'The greatest scam being perpetrated against taxpayers and consumers is renewable energy, according to a new analysis published by the Australian, greater even than Ponzi, Madoff and Enron.
While sinking enormous financial resources into propping up renewable energy prospectors, national governments are providing no perceptible benefits to their citizens, writes Judith Sloan, a renowned Australian economist who has served on the Australian government’s Productivity Commission.
“With very few exceptions, governments all over the world have fallen into the trap of paying renewable energy scammers on the basis that it is necessary, at least politically, to be seen to be doing something about climate change,” Sloan writes, before providing readers with an avalanche of economic data to back up her assertion.
In Australia, more than 2 billion taxpayer dollars a year are funneled to renewable energy handlers by virtue of the operation of the renewable energy target and the associated renewable energy certificates, Sloan observes.
At the same time, the Australian Renewable Energy Agency “shovels out hundreds of millions of dollars annually to subsidise renewable energy companies, many of which are overseas-owned,” she states, and the Clean Energy Finance Corporation was given $10 billion in equity by the Gillard Labor government “to lend or grant money to renewable energy companies.”'
Read more: Report: Renewable Energy Is Bigger ‘Scam’ than Bernie Madoff and Enron
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