Green energy companies crash

 

The RENIXX® – Renewable Energy Industrial Index has shed over 90% of its value since 2008.  The Hockey Schtick has the full story of Bankruptcy filed and Teetering on the brink companies here

 

Climate mania impoverishes electricity customers worldwide

Reuters

Global-warming-related catastrophes are increasingly hitting vulnerable populations around the world, with one species in particular danger: the electricity ratepayer. In Canada, in the U.K., in Spain, in Denmark, in Germany and elsewhere the danger to ratepayers is especially great, but ratepayers in one country — the U.S. — seem to have weathered the worst of the disaster.

America’s secret? Unlike leaders in other countries, which to their countries’ ruin adopted policies as if global warming mattered, U.S. leaders more paid lip service to it. While citizens in other countries are now seeing soaring power rates, American householders can look forward to declining rates.

The North American exemplar of acting on the perceived threat of global warming is Ontario, which dismantled one of the continent’s finest fleets of coal plants in pursuit of becoming a green leader. Then, to induce developers to build uneconomic renewable energy facilities, the Ontario government paid them as much as 80 times the market rate for power. The result is power prices that rose rapidly (about 50% since 2005) and will continue to do so: Ontarians can expect power prices that are 46% higher over the next five years, according to a 2010 Ontario government estimate, and more than 100% higher according to independent estimates.  Read more here

 

The next nail in the alternative energy coffin…German Banks Banned From Financing Offshore Wind farms

The knockout blow for the financing of offshore wind farms is the so-called matching maturities rule which was aggravated to stabilize the financial markets. ”Offshore wind farms cannot be financed by anyone. We have just been banned from doing this.”

Next bad news for the German Federal Government: Stricter regulations of the financial markets are endangering the green energy transition.

Everything depends on everything else, it is said forever. But who would have thought that this also applies to the banking regulation and the green energy transition? At a meeting of the Council for Market Economy, supported by the Association of Bavarian Industry (vbw), Commerzbank board member Markus Beumer granted insight into applied political chaos theory.

He doubted that the switch to offshore wind power generation will occur. The dream, he said, was founded on “wind farms that cannot be financed by anyone.” What particularly upset the banker: “We have just been banned from doing this”. The host and President of the Association of Bavarian Industry Randolf Rodenstock commented dryly: “When it comes to the green energy transition, nothing surprises me anymore. If there are no profitable businesses, then the transition will simply not take place.”  Read more here

Anthony Watts Quote of the week takes the cake for me.

Quote of the week – Death by Coochey coup

Posted on May 14, 2012 by 

The ANU “Climate scientists get death threats” story fabrication continues to unravel. Again, paging David Appell and Nick Stokes, your second helping of crow pie is served. And Mr. Appell, while you are eating that pie, maybe you’ll find the personal integrity to apologize for bringing my mother into your fantasy inflamed beyond all reason. (Update: apparently not) I’ll remind you of this writing on your blog:

Quarksoup

Read on

Here in Australia a desperate alarmist tries to whip up support from a diminishing pool of “fellow activists”

More communicating with the demented?

Andrew Bolt nails it with this quote:

We have to personalise the impacts. Everybody has been pussyfooting around the fact that when we have an extreme weather event like Cyclone Yasi, …because there is such pushback of saying ‘we can’t be sure that it’s climate related’ and so people back off it, that has been a major loss of momemtum in the campaign around Australia, that we’ve failed to name the connection and it has got to be named, and we’ve got to get on the radio… The scientific reports are saying it all the time. It’s a question of intensity.

But hang on. What happened to “respecting the science”? Even the Climate Commission, aggressively pro-warming, admits there is no proof that global warming has changed cyclone behaviour:

Read on