Fracking right
Via Hot Air
Germany began what they hoped would be a magnificent transition away from fossil-fuel based energy sources a few years ago, but after their decision to simultaneously retire their nuclear energy plants, hugely subsidize wind and solar energy, and decline to further frack their own natural-gas reserves, they have little to show for it besides an unmitigated disaster of skyrocketing energy prices and a revival of coal-powered energy plants. On top of the $32 billion in the form of government subsidies that Germany is expected to spend in 2014 alone, the country recently got into trouble with the European Union for handing out tax breaks to companies in energy-intensive industries. Germany is worried that, if they don’t give these companies a big break on high energy prices, they’ll close up shop and move to more competitive pastures — like the United States, which is flush with shale-led energy abundance and cheaper natural gas prices.
If Germany is so worried about losing their competitive edge, however, there’s a very easy alternative to both coal-fired power plants and untoward tax breaks staring them smack in the face. Reuters gets it