Bankers Pull the Plug on Scottish Wind

It seems that the banking fraternity are beginning to get a little worried about sticking their snouts in the Scottish wind turbine trough.
(See Windpower Monthly article Here)

Up until now it has been easy money for both the bankers and their wind turbine operator clients. They have been backed by all political parties, with politicians fawning at their feet.

The media has fallen over themselves (especially the BBC) to promote and propagandise on their behalf.

Anyone standing against them has been villified and despised but more usually, just ignored.

But now something is stirring. Something unpleasantly related the truth about how much this joke technology is costing us and how ineffective it is.

Honourable and informed organisations like the John Muir Trust, and the Renewable Energy Foundation, as well as highly regarded engineers are diligently questioning the current madness.
(See This Post)

If (and when) the sh*t hits the fan, the last thing the greedy bankers want on the balance sheet is a large quantity of ineffective wind turbines that no-one is subsidising any more.

The first line on that balance sheet concerns Scotland.

Now if dear old Alec Salmond gets his way and Scotland goes independent then Scotland is going to have to pay the onerous ROC subsidy. This subsidy for off-shore turbines triples the final cost of the electricity generated. On-shore is slightly less eye wateringly expensive, merely doubling the cost.

However, this potential £4bn outlay leaves Alac Salmond unphased. The master plan is to get the despised English to pay or (I quote from the above link) "then there would be a severe danger of the lights going off in England"

Oh dear, Oh Dear.

Alec Salmond obviously places a great deal of  faith in the English sticking to the ludicrous "renewables" targets that have been stupidly set by the last UK government.

But of course, there won't be a UK government if Scotland goes independent.

As the UK is doing very well towards meeting its Kyoto CO2 reduction targets (much better than either Germany or Denmark) I would find it hardly surprising if this bit of UK governmental "renewable obligation" stupidity were to be quietly swept under the carpet and forgotten about.

Now tie that in to the enormous gas field found under Lanacashire and the fact we have 85 years worth of nuclear fuel stockpiled.

We can, using both the new gas and nuclear, replace coal completely. This would cut our carbon emissions massively more than could ever be achieved by wind turbines. (That is, of course, assuming wind turbines actually ever manage to cut carbon emissions in the first place).

The "renewables" feeding frenzy becomes a busted flush.

Whatever you think about the greedy bankers, one thing you can be sure of is that they will protect their bottom line. They are not going to indulge in any dreamworld, English hating Nirvana that could in all likely-hood prevent them getting their massive bonuses.

Bankers are greedy, averacious, cowardly and uncaring.

But they are not stupid.

Redcar and the Barnett formula

In my last post I described some good news (at last) for the North East of England as the Redcar Steel works re-opened. I also mentioned how the region has been so badly treated by successive governments.

The North East of England is, obviously, part of England. No surprises there. Consequently, like the rest of England the North East pays substantially into the Barnett formula. The Barnett formula provides a huge subsidy to Scotland. It was a stop gap quick fix for a long past Scottish funding problem that was supposed to last a year. While the funding issue may be long gone the Barnett formula is still with us 20 years later.

Nobody in government has the balls to cancel it.

Each person in Scotland get an extra £1200 a year spent on them compared to their English counterparts (i.e. like the good folk of the North East). This amounts to no less than a 11p in the pound tax break for the Scots. (See Yorkshire Post here)

In a time of national penury, if anyone should get such a tax break, surely it should be North East England rather than the whole Scottish nation.

Much of Scotland is wealthy - very wealthy. It is not right that poorer parts of the UK end up losing their services and opportunities simply to subsidise and placate the ever greedy Alex Salmond and the Scottish Parliament.


The Barnett formula is intrinsically unfair.

Ask yourself this:

Should poor (or even well-off) English working people be paying extra to support the likes of like Sir Fred Goodwin (Scottish resident). Should English tax payers support Scotland so it can offer free student education to not only Scottish students but other European students as well? While English students wanting to study in Scotland have to pay the full whack?

Scotland has plenty of resources. Even if Scotland wants to remain part of the Union then the Barnett formula should be abolished or at least modified so that subsidy is given on basis of need not national boundary. But if Scotland wants out of the union, well, by all means, in that case the Scots should spend their taxes however they want.

If the Scots want independence then it is their right to pursue it. Trying to buy them off with this dirty little Danegeld called the Barnett Formula is as repulsive as it is unfair.

But if that is how it is going to be, then what is good for the Goose is good for the Gander. Please do not expect my taxes to subsidise Scottish largesse or anything else for that matter.

English taxes are desperately needed elsewhere - like bringing jobs to Yorkshire and the North East

English Railways and English Taxes

It was enchanting to hear that our Scottish cousins, particularly those in the SNP are keen to get a high speed rail link extended into Scotland. (See BBC Article Here)

Evidently such a link would reduce the journey time between London and Edinburgh to three hours. Although, to me, this seems rather counter-intuitive. Why would Scottish Nationalists wish to be closer to London?

But never mind.

One day soon, as many Scots desire, Scotland may become an independent country.

Maybe then the non country of England will also get its own parliament. Strange as it may seem, this English parliament would be primarily concerned with English issues. Including English infrastructure projects and English taxes.

Of course the Scottish parliament would in turn be responsible for Scottish infrastructure projects and Scottish taxes.

Anyway should this all happen, I hope that tradition will dictate that we, the grubby despised Little Englanders will extend the hand of friendship and camaraderie to our noble Scottish cousins.

Yes! We will help build the rail link all the way up to Edinburgh.

Immediately after the cheque has cleared.