Just watching Chris Kenny on Sky and in light of the government easing, or rather encouraging and broadening the scope for superfunds to invest in unreliable and unaffordable, renewable energy projects to meet the totally unachievable, fanciful and impossible net zero targets, it occurs to me that on the back of the failure of myriad, next shiny thing, green hydrogen projects for example, the renewable ideologues and superfunds will be playing fast and loose with the retirement savings of ordinary Australians.
The fact that renewables can’t stand alone and are on the market distorting, artificial life support of taxpayer subsidies and coal has been totally marginalised and frozen out, what happens to the investments when those subsidies are withdrawn or there’s another global financial crisis?
This kind of irresponsible gamble and the backing of favourites has never been part of the remit of the superfunds.