Ontario’s Green Energy Act offered so-called “feed-in rates” almost four times existing electricity rates for wind and more than 10 times for solar power. Like bees to honey, wind and solar companies rushed in. By the time the government realized that these subsidies were driving Ontario from one of the lowest to one of the highest power cost jurisdictions in North America, the province had signed myriad 20-year-locked-in-rate-guaranteed contracts that will drive power rates up a further 40 per cent to 50 per cent in coming years. Adding salt to this self-inflicted wound is the reality that much of the green power comes on stream when it isn’t needed. This unneeded electricity is dumped into the United States at bargain-basement prices that Ontario’s Auditor-General found has already cost Ontario power consumers billions of dollars, with much bigger losses yet to come before those 20-year contracts expire.
Investors have reason to become bullish on the oil patch but one observer cautions that some companies may be adopting a dividend-paying structure simply to pump up their stock price.
It’s time to admit that energy stocks are terrible long-term investments
Given these disastrous results, one would think that Ms. Wynne and her cabinet colleagues would have carefully studied experience in other jurisdictions before implementing green policy two.
“Given these disastrous results, one would think that Ms. Wynne and her cabinet colleagues would have carefully studied experience in other jurisdictions before implementing green policy two.”
Bwhahaahahahahhaha. A narcisist and politician study something? The only thing they study is how to steal your money!
Wynne is trying to impress her Idol, Al Gore, who has gotten rich on a farce.
I am certainly no expert, however the protection afforded Canadian public utilities under NAFTA has a “magic” number of %50 public generated = immunity from continental grid pricing schemes. As California and others learned to their dismay, the “hidden hand” of the market was targeted on their wallets. Supply and pricing were gamed to fleece the dependent (everybody). Just as in Ontario, we in BC are being nudged toward that goal. It is my firm conclusion that what appears to be incompetence is in fact a well designed agenda to further plunder the many to benefit the very, very few. The public utilities we all love to bitch about have provided some of the most reliable, affordable power generation in the world. How is it looking to others paying attention?
I am certainly no expert, however the protection afforded Canadian public utilities under NAFTA has a “magic” number of %50 public generated = immunity from continental grid pricing schemes. As California and others learned to their dismay, the “hidden hand” of the market was targeted on their wallets. Supply and pricing were gamed to fleece the dependent (everybody). Just as in Ontario, we in BC are being nudged toward that goal. It is my firm conclusion that what appears to be incompetence is in fact a well designed agenda to further plunder the many to benefit the very, very few. The public utilities we all love to bitch about have provided some of the most reliable, affordable power generation in the world. How is it looking to others paying attention?
Thanks Hosers. We love cheap juice down below.
Lets harness Hot Air and put Al Gore and Greenpeace to good use
If they just said from the start that they were going to destroy the Province, would they do anything differently?
Here in BC Fortis charges about 0.13/KWH, all taxes in.
Now that Elon Musk is bring in home based power storage batteries for Solar and wind generation we will be able to drop off the grid. Just have to wait for enough taxpayer subsidization to afford the solar panels and windmills and oh yes the battery.
As I marvel at the overall level of incompetence in government and by those who really have nothing of value to contribute I continue to buy gold and gold stock.
It’s not like they were the first ones to try this.
Germany comes to mind: http://www.thenewamerican.com/tech/energy/item/20538-green-meltdown-solar-companies-are-germany-s-biggest-capital-destroyers
Also Spain: http://instituteforenergyresearch.org/analysis/spains-green-energy-experiment/
Why is it for all their love of public education, lefties can never learn!!!
True Frenchie, but the point isn’t to learn, the point is to control and eventually de-industrialize the west. (The stated goal of Maurice Strong who setup the whole blame CO2 thing)
Imagine the effect on society as energy becomes more scarce and enormously expensive, particularly in frigid winters and sizzling summers. People will die. The cost of moving goods will also skyrocket but don’t worry, the Government will make sure it and those who support it are taken care of first, and more people will die.
