German leaders seem to have a habit of driving their country into a wall.
This time it’s their desire to show environmental supremacy. Many really do believe they are powerful enough to control the climate and at the same time defy the laws of economics.
The European Institute For Climate And Energy (EIKE) has a piece written by Dr. Dietmar Ufer about an interview with economics professor Joachim Weimann on MDR public television.
Here’s the text of the interview:
MDR (0:08): With respect to the current price spiral for energy, is it the right approach?
Weimann: We’ve decided on an energy transition, and on a type of energy transition that is very very expensive. That means energy is going to be very expensive. It’s going to hit the poor very hard. That was to be expected- It was completel clear. That was easily predictable. It is indeed only the start of the price spiral. We have only begun to switch off the nuclear power plants and to start using renewable energy. It’s going to be very expensive.
MDR (0:57): You believe it’s going to impact a large spectrum of citizens.
Weimann: It has to be clear that the supply of energy that we want, one that is without nuclear energy, preferably without fossil fuel and mostly from renewable energy, is an extremely expensive way of producing energy and to save CO2
MDR (1:32): Are there alternatives available that could have avoided these extreme prices?
Weimann: Of course there are alternatives. Economists have been warning for years that subsidizing renewable energies just as we are doing is a bottomless pit that will have minimal effect. Just look at the fact that just for solar energy we have invested 100 billion euros without this technology having made any notable contribution to climate protection. This is going to cost everyone, especially gthe poor and also the working class – many are going to suffer immensely.
At the 2:24 mark, the Youtube clip then looks at veteran journalist Günter Ederer who 4 months ago in April warned of the exploding cost consequences of Germany’s shock energy transition. The pain is just beginning.