IN HIS attack on renewables, Nick Blitz shows a hedge fund manager’s instinct for global economics – pursue the cheapest deal today, make a fast buck and stuff the consequences (Letters, June 12).

His figures don’t add up. While he criticises subsidies for renewables, he ignores, as does George Osborne, the far greater subsidies to fossil fuels that exist in the form of tax perks to multinational companies, the costs to our healthcare systems from the respiratory diseases caused by fossil fuels, and a dozen other direct and indirect subsidies.

Worse still, he fails to engage with the way in which the developed world is pouring energy money overseas instead of investing in producing the energy we need at home.

To a hedge fund manager, buying stuff in from overseas doesn’t matter – why care about millions of jobs lost? All they want is the biggest return now. For the rest of us it does matter.

Investing in producing renewable energy at home is good for employment, health, carbon reduction, and the security of our energy supply.

Energy prices are going up not because renewables exist but because fossil fuels are becoming harder to find and more expensive to produce.

Germany has set a course to become the world leader on low-carbon technologies because they represent the future.

Christian Vassie, Blake Court, Wheldrake, York.