Europe is spending billions of tax dollars to delay global warming by less than two days because they’re “too proud” to stop subsidizing a non-competitive industry, Danish environmentalist Bjorn Lomborg said Saturday.
“We’re certainly paying a very large amount of money to have the bragging rights for Germany having the most solar and Denmark having the most wind,” Lomborg told Fox News’ John Stossel. “The Germans are paying about $110 billion on subsidies for these solar panels. The net effect for all of those investments will be to postpone global warming by 37 hours by the end of the century.”
Lomborg, a left-leaning environmentalist and author of “The Skeptical Environmentalist,” said the threat of global warming is real, but Europe isn’t addressing it the right way.
“Global warming is real and it is something we need to fix, but we should fix it smartly, and not in a very costly way as we have been doing.”
Europe is “curbing” their investments but still pouring money into green tech, he said. “They’re way too proud of their solar,” Lomborg said.
The renewable energy industry isn’t the right way to create jobs, either. Each subsidized “green job” in solar or wind is costing European taxpayers $175,000, Lomborg told Stossel.
“Sure, if you give lots and lots of subsidies, you’re inevitably going to create jobs. But where are you going to pay it from? You’re going to pay it with higher taxes elsewhere, which of course is going to shed jobs.”