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Green Energy is a Noble Way to Lose Money According to Investors

May 10, 2013 by Paul Crowe

Is this what they mean when they say wind energy is green and clean?

Is this what they mean when they say wind energy is green and clean? Foundation being built for Lowell Wind.

Joseph A. Dear, Chief Investment Officer of the California Public Employees’ Retirement System

Joseph A. Dear, Chief Investment Officer of the California Public Employees’ Retirement System

Some people really believe in green energy and clean tech, but, unlike the government with unlimited access to your dollars, the number of people ready to risk their own money in the field is dropping. Institutions who made large bets on green energy are losing a lot and the outlook is getting worse.

The Wall Street Journal’s ECO:nomics conference held last week had a number of investors who have placed big money into clean tech, like Joseph Dear, investment chief for the California Public Employees’ Retirement System. They created a fund which invested $460 million in clean tech and green energy and they have a -9.6% return, receiving one tenth of their capital back.

… our experience is that it’s a noble way to lose money and we’re not here to lose money
~ Joseph Dear, CIO CALPERS

As we’ve already said, without huge federal subsidies, projects like the one proposed here in North East would never get started, and the rush is on to move ahead before the money runs out. You get the impression it’s nothing but a game and North East is going to lose big if the project is approved.

Link: Wall Street Journal

Filed Under: Wind Energy Tagged With: losing money

What can you do?

  • Be informed! Read as many articles on this website as you have time for, so you can understand the issue. Do your own research. Check us out.
  • Tell your neighbors about the wind turbines, point them to this website so they can learn more.

Comments

  1. Suzanne Albright says

    May 11, 2013 at 4:57 pm

    Having spent parts of every day over the past 3 years actively opposing industrial wind energy, I am increasingly amazed and bewildered to see that projects are still being proposed and built. The evidence against IWE (economic, environmental, scientific, healthwise) is overwhelming. I am currently horrified to see the proposed offshore project in Lake Erie near Cleveland moving forward. This will be a major battle, and the antiwind groups to which I belong are gearing up to fight this vigorously. Wind zealots will spare nothing, not even the Great Lakes, the most precious fresh water system in the world, to suck taxpayers dry of what little money we have left and destroy the earth with their lubricant oozing, toxic trash. Have Americans taken leave of their collective senses? Show me one wind project, anywhere in the world- ANYWHERE- that has reduced CO2 emmissions, replaced the energy source it was built to replace, and reduced ratepayer energy costs! IMPOSSIBLE. To sacrifice our mountain ridges, forests, oceans, and now lakes, countless threatened and endangered birds and bats to a painful bloody slaughter, all so a few large corporations and businesses can line their pockets with our money and send most of it overseas, is dispicable. SHAME on anyone in our government that supports this boondoggle. I pray that your community unites and puts an end to this project ASAP.

  2. Donna Davidge says

    May 11, 2013 at 5:21 pm

    I am completely in agreement with Ms Albright- pristine parts of the world that deserve to be preserved are killing forests, animals, birds and making humans ill in the name of a false green energy..the greed energy of wind. As someone completely opposed to this scam it is high time the public be told the truth. it does not work and is not free. In the fight to save Maine we have been very frustrated by the delusions that are sold to innocent folks..and greatly saddened by the destruction of our environment.

  3. Segue C says

    May 11, 2013 at 5:55 pm

    UNETHICAL INVESTING isn’t it if the unions are trying to influence the market?

    Teachers union in Ontario is invested in “greed” energy and helps indoctrinate students and their parents to believe in wind turbines.

    Insidious insiders trading on the public trust.

  4. mike dicenso says

    May 12, 2013 at 8:14 pm

    Windsprawl means big impacts with little or no benefits. If the climate change crowd wants to make meaningful reductions wind power is the wrong way. People need to demand facts and stop accepting the wishful thinking and fairy tales the wind industry is famous for.

  5. Teresa Sculley says

    May 21, 2013 at 4:43 pm

    I was asked a GREAT question last night! If power companies need 18% of their energy to come from renewable energy by 2020, how much do they already have in place? In Pennsylvania the three major power companies have wind turbine farms already in place! New York has wind turbine farms are already in place. So why are the wind turbine people leasing land in the small rural townships in Erie County? Erie County doesn’t have a power plant any were near it! Our power comes from Ohio! But our wind energy is going to New York. How much more renewable energy is needed by the power companies to comply with federal regs? How do we find out? Does the federal government require the power companies to stop acquiring leases purchased through federal support money if the power companies are at the 18% need? Good Question!!!

Unfortunately

The less you know about wind energy,
the more you'll like it.

Why wind developers never understand …

It is difficult to get a man to understand something, when his salary depends upon his not understanding it.

~ Upton Sinclair

Don’t know – Don’t care

Is willful ignorance necessary
to promote wind energy?

No, but it helps.

Climate Change

Another thing I must point out is that you cannot prove a vague theory wrong. … Also, if the process of computing the consequences is indefinite, then with a little skill any experimental results can be made to look like the expected consequences.

~ Richard Feynman, 1964

It’s not on-demand, it’s no-demand

Wind energy is "no-demand" electricity. If the wind isn't blowing and you demand electricity, the answer is no.

Wind – expensive, inefficient, unreliable



December 1923 Popular Science cover dreaming about generating electricity from windmills, and though the dream never dies, the dream doesn't work, didn't then, doesn't now and without huge government giveaways of your money, no wind farms would get built anywhere. The government forces utilities to buy wind power so payments to landowners are simply wind welfare.


Wind energy runs on tax credits

"I will do anything that is basically covered by the law to reduce Berkshire's tax rate, for example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit."
~ Warren Buffett - from interview with Fortune magazine

Wind investments and high cost green energy

“I’m in the wind business … I’ve lost my ass in the business. ... Hey, we can get on everything green. We can get on everything renewable. Then the cost of power will go up ten times."
~ T. Boone Pickens - on Morning Joe on MSNBC

Wind Turbine Map

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The complete map of all of the wind turbines proposed by Pioneer Green Energy in Erie County, PA and filed with the FAA. Plans not yet filed are not shown.

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