Germany's Giant Green Reversal

The theater of the absurd is not only in production on the banks of the Potomac, but also in Berlin.  Last spring the German Government made a monumental declaration with all the pomp and circumstance included: the country would phase out all its nuclear plants by 2022, shuttering 7 immediately in the wake of the Fukushima disaster and phasing out the rest of their 10 remaining plants as quickly as possible over the next ten years. It took only 3 months for reality to rear its ugly head.  Per Der Spiegel: Germany's energy agency is warning that one of the German reactors mothballed in the wake of Fukushima may have to be restarted to make up for possible power shortages this winter and next.  Berlin is also using money earmarked for future energy efficiency to subsidize coal-fired plants. With concern rising that solar and wind power might not be sufficient on cold winter days, one of the older reactors will likely have to be switched back on. Merkel and her government...(Read Full Post)