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
Suzanne Albright says
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.
Donna Davidge says
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.
Segue C says
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.
mike dicenso says
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.
Teresa Sculley says
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!!!