There is an excellent example of what happens to a country when it embraces a green energy economy. It’s the Spanish Strategy on Climate Change & Clean Energy.

Post Franco Spain adopted a Prime Minister leadership model beginning in 1982. Under the Spanish Socialist Workers Party, know by its Spanish acronym, PSOE, heavy industry was cautiously nationalized. Finding success with liberalization of the marketplace and in a quest for economic benchmarks needed to qualify for European Economic Union membership, that process sped up under Prime Minister José María Aznar who served from 1996 to 2004 and Spain’s economy prospered.

A terrorist bomb attack propelled the PSOE party under José Luis Rodríguez Zapatero to a surprise victory in 2004. His administration enjoyed four years of economic strength initiated under Anzar while simultaneously plunging Spain into a green energy economy experiment.

Aggressive renewable portfolio standards included wind, solar and biofuels were set. Foreign investors from the United States, United Kingdom, France and Germany jumped on the opportunities.

The plan saw 2.2 people lose their job for each new job created. Wind & solar proved less efficient so utility rates climbed 92%. The government forced utilities to pay the higher rates for renewables and guarantee lower rates to customers. Service failures became common and many lost service through non-payment. The government had to subsidize the bankrupt utilities. The national debt became unmanageable. Financing schemes couldn’t cope with economic reality. Unemployment peaked at 27% in 2012. Youth unemployment hit 50%.

A D V E R T I S E M E N T

A D V E R T I S E M E N T

Spain quickly abandoned the experiment in 2013, but the damage is still mostly with her. Aznar’s hand-picked successor, Mariano Rajoy was elected PM in 2012. He found It hard to get the deep state off the renewables gravy train. Spain is currently pursuing nuclear power with foreign investors once again lining up to provide them financing. Unemployment is stuck near 20%. Spain provides the perfect model for any country looking to destroy itself in the blind pursuit of “green ideology”.

Image courtesy European People's Party - EPP Summit 4 December 2003 Paris


--Tom Hammer

Post Date: 2021-02-22 16:17:33

Last Update: 2021-02-22 16:46:55