable energy projects to help curb its budget deficit and rein in power-system borrowings backed by the state that reached 24 billion euros ($31 billion) at the end of 2011.
January 27, 2012 by Ben Sills in Bloomberg News
Spain halted subsidies for renewable energy projects to help curb its budget deficit and rein in power-system borrowings backed by the state that reached 24 billion euros ($31 billion) at the end of 2011.
"What is today an energy problem could become a financial problem," Industry Minister Jose Manuel Soria said in Madrid. The government passed a decree today stopping subsidies for new wind, solar, co-generation or waste incineration plants.
The system's debts were racked up as revenue from state- controlled prices failed to cover the cost of delivering power. Costs have swollen in the past five years because of an increase... [continue via Web link]
5 comments:
Well, Spain had already cut 30% of its subsidies when the US was so kind to bail them out and buy wind turbines from them. "Hey buddy, pssst. Wanna buy some whirly gigs?". Do the math. We bailed out Spain and they lost even more money. Who's going to bail us out? No one. China only holds about one Trillion of our debt. Our own "Federal Reserve" which is just a Central bank, holds over $5 TRILLION , the rest taken up by oil rich countries. It always comes to the same summary. Those who stole all the money lend it to themselves and charge both principal and interest they owe to the very people they "borrow" the money from. Central Banks are the problem, not the debt.Then again, you really have to understand how it works with "derivatives, naked trading, and write offs". The same things that caused the big depression are just as global now as they were then. With a few families looking to control everything.What is now called the "One Percenters" . It's not 2%. Ancient Greek philosophy calculated that a civilisation collapses when less than 2% of the population controls the wealth.We're there folks, and this is all just a drowning society gasping for air. It takes more than optimism to survive sometimes. It takes serious action. Stop this nonsense now and demand Cuomo and Mr Lip Service Schneiderman to stop it now. Check out his latest position.
In the Cape, the wind leaseholders are %4.
Yeah...4% Brains too!
Same shit different person. Since it floats down hill it's going to end up in your face.
Now, in light of all that, why do we sit around and debate and mitigate?
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