Friday 4 March 2011

Quote of the Day

"The fundamentals of the low carbon economy are not going to be expensive … no more than 2 per cent of GDP."

Chris Huhne


Timbo614 said...

2% = 30 Bln. His previous estimate was £200 Bln?? = 13% GDP (Assuming 1.5 Trn)

So I have to agree on that nose extension.

From the speech:
"Half of my Department’s annual budget is spent cleaning up after past generations of nuclear and coal. Next year, it will reach two-thirds."

Socialisation of the real (dirty) energy industry costs... So we pay either way.

CityUnslicker said...

shame to have such numpties in charge though, eh?

Budgie said...

As has been said - he is a luhnatic.

Nick Drew said...

Timbo - I am guessing he means 2% per annum !?

a percent here, a percent there, pretty soon it adds up to real money ...

who knows: it's all sophistry & ratiocination: his counterfactuals are very suspect

it'll all be overtaken by the oil price, anyhow: I just hope this will be sooner rather than later

Timbo614 said...

Yes - punishment to self: Write out 100 times "Do not post in blogs before 2nd cup of coffee". I know it was half ten - had lie-in :)

7 years ish - but it's still 13% taken out of GDP in that time[squirms]. :)