Silicon Valley Ditches Green Energy
The Wall Street Journal reports that Silicon Valley venture capitalists are learning what the rest of us have known for some time: most green energy projects simply aren’t profitable. A recent survey of venture capitalists suggests that these investors are preparing to pull their money out of green ventures in record numbers in 2013 to invest in more traditional enterprises.
There’s a special place in the lefty dreamscape for investors in profit-losing green energy placebos.
I remember various columnists shrieking about how profitable green energy was due to the involvement of venture capitalists. After all, they reasoned, they’re hard nosed capitalists who know how to make money! Yeah, right. None of them could see these projects were attractive due to the guaranteed returns from government. I wonder if they’re beginning to notice?
Smart money has been fleeing from green energy for quite some time. The only money to be made is from investment hype and hysteria. To put it simply, buy the IPO at a low price in the knowledge that moonbat investors will drive the price up; then before the they discover the error of their ways sell for a profit. The only place that solar energy collection makes economic sense is in outer space..funny that’s where moonbats come from!
The fools have bought the con, the grifters have their money but they can feel so morally superior because if you chug enough Eco Greenie Kool Aide, you know you are saving Gaia while simultaneously making you farts smell like roses.
I suspect that “green” energy was only profitable as long as it was subsidized by government. Once the government handouts stop, the venture ceases to be profitable.
Ergo,everyone sells.
This is what government is for. Where private investors fear to tread is exactly the terrain that fools such as Obama and McGuinty want to occupy. Green energy only works with massive taxpayer subsidies.
JMD, Ottawa
“Most of the investors in these projects are smart individuals and successful businessmen in their own right, and there’s only so long that they will accept the repeated failure of their investments.”
I have no doubt that some of the left leaning business people are extremely smart, but the green energy scam is proof positive that the left are an irrational bunch and feelings and emotions will over ride wisdom.
Reality defeats ideology – in time – every time.
What if……Obama doesn’t let them stop using green energy sources?
What if Obama punishes them for quitting the plan?
Outs them in a news wire or paper, sends Union goons to reeducate them or just takes over their mickey mouse companies instead.
I am guessing that if green energy (or any game changing technology) is ever to become financially viable it will be because of someone with iDEAS who is willing to WORK HARD and have SKIN in the game. Obama proved he is willing to win elections mortgaging the future of the US by punishing and thereby demotivating the 1% who are deemed “rich” to get the votes of the 47% entitlement crowd who, with their hands permanently out, are by definition LESS than useless. Sadly, Obama is teaching the children of the entitlement crowd to be equally or even more useless than their parents. New technologies will not come from bureaucrats or the favoured few who made large donations to Obama. Neither will they be as likely to come from Silicon Valley once the rich in California are taxed at 60%+.
Some times you have to let a SMART dog catch the rabbit to keep the bitch interested in chasing rabbits.
Silicon Valley used to be land of free thinkers and very interesting people. It has saddened me to see what it has become: a land of universally left-leaning, brainwashed, boring people who think the same, vote the same, dress the same, eat the same and act the same. The only thing saving the Valley these days is legacy businesses and the very few real inventors left (and by real inventors I mean those produce something of economic substance and consequence, and not the Zuckerberg’s of the world).
The race by VCs to invest in “green” was not because they believed in the concept, but because they hoped to get government handouts and hoped to play the scam long enough to get their money out with some profit.