More Big Money Announced for Clean Energy. I hope it drains all their bank accounts.
Bill Gates and Four Other Billionaires Look To Invest $1 Billion
It was announced today that Bill Gates is forming a cabal with four other big investors to develop new, cheap clean energy sources including wind and solar. They all say we should be done putting carbon into the atmosphere by 2050. I'm not sure any of them will be around to see it through. They should consult with another of their billionaire friends, T. Boone Pickens, who tried wind and solar and found he could not make any money. He has a whole field full of of wind turbines he bought and never put up ten years ago because he realized he could not make any money. At least these guys are not in it for the money, rather just to finance others to scam the system. Geeze! The sooner we get out of the Paris Accord and get real scientists and executives in the system the better.
http://www.wsj.com/articles/bill-gates-others-launch-clean-energy-f...
http://www.forbes.com/sites/kerryadolan/2016/12/12/bill-gates-launc...
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Comment by Eric A. Tuttle on December 13, 2016 at 12:14pm
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Comment by Penny Gray on December 13, 2016 at 11:52am
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Isn't Bill Gates (TerraPower) working with China on innovative nuclear technology?
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This sounds to me like more of the same ' tax equity investing' that is funding the Pisgah industrial wind energy facility here in Clifton. Here it is a Canadian equity investor. The investor acquires the negative tax 'assets' of the venture and so gets a net loss that offsets the investor's profits in more lucrative investments. The tax equity investor provides funds for the wind energy facility that can't attract investors looking for profit because the facility will be operating at a loss, at least for the first few years. The tax equity investor bows out after those years and ownership switches back to the original 'investors' who basically only brought a permit to the table, no monetary assets and a bunch of debt getting the permit. Here it is 90% of the 'net profits' go to the equity investor the first three years and then decreases. By then the facility is either in the green or defunct.
Just finished reading the novel 'Cold Wind' by C J Box, written in 2011. I wish I had read it then. Gives a good analysis of the 3 kinds of developers. The 'skimmers' definitely prevail in the wind scam arena. It will be interesting to see how these 5 already wealthy investors proceed. In for the long haul or there to skim and fold.
The novel includes a graphic scenario that I have envisioned many times. Right up there with "Killing Maine" and the sniper guy. 'Cold Wind' is available for $9.99 on Amazon Kindle or for free from Maine Infonet Download Library if you have a participating library card.
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Gates had in the past made claims of using only Renewables for one of his Complexes..... however it was discovered that was incorrect. Maybe he was compelled to put up, since he can not take it back. Maybe he is hoping the 4 others will absorb part of what he knows to become a loss.
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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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/
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