AUSTRALIA: PM ABBOTT CANCELS GOVERNMENT WIND FARM SUBUSIDIES

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Australia has slammed the door shut on any new government-funded investment in renewable energy schemes as Prime Minister Tony Abbott extends his “war on wind power”.

In doing so Mr Abbott has sent a clear message to the mendicant green renewable energy sector that there will be no more cheap state-supplied financing for its projects.

 

Fairfax Media reports Mr Abbott’s conservative coalition government has ordered the taxpayer-funded $10 billion Clean Energy Finance Corporation (CEFC) to immediately cease any new investments in wind power projects. Treasurer Joe Hockey and Finance Minister Mathias Cormann issued the so-called green bank with a directive to change its investment strategy.

The funding ban is just the latest salvo in the government’s attacks on the renewable energy sector which also includes small-scale solar projects.

Mr Hockey started the Abbott government’s campaign against wind farms in 2014 when he told Sydney radio host Alan Jones he found the massive turbines “utterly offensive”. Prime Minister Abbott reignited the debate last month, telling Jones he finds turbines “visually awful”. He said he wanted to reduce the growth rate of the sector as much as possible. Continue reading here….. (Notice the comment section below the article. The majority of comments are highly supportive of Abbotts decision — DQ)

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