The Green Fail Marches On

That flushing sound you hear is another $50 million taxpayer dollars going down the shitter of Teh Won’s™ Green Energy policy.

Vestas Cuts 800 North American Jobs As Orders Slow

As many governments are hitting the skids financially, silly taxpayer dollar slurping schemes to save Gaia are falling by the wayside as they should.

Danish wind turbine maker Vestas said the impending expiry of a U.S. tax credit had exacerbated a fall in orders for next year, forcing it to make more than 800 job cuts in the United States and Canada so far this year.

With the Production Tax Credit (PTC) on renewable energy set to expire at the end of the year, Vestas Wind Systems A/S had previously said it could be forced to lay off a total of 1,600 employees in North America if the scheme is not renewed.

Vestas, which is battling the effects of government austerity measures in various countries, said the 800 staff cuts so far this year represented 20 percent of its North American workforce.

Just another example of the Ogabe administration’s remarkable ability to pick losers to sink our money in. I’ve said it a million times, barring some incredible advance in technology, it’s impossible for wind power to produce more than a tiny fraction of our energy needs. Many existing projects are being abandoned for a number of reasons including noise, maintenance costs and being food-processors for birds. The industry just can’t compete without ongoing, large tax-credits and other infusions of public money.

“The U.S. wind industry has slowed, largely due to the uncertainty surrounding the Federal Production Tax Credit extension,” said Martha Wyrsch, head of Vestas-American Wind Technology, Inc.

Rising costs and fierce competition, especially from Asian rivals, have added to its problems.

Vestas has already closed a number of factories worldwide and will transfer sales staff from southern Europe to South America.

The group told analysts and investors in briefings on Wednesday it would stop non-profitable projects as it battles worsening prospects, aiming to lift its operating margin to high single-digits in the medium term. [Emph. Mine]

Poor babies have to compete in the capitalist market place like everyone else and can’t make it. Yeah, South America and all those quasi-socialist governments should be easy to bribe into sinking money into our bullshit, but then what makes you think they won’t buy from the Chinese too? Unsaid in the article is that fiddy-million US bucks that we can kiss good-bye. I’ve seen quite a few estimates of how much the taxpayers could lose on OZero’s pet project. One number that did stick out was $35.5 billion for finalized loans and loan guarantees from DOE.

The group plans to shift focus increasingly to emerging markets in a bid to regain growth and offset cooling demand in mature Europe and United States markets.

The company’s order intake in the first half of the year was 24 percent down on the corresponding period a year earlier.

Vestas shares, which have plummeted from a peak of around 700 crowns set in 2008, traded down 1 percent at 34.65 crowns by 1023 GMT (0623 ET) against a 0.5 percent decline in the Copenhagen stock exchange’s benchmark index < .OMXC20>.

I love their choice of words “mature Europe and United States markets.” That means the adults are back in charge after the kiddies gave up their unicorns and skittles dreams. The nail in the coffin should be yesterday’s revelation that global temperature showed NO increase in the last 16 years. Unfortunately, AGW or Climate Change as they now call it seems to be the herpes of junk science, we just can’t make it go away, no matter how much hard evidence to the contrary is released.

Regardless, they’ll always find willing politicians to spend other peoples’ money in search of the enviro-vote. I would add you can bet that a second Obama administration would continue pouring money into failed technologies.

-Carry On

19 comments

  1. 1
    LC CiSSnarl5.7 Chariot Builder growls and barks:

    At last count : Six of the “green” companies that received direct payments from DOE – AKA tax payer subsidies were either in bankruptcy or had already failed. I don’t have those names at my finger tips …but the losses are in the Billions.

    Particularly galling – of the six companies to fail – One is being bought out by the CHICOMs…meaning the US taxpayer just footed the bill for some very high end equipment and research facilities.

    The other one is being snapped up by ….a Russian.

    The talking heads at CNN-NBC-CBS-ABC et al remain silent as The administration’s “fleecing of America” continues unabated.

    That the US Government even allows a foreign entity to take these companies weather they failed or not more than likely violates numerous laws concerning import and export, yet nothing is being done to stop it.

  2. 2
    SeafarerChief growls and barks:

    Page Not Found on the first link posted in the text..
    Big Brother has struck again??? :em08:

  3. 3
    Mike M growls and barks:

    It looks like the link got scrambled, Chief, with an “http://” dangling off the end that’s screwing things up. Here’s the story…

    Vestas cuts 800 North American jobs as orders slow

  4. 4
    Orion growls and barks:

    But see, since Global Warming can cause MORE ice on one pole and LESS ice on the OTHER pole (different mechanisms, don’t ya know), and can cause temperatures to go both UP and DOWN in differing regions (see, um there’s different uh, micro-climates and stuff), and can cause both MORE rain and LESS rain (due to um, well, math is hard), it’s pretty obvious that it can ALSO cause temperatures to stay EXACTLY the SAME!!

    Don’t you see? This is an additional SIXTEEN YEARS of evidence of Global Warm..Global Climate Chaos here that all you anti-science slopy-forehead right-wing neanderthals are ignoring!!

    Open your eyes!!!

    Orion

  5. 5
    Just Another Random Nut, GLOR growls and barks:

    I’m all for sustainable practices if they’re cost-effective. The problem is that the greenies can’t seem to process the whole cost-effective part. There’s got to be a balance.
    Just Another Random Nut, GLOR recently posted..Racism.My Profile

  6. 6
  7. 7
    LC Jackboot IC/A growls and barks:

    SeafarerChief says:

    Page Not Found on the first link posted in the text..
    Big Brother has struck again???

    Thanks Chief, seems Reuters dropped the article down the memory hole.

