Thursday, 4 August 2016

UK GOVERNMENT'S HOPELESS FORECAST (GUESS) AT THE FUTURE COST OF FOSSIL FUELS AND WHY HINKLEY NUCLEAR IS FAR TOO EXPENSIVE

This article by Matt Ridley contains so many important statistics that it is a must for anyone interested in the subject of renewable energy and the so-called 'cost' of carbon. For example  "In 2012 DECC forecast three scenarios for fossil fuel prices. In the “high” scenario, the oil price, per barrel, in 2016 was expected to be $137.2; in the medium scenario, $119.2 and in the “low” scenario, $98.8. The price today is $43". 

Our new PM, Theresa May is quite right to take a second look at the figures for the proposed new nuclear power plant at Hinkley. The article clearly shows that it is too expensive and the electricity it would produce would cost too much. Our government's obsession with reducing CO2 emissions is the root cause of the massive cost we are all having to bear.

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