Greenies want to drastically reduce the world’s population. Energy is the lifeblood of modern civilization, reduce or remove it and civilization must suffer. Millions will die, starting with the poor nations and the poor in 1st world nations (hello SJW’s!!!).
To continue on this path will make the Green Reaper very busy in the next few decades.
We may be saved if the Greenies follow their ideology to reduce the world’s population and not reproduce themselves.
Maurice Strong is holed up in China where he can’t be seen due to smog pollution. He’s got to be very upset with with those who refused to sign KYOTO and send money to China to buy their air.
How far does this insane prog green utopiana have to go before voters wake up – does Wynn have to permanently turn Ont. into a rust belt before voters reject this incredulous thievery?
Any country stupid enough to turn engineering questions over to left-wing politicians deserves what it gets.
I love the argument that though Canada is an insignificant “emitter” we should nonetheless show “leadership.” Very well, let’s stock shipping coal to China. No? Oh, buy wind turbines from them? OK.
Morontario is going to live that liberal dream good and hard – and they deserve it too.
Yaknow, I woulda thunk you guys would have learned your lesson from McSquinty. But no, you actually found somebody WORSE to replace him! Who woulda thunk a sexually disturbed degenerate would know nothing about energy economics?
GAH!
Oh well, that leaves Alberta as the only province in this country that even has a hope of paying the bills…and we are gearing up to vote for DIPPERS.
About the only question I have is ‘who will feed the children in Quebec….?’
Don’t view Gwyn Morgan as a big hero here. He was one of the architects of the BC Carbon Tax.
Alterior motives anybody? He wouldn’t have an axe to grind, now would he?
He makes good points, but one has to wonder
The altruism of Maurice Strong could stand more scrutiny.
I first read about Maurice Strong when I heard about the Baca Aquifer – containing 3 billion acre feet of water, located under a 100,000 acre property in Colorado that Strong acquired. He attempted, unsuccessfully, to export the water. It’s unclear to me whether he still has the water rights.
Article here by John Izzard titled Discovering Maurice Strong http://quadrant.org.au/opinion/doomed-planet/2010/01/discovering-maurice-strong/
Long PDF article here (4 pages) gives greater details. I like the quote that says: The fox has been chosen to repair the henhouse. https://www.heartland.org/sites/all/modules/custom/heartland_migration/files/pdfs/7792.pdf
“Given these disastrous results, one would think that Ms. Wynne and her cabinet colleagues would have carefully studied experience in other jurisdictions before implementing green policy two.”
Yeah. You would think that, unless you finally came to accept that like the gun registry, the Ontario green policy is just another Liberal Party scam.
It doesn’t matter if it -works-. Because the point was to get the Province of Ontario to pay stupendous sums of money to companies for building all these windmills and solar panels. The principals of those companies have long since made their money and gotten out. Everybody who was “in” has got their money and got out, leaving the present sad sacks holding the bag.
Of COURSE it doesn’t work. Guys like me have been saying it won’t work since the idea first came up in the 1970’s. Everybody knows it won’t work. Except the morons in Toronto who voted for it, and of course the Connected Mandarins who got a ton of money out of it.
These people aren’t stupid. They’re THIEVES. They ripped us all off, and now they are laughing at us. And we all still think its about politics and Green energy. We can’t even hear the laughing.
Take your electricity bill over to the owner of the nearest “solar farm” and demand he pay the increased fees since his contract was signed by the government. After all , if all the consumers are paying for his solar arrays at exorbitant prices, he should have a few extra bucks for the locals; I.E. minor hockey teams that directly pay increased prices for ice time, pensioners living on fixed incomes, local school boards with school facilities to light and heat…..
You shouldn’t have to pay this much to be screwed over so badly.
Silliest ASSumption by the writer: “Ms. Wynne and her cabinet colleagues would have carefully studied experience in other jurisdictions… ”
These folks are on their own political/socialist agenda so it must be true.
God help us mere mortals… we are the architects of the demise of our own civilization.