Just when things were starting to look up for wind power, new troubles are pulling it back down.
In recent years, soaring inflation, supply-chain chaos and rapidly rising interest rates shocked turbine manufacturers and their customers, upending a business model that depended on cheap financing to compete with fossil fuels.
Companies across the industry suffered steep losses and saw investors flee, despite the promise of huge growth as governments try to deliver on pledges to prevent a climate calamity.
This year appeared to promise a return to stability and profitability, with turbines’ main input — steel — getting cheaper, inflation cooling and interest rates starting to fall.
But a recovery is proving elusive. The bad news started in recent weeks just off the coast of Nantucket, Massachusetts, when a turbine blade plunged into the sea, sending debris onto the beaches of the billionaire-inhabited island.
Gee, that’s a shame.
Recovery? Inflation falling? On what planet?
Bloomberg is pimping for the Left as usual.
“…on pledges to prevent a climate calamity.”
Whatever happened to “climate emergency”…”extinction”….”holocaust”…”genocide”…
Meanwhile, Michael Bloomberg swans between NYC and Bermuda on his private jet several times a week.
“Business Insider analyzed four years of flight data associated with a fleet of eight aircraft owned by Bloomberg….”
The elites should have to travel via dirigibles – filled with green hydrogen of course.
Don’t forget “climate crisis” and “the planet is boiling”
“Meanwhile, Michael Bloomberg swans between NYC and Bermuda on his private jet several times a week.”
Yes but they’ve removed all single use plastics from the plane.
Saving the world, one straw at a time….
ESG investing 101 … FAILED businesses propped up with taxpayer subsidies. Yes, ESG investing is a classic pyramid scheme … if you don’t reap the initial benefits of the subsidy-farming … you’re screwed. And the SEC can’t help you. The money’s gone.
The bad news started in recent weeks just off the coast of Nantucket, Massachusetts, when a turbine blade plunged into the sea,…”
Heh…bad news for some. It should be noted that a certain uber environmentalist and ex-heroin addict who’s reinvented himself of late and his Uncle Teddy were at the forefront to stop wind turbines being built off Nantucket and Cape Cod.
Turbines apparently are for poor people’s backyards.
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” Ronald Reagan
The climate scam in Canada reminds me of the Marc Lalonde “Scientific Research Tax Credit” scam. Lots of money poured into “scientific research” which simply evaporated. MUCH if not the majority of the money actually went into real estate. It was a fraud from start to end.
shocked turbine manufacturers and their customers discover reality. Given the wasted resources they have advocated by pushing expensive and unreliable electricity, I’m happy with this.