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Money Talks from The Economist

Money talks: Clean energy’s dirty secret

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 21 February 2017

⏱️ 18 minutes

🧾️ Download transcript

Summary

Could the rise of renewables be putting the traditional electricity market into a crisis? Also: Economist Diane Elson takes governments to task about the gender biases in their economic policies. And how the Brazilian government is tackling one of its biggest financial problems: pensions.

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Transcript

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0:00.0

Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey.

0:11.0

So no excuses not to visit your in-laws this Christmas.

0:16.5

Trains now on Uber. T's and C's apply check the Uber app. Hello, I'm Simon Long, Finance and Economics Editor, and this is Money Talks.

0:29.0

Later in the programme, Clean Energy's dirty secret.

0:33.0

These subsidies now are not just supporting renewable energy.

0:36.0

They're also being used to support fossil fuel energy as well.

0:40.0

Professor Diane Elson, a pioneer of gender budgeting, explains her work.

0:44.9

They thought the governments were gender neutral, but in fact the budgets were gender blind.

0:49.9

And Brazil moves at last to tackle its pensions crisis.

0:53.4

The public system for private sector workers

0:56.2

notched up a deficit of about $50 billion.

0:59.2

But to start, we tend to look on renewable energy as almost unambiguously a good thing.

1:08.3

We may grumble at the way wind turbines disfigure the landscape and endanger birds, or regret that we don't live somewhere sunny

1:14.2

enough to get all our electricity from solar panels.

1:17.3

But we welcome the reduction in global carbon emissions and that renewables are getting cheaper. But our cover story in this week's economists

1:24.8

suggests that the rise of renewables

1:26.3

is putting the global electricity market

1:28.1

into something of a crisis.

1:30.0

Its author, Henry Trix, our Energy and Commodities Editor, joins me now.

1:34.4

Let's start with cost, Henry.

1:36.2

It is getting cheaper, but who's benefiting?

1:38.5

It certainly is getting cheaper in the course of the last year or so.

...

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