An entire hill side of busted wind turbines ..     20 sec. into video, plus a shot of a large blade in a field. 

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Comment by Long Islander on July 25, 2019 at 12:32am

Commentary: I finally understand how organized crime works

By Richard Lawless

Imagine, if you will, that a number of technically bankrupt companies were able to issue $70 billion dollars in bonds. Imagine that these companies were able to buy BBB+ ratings for these bonds. Imagine, for a moment, that a number of major banks knew these companies to be bankrupt but were willing to sell the bonds to their best clients.

In a perfect criminal world, no one would be the wiser. But we live in an imperfect world. In our world, these bankrupt companies couldn’t pay the bond payments for very long. In our world, the companies eventually default on the $70 billion dollars.

What if in this imperfect world people found out that the $70 billion dollars was a complete fraud. What if the victims went to the Department of Justice and claimed that the companies were bankrupt when they issued these bonds? What if the major accounting firm for these agencies admitted under oath that they knew the companies were bankrupt?

What if the CPA firm prepared misleading financial statements for the companies anyway? What if under oath a number of people testified that the rating agencies and banks knew all this, but participated despite knowing about all this fraud? What if the bankrupt companies admitted that they did all this?

Well in a perfect world they would all be arrested and spend the rest of their lives in jail. However, we live in an imperfect world. So, imagine if you can that dozens, possibly hundreds of victims took this information to the Department of Justice and Securities and Exchange Commission and they did nothing.

Imagine if a certain senior politician were able to place political appointees within the Department of Justice and SEC who would make sure there were no investigations or prosecutions in exchange for hefty political donations. Further, imagine that most of our congressmen and senators finance much of their campaigns with money from these firms.

What if the dirty little secret was the congressmen and senators all knew this to be true and do nothing about it.

In a perfect world this article never gets written and if written never gets published. In an imperfect world you just read about the Puerto Rico Bond Default.

Comment by Eskutassis on September 25, 2017 at 5:38pm

When these behemoths, the size of a 747 standing on its tail, are installed floating in the gulf of Maine, I wonder how many will look like these in Puerto Rico when a big winter northeaster like the one that sunk the Andrea Gail come through. That might provide an opportunity for repairman and diver jobs.

Comment by Robert Powers on September 25, 2017 at 4:03pm

Many of the investors are "funds" like the "Oppenheimer Fund" a large number of foreign investors as well, plus stock holders in a variety of energy companies...these are NOT insured like mortgaged  loans, business loans etc...however, I do know that Loyds of London is an insurer a few cases...but can not speak for Puerto Rico projects....

Comment by Eric A. Tuttle on September 25, 2017 at 1:24pm

We gave them their seed money for their folly. It is their responsibility to take care of our investments. Since they did not have cash in hand, one would assume that any lending agency or bank would require full insurance like a home loan or business loan. Maybe the Banks are depending on another Bailout.

Comment by Robert Powers on September 25, 2017 at 12:12pm

...and I wonder who will pay for the re-building of the wind projects????  The investors? will be the tax payers...being a U.S. Territory...but the original company and the wind investors should take full responsibility...I do not believe they are insured since their design specifiction was limited to less than 150 mph....

If they were insured...future premium increases will reduce any potential profits.

Comment by Eric A. Tuttle on September 25, 2017 at 12:01pm

This is more evidence about the need of decentralized power production. Independent energy production is vital for remote locations where transmission must extend for miles. This goes back to the saying of not putting all of the eggs in one basket. Solar did not fare well either. 

Comment by Long Islander on September 25, 2017 at 11:02am

The following article places much of the blame for Puerto Rico's ongoing electricity blackout on a lack of decentralized renewable energy, e.g., if there were more homes producing their own electricity via solar panels, many would be less affected by such violent weather. For one, I'd love to know how well solar panels stand up in such storms. Maybe there's a germ of an idea here, so long as the panels can be storm proofed or somehow be moved out of harm's way. But overall, I believe the article to be dishonest because regardless of the fuel source, if the means of electricity transmission fail, the grid fails. I don't know of any industrial wind projects that aren't at the mercy of transmission.

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."


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


(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 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?" 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.”

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