The Green New Deal isn’t new. It was tried in Ontario and was a colossal political failure for the politicians who imposed it. It’s a case of Green Deja Vu.
The Liberal Party of Ontario passed the Green Energy Act (GEA) in 2009, a limited version of the American Democrat’s Green New Deal. Energy prices, bankruptcies, taxes and debt exploded.
The debt of Ontario Province in Canada is now CAD $323.9 billion+, larger than 146 countries. Every Ontarian is saddled by a CAD debt $22,500+ and climbing. Not all of the debt burden is energy related. Fifteen years starting in 2003 of Liberal rule were marked by large yearly deficits, bookkeeping chicanery, blunders and scandal. But Ontario Auditor General pins the costs of going green at $170 billion over 30 years. The Ontario Debt Clock keeps on ticking.
The promises made to get GEA passed are familiar:
- Ontario has set high aims and high goals and does want to be a North American leader in the area of renewable technology … we anticipate in the first three years approximately 50,000 jobs will be created.
- The Green Energy Act would help to create jobs in a wide range of areas … as well as at least $5 billion of investment in infrastructure and expenditures.
- The Liberals gave substantial evidence that the cost of electricity would only raise one percentage point per annum.
- The GEA is a movement; it has checks, balances and has been carefully thought out.
- The head of Environmental Defence Canada, Dr. Rick Smith, asked whether this would lead to higher prices; “No. Not at all. Ontarians won’t even notice any impact on their electricity rates.”
The political Opposition grossly underestimated the looming disaster, saying that rates would increase a catastrophic 15%. Not even close. The off-peak and on-peak electricity rates were 4.2 & 9.1 cents per kilowatt hour in 2009 and doubled to 8.7 & 18.0 in 2016. As for job creation; “mostly short-term subsidized jobs for workers installing wind turbines and solar panels … while the few jobs that have been created are mostly temporary, the high prices it foisted on consumers are permanent.”
The Liberals were massacred in the June 2018 election, losing 51 of 58 seats. With only 7 seats they did not qualify for official legislative status, are restricted in speaking in the legislature and get no funding. In December 2018 the Green Energy Repeal Act was passed, but the cost of the folly is crushing debt for decades in Ontario. Price increases are baked in for years to come.
This post appeared first on Natural Gas Now.