Friday, January 14, 2005

It doesn't work

Marcus Rand, chief executive of the British Wind Energy Association, asks, "If this stuff doesn't work, why would major companies be investing millions of pounds in developing it?"

Meanwhile in Ireland, "Sustainable energy firm Airtricity said it will not go ahead with any further wind energy projects due to the uncertainty over continued Government support. ... [Chief executive Eddie O'Connor] said the industry was struggling because banks were not prepared to provide finance with the amount of uncertainty surrounding the sector."

Seminars in the U.S. explain that tax breaks can cover 75% of the cost of a wind facility.

That is to say, this isn't investment. It's piracy. Without the government's support, forget it. Why, Marcus Rand? Because putting this technology on the grid doesn't work.

P.S. Even if those "major companies" (such as military contractors GE and Halliburton) were honestly putting their own money into them, that doesn't mean anything. The U.S. has spent billions for a "star wars" defense system that still isn't anywhere near working (not to mention that it would be totally unnecessary even if it did work). Money is a marker of folly more often than wisdom.