(EURASIA REVIEW) As Mexico is poised to plunge into its worst recession in recent-memory the leftist president is making cuts and pulling the plug on subsidy dependent intermittent power from wind and solar that has been driving up the cost of electricity for its financially challenged population.
Mexican President Andrés Manuel López Obrador won the 2018 election by a landslide. His approach to government spending — even in the face of the COVID-19 pandemic and its economic fallout — might best be compared to that of conservative icons Ronald Reagan and Margaret Thatcher.
Recognizing that industrial wind and solar electricity bring little to no value to electrical grids, Mexico is moving to avoid the higher electrical prices experienced by Germany, Denmark, Great Britain, South Australia, California, Wisconsin, Minnesota, and other governments that have heavily subsidized their supply of intermittent electricity.
Advertisement - story continues below