Energy Industry appeals for ARRA extension (6/30/10)

See the following article in this morning's News Wire:

http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=n...

It appears the markets have decided that wind scams are too risky for their capital so the Scammers expect taxpayers to continue fueling their gravy trains!

I especially get a kick out of this paragraph:

“The renewable energy industry is facing a new double crisis: first, a “stimulus cliff” will occur as the ARRA provisions sunset, and, second, a drought of capital continues because the financial crisis has not ended,” said Michael Eckhart, President, American Council On Renewable Energy. “Indeed, the financial crisis goes on, and if not addressed, the situation risks losing thousands of jobs that were just gained under ARRA.”

Also:

“The project equity markets have not returned to their pre-crisis levels and the Recovery Act measures helped save the situation,” said Patrick Eilers, Managing Director, Madison Dearborn Partners, who serves on the Board of Directors for U.S wind energy company First Wind. “For example, with access to the ITC grants and other measures to help fill the finance gap, the U.S. wind industry saw a 39% increase in installed capacity in 2009. The uncertainty and volatility in the tax equity and credit markets make the grants program fundamental to developers that would otherwise be unable to commit risk capital to start to build projects.

In other words, these projects don't make enough sense for the market to invest in them!

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Comment by alice mckay barnett on June 30, 2010 at 11:58am
Hence, although Germany’s promotion of renewable energies is commonly portrayed
in the media as setting a “shining example in providing a harvest for the
world” (The Guardian 2007), we would instead regard the country’s experience as a
cautionary tale of massively expensive environmental and energy policy that is
devoid of economic and environmental benefits. As other European governments
emulate Germany by ramping up their promotion of renewables, policy makers
should scrutinize the logic of supporting energy sources that cannot compete on the
market in the absence of government assistance.
Such scrutiny is also warranted in
the US, where there are currently nearly 400 federal and state programs in place
that provide financial incentives for renewable energy (DSIRE 2009).

Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

 

Maine as Third World Country:

CMP Transmission Rate Skyrockets 19.6% Due to Wind Power

 

Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.

Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********

(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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Vince Lombardi 

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