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Daniel Lacalle
@dlacalle_IA
, 7 tweets, 3 min read Read on Twitter
German consumers have not seen any benefit from lower wholesale power prices as renewable surcharges and higher taxes have offset all the benefits of higher competition.
The massive subsidies of the Energiewende green plan have not improved CO2 emissions (Germany will likely miss its own 2020 target) and cost up to €500 billion so far.

energsustainsoc.biomedcentral.com/articles/10.11…
A new "green energy plan" of €100 billion in the eurozone runs the risk of making the same mistakes of the Energiewende. Enormous cost for little results.

spiegel.de/international/…
In the European Union, SMEs pay 20% more for electricity than in China and 65% more than in India. Between 2005 and 2012 electricity prices in Europe rose 38%, while in the United States they fell 4%.

The EU must adopt a competitive energy transition.

dlacalle.com/en/why-europes…
The EU has shown how negative a "New Green Deal" is when it ignores competition and market signals.

mises.org/wire/europe-tr…
Repeating the mistakes of the past is not going to revert the European stagnation process...
The EU carbon tax scheme has not worked as an incentive to reduce emissions. In fact, the massive recent increase in CO2 allowance prices has made electricity prices soar for households and perpetuated obsolete sectors, while CO2 emissions rose.
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More from @dlacalle_IA see all

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Daniel Lacalle
@dlacalle_IA
The drone attack on Saudi Arabia has an important impact on the country's oil infrastructure, but we should not exaggerate its impact on world supply

Open thread #OOTT #SaudiArabia #DroneAttacks
1) Saudi Arabia is the OPEC country with the largest spare capacity. Although the drone attack impacts 5% of global supply, it also comes at a time when supply glut was evident, global inventories are large and substitution is relatively easy.
2) The IEA estimates the ‘call on OPEC’ at 28.3 mbd in 1H20. This is a downward revision of 0.2 mb/d compared to its previous forest and a substantial 1.4 mb/d below OPEC’s August output.
Read 9 tweets
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Daniel Lacalle
@dlacalle_IA
The ECB is creating a dangerous bubble and should not cut rates.

bbntimes.com/en/global-econ…

Open thread @threadreaderapp :
@threadreaderapp 1) Eurozone states are already financing themselves at negative rates. There is no need for lower rates and this disguises real risk.

This has saved governments more than 1 trillion euro in interest expenses (handelsblatt.com/today/finance/…)
@threadreaderapp 2) The ECB has not abandoned its stimulus. It repurchases all maturities, launched a liquidity injection (TLTRO) in March 2019 and balance sheet stands at almost 40% of eurozone GDP.
Read 11 tweets
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Daniel Lacalle
@dlacalle_IA
President Trump orders US manufacturers to move from China. What may have happened? Open thread: cnbc.com/2019/08/23/us-…
1) US concerns that initiatives to advance on intellectual property rights may have never started.

The US claims losses of $600 billion from intelectual property theft in China.

usitc.gov/publications/3…
2) Ongoing stealth devaluation and tighter internal capital controls
Read 6 tweets

Related threads

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Mike Shellenberger
@ShellenbergerMD
Democratic candidates stress need for solar & wind but those industries are in crisis because

- inherent unreliability & need for back-up
- 400-750x more land
- threat to endangered species

which block growth & make electricity expensive.

Please share!

forbes.com/sites/michaels…
In Germany, the world leader in renewables, just 35 wind turbines were installed this year. The country needs to install 1,400 per year to meet its climate change targets.

welt.de/wirtschaft/art…
The halting of wind deployment in Germany has resulted in the industry shedding 25,000 jobs. And it’s not clear Germany can handle more wind.

Its grid operator increasingly has to cut off electricity from industrial wind farms on windy, low-demand days, to avoid blow-outs.
Read 13 tweets
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Trippaddystudy
@TripPaddyStudy
#German Student Visa Interview Questions, Answers and Tips:

We can’t certainly conclude on the specific questions to be asked of the next German student #visa applicant,

Here are commonly asked questions to prepare for.

#TPStudyAbroad #StudyAbroad #Thread
These following questions matters:

1) Decision on why study in Germany.
2) Knowledge about Germany.
3) Information about future studies in Germany.
4) Current academic and work experience.
5) Blocked account and future financial status.
6) Common information about the study field.
7) Accommodation arrangement in Germany
8) Relationships with people living in Germany or #Europe maybe.
9) What you plan to do during Holidays and semester-break.
10) Your Plans of the future.
Read 14 tweets
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Tennant Reed
@TennantReed
Yesterday I attended a briefing to energy users by @alintaenergy boss Jeff Dimery, who said many interesting things, digested in this thread withminimal comment!
Closure of Northern: regrets, but Alinta wasn’t prepared to underwrite the SA market. Tried to delay with cost+ offers but a large user rejected in belief they could do better by taking spot prices (closure sent spot way up). Also knocked back on $8m request to then SA gov
Northern closed early because solar was hollowing out the daytime market; old coal plant couldn’t flex to capture higher price times without damage, but couldn’t wear losses from staying on when prices were low. Expects similar dynamics for other old plants.
Read 15 tweets
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Christopher Newfield
@cnewf
@chronicle has published another piece arguing that #highered is out of touch with regular Americans and disliked by them. It stages the eternal battle between a dynamic society and backward educators. The conclusion is always the same: colleges must "change how they do business"
The frame is compiled from Republican talking points, particularly that college means liberal brainwashing. bit.ly/2tyh31u
@karinfischer puts this out there as though it were a common opinion, not a refutable falsehood (start w @AaronRHanlon bit.ly/2SeAINK) /2
The culture wars discussion goes on for a long time, hitting themes we've heard since the 1980s. They are all about how #highered has been bad--has failed the reasonable expectations of the economy and society. Us must repent and conform to the surrounding society. /3
Read 15 tweets
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Michael Andersen
@andersem
Happy Valentine's Day!

I am celebrating with the following thread about the craziest & maybe most important thing going on right now on my favorite subject: PARKING

Seriously we're on the cusp of a potentially earth-shaking federal policy shift.

BUT

it needs your help
Here's the full scoop (and I think this is indeed the first coverage of this particular angle): sightline.org/2019/02/14/bel…

The headline is accurate.
Here's what happened:

When they were pulling all-nighters to get the Trump/Ryan tax reform passed, scouring the tax code for things to put taxes on so they could lower the overall corporate tax rate, GOP legislative aides found a line item worth $1.6 billion: "commuter benefits"
Read 19 tweets
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(((Alex Gilbert)))
@gilbeaq
1. The recenty claim by @ShellenbergerMD that wind and solar increase electricity prices is misleading and incomplete, if not outright incorrect. His analysis emphasizes correlation over causation, confuses past studies with future expectations, and is limited to 1 type of price
2. The two piece’s I’m critiquing here: forbes.com/sites/michaels…

and here: forbes.com/sites/michaels…
3. As I understand it, the @ShellenbergerMD hypothesis is that adding solar and wind power increases electricity prices because of an unspecified mix of intermittency, more expensive transmission costs, and other physically-caused increased system costs
Read 25 tweets

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