
German coal operation
H/T
The Global Warming Policy Forum (GWPF)
Government attempts to interfere in power generation markets can and do have unintended consequences, including undermining their own intentions. The expert interviewed here says ‘eight times as many wind and solar power plants as today’ would be needed in Germany by 2050, to meet policy targets. Many of the obstacles that lie in the way also apply to other countries that want to pursue the ‘CO2 controls climate’ delusion.
German economist Johannes Bachmann explains the so-called ‘Green Paradox’ — when unilateral climate policies accelerate the worldwide extraction of fossil fuels and global CO2 emissions.
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Yesterday, 20 September, the so-called “Climate Cabinet” of Germany’s federal government met to set the course of German climate policy for the coming years. Christoph Kramer spoke with Johannes Bachmann about the so-called Green Paradox and the economic concepts that fuel it.
Dr Bachmann is an economist and a member of the Hayek Society. Two years ago he received his doctorate from Michael Bräuninger, a Hamburg economist and former research director of the Hamburg Institute of International Economics (HWWI). In his dissertation Bachmann dealt with the effect of climate policy measures on CO2 emissions.
Christoph Kramer: Mr. Bachmann, if one looks into your dissertation as a layman it’s all Greek to me. Could you please briefly explain exactly what the thesis is about and what methodology you used?
Johannes Bachmann: I can well understand that. On the one hand, there are quite a few technical terms in the work, and on the other, there are many formulas. It is a typical dissertation: a work by an academic for academics.
The aim of the thesis was to examine the effects of climate policy measures on the supply side of fossil fuels. To this end, I calculated how owners of raw materials adjust their production quotas as a result of CO2 taxes or subsidies for renewable energies in order to continue generating as much revenue as possible. Why did I focus on the supply side of all things? The answer is: the quantity of fossil fuels that is extracted from the earth is also consumed.
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