July 15, 2019

Creating Scarcity At a Very High Price

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“The RET review by Dick Warburton on the government’s behalf has brought the rent-seekers out in force, for billions of dollars of corporate welfare is resting on its outcome.

As it stands, the RET will produce a bounteous return for a small group of investors shrewd enough to get into the windmill game while the rest of us are slapped with four-figure power bills.

Wind farms may be ugly but they are certainly not cheap, nor is the electricity that trickles from them. No one in their right minds would buy one if they had to sell power for $30 to $40 a megawatt hour, the going rate for conventional producers.

But since the retailers are forced to buy a proportion of renewable power, the windmill mafia can charge two to three times that price, a practice that in any other market would be known as price gouging.”<<<Read More>>>

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