Huge new recent discoveries in gas, oil and rare mineral deposits see major investors and governments bail out of a collapsing green energy market.
European Governments Signal End to Renewable Energy ‘Bubble’
Peiser shows the rush away from green energy began in earnest in December 2010 when first a pro-green Spain slashed funding for wind projects by 35% and declared photovoltaic plants would be cut by 45%.
France then announced a four-month freeze on all solar projects. Then Germany announced it might discontinue the solar industry’s sweetheart tariffs in 2012. The German Energy Agency, the country’s official advisor on renewables called for Germany’s drive toward solar to be “cut back quickly and drastically.”