Throwing away bucket loads of our money

The table pictured above is from a paper entitled Green Protectionism in the European Union: How Europe’s Biofuels Policy and the Renewable Energy Directive Violate WTO Commitments (pdf). It shows the incredible amount of subsidies (‘assistance’) given by our governments to producers of supposedly ‘green’ energy alternatives like ethanol and biodiesel. Especially ethanol production receives 2.5 times the invested sum of money in tax payers money across Europe. Nice work, if you can get it…

The conclusion is not very difficult:

This structure of support and protection is not economically sustainable. It is rather close to economic madness to pursue the sort of self-sufficiency or industrial policy ambitions that have guided EU policy towards biofuels. The total cost of every unit of biofuel becomes far too high, which slows down the readiness to shift away from fossil fuels.

But then, that’s the overall plan, isn’t it? Making us poorer to subsidize India and China. Economic suicide, indeed.

(h/t Dagelijkse Standaard)

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