    Hmmm Mike’s link at #3 works. Very odd cuz I reset the link and fixed that syntax error to no luck.
    LC Jackboot IC/A recently posted..The Green Fail Marches OnMy Profile

  8. 8
    LC Jackboot IC/A growls and barks:

    Tallulah says:

    Who is Valerie Jarrett?

    Interesting note here. Valerie Jarrett’s father was college room-mates with one Frank Marshall Davis, a raving socialist that young Obama’s grandfather made his chief mentor. Davis was also a proponent of the black liberation movement as well. Of course the rewritten history calls him a ‘labor activist’. That apple didn’t fall far from the tree at all. By the way, and I haven’t heard any mention of it, Jarrett talked Obama out of whacking Osama Bin-Fishfood at least 3 times before the military prevailed in his decision making.

    Odd these things eh?
    LC Jackboot IC/A recently posted..The Green Fail Marches OnMy Profile

  9. 9

    LC Jackboot IC/A @ # 8: Yes it is indeed.
    LC cmblake6, Imperial Black Ops Technician recently posted..For Every Person Added To Labor Force, 10 Added To Those Not In Labor ForceMy Profile

  10. 10

    Just Another Random Nut, GLOR @ # 5: What was that definition of insanity again?
    LC cmblake6, Imperial Black Ops Technician recently posted..For Every Person Added To Labor Force, 10 Added To Those Not In Labor ForceMy Profile

  11. 11
    Fa Cube Itches growls and barks:

    Just another example of the Ogabe administration’s remarkable ability to pick losers to sink our money in.

    He wasn’t trying to pick winners for *us*. The proper people were paid, and paid nicely, at our expense. If you ain’t an elite, you ain’t shit.

  12. 12
    LC Gladiator growls and barks:

    Obama is like a shady used car salesman who is trying to sell us the same car we bought four years ago but returned because it was a lemon.

    It doesn’t matter that Obama changed the bumper stickers from “hope” to “forward” — the car is still a LEMON…and America is not buying it!

    JOE STALIN OF RUSSIA WOULD BE COMFORTABLE JOINING THE DEMOCRAT PARTY

    Democrats are ready to take over the Communist Republic of the USA when Obama and Pelosi make the declaration.

  13. 13
    LC Light29ID growls and barks:

    from southern Europe to South America. non-extradition countries in South America.

    Fixed it for yea :em01:

  14. 14
    sleeper growls and barks:

    I attended Semicon West this summer. There was an exhibit hall devoted to something called the Solar Expo, or something like that. The place was mostly filled with solar panel manufacturers, all displaying essentially equivalent products. Walking through the place, seeing how businesses were all competing to sell new technology would make you think business was good. Unless you knew that it was all subsidized by either the US government or the Chinese government. In that light, it was disgusting.

  15. 15
    Just Another Random Nut, GLOR growls and barks:

    LC cmblake6, Imperial Black Ops Technician @ #10: Besides doing the same thing multiple times and expecting a different result? XD

  16. 16
    Tallulah growls and barks:

    Thirty years ago, they were pushing solar farms. Trouble is, you have to have a collectors’ array that covers half the state of Texas to get enough sun power to do much. Why? well, even an English major like me can figure that one out: fossil fuel is a real intense concentration of “sun power” in a very small package. Condensed and concentrated and compressed over millions of years. Solar power? just the original strength, square foot for square foot, as it were. So you have to cover a huge amount of land with the solar panels.

    Then there’s the rain and the bird shit to think of. And the power it takes to tilt them to keep them perpendicular to the sun’s rays. And the energy it takes to manufacture the panels (Greenies never, ever think of things like the waste from battery manufacturing or any of their other boutique gadgets).

    Bottom line: they’re not very efficient. But they’re pretty good for lighting up your garden gnomes at night, or some modest auxiliary domestic power.

    So Raytheon (among others) was experimenting, way back in the 1950s, with beaming microwave power through space. The engineers were seeing if they could have satellites on orbit that could collect much more concentrated sunlight in space, unfiltered by the atmosphere, and beam it down to earth via microwaves. They did manage to transmit microwave power outdoors, but an engineer told me they would have problems with cooking birds and airplanes that got in the way, and the “side load” when it hit the ground would be considerable (that’s the bounce to the perimeter when the beam hits).

    Anyway, it’s a matter of concentrating, condensing, and collecting energy. Solar isn’t very good, too weak for industrial use. Windfarms are a real eyesore and bird-killer (funny how the Greenies will shut down Calif.’s Central Valley breadbasket for a small, insignificant fish, but don’t care that windfarms kill thousands of birdies). And unreliable, and make a lot of racket for anyone near them. And break down constantly — just drive through England and see how many aren’t spinning on a windy day. PITA. Good for sailboats, though.

    As the gears would say, “they don’t scale up good.”

  17. 17
    LC CiSSnarl5.7 Chariot Builder growls and barks:

    IRT to my Post # 1 Above the company in Question with the CHICOMs A123 is a lithium battery maker that is going under, updated information has it that the sale to the Chinese has been shelved.

    The CEO of A123 Stated that “Unforeseen” difficulties with the sale to China have arisen – So what the hell does that mean?

    Translated into normal every day man on the street language? As I stated above – being very intimately familiar with Import / Export issues due to my line of work…I’m willing to say that there is a 75 % or greater chance they (A123) tried to quietly fire sale this company to the Chinese, cut and run with what ever profits they could salvage, and some where – SOMEONE in the morass of Government Agencies that deal with these issues was paying attention for once, saw that there were issues, and threw up a red flag to halt the sale.

    Regardless of that and given the amount of money granted – not loaned – to A123 – the taxpayer is going to get burned on this. company.

  18. 18
    LC Sir Rurik, K.o.E. growls and barks:

    LC Jackboot! Congratulations. You seem to have been chosen by Sultan Knish. :em01:


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