GWPF
"Crony Capitalism, Green Energy Division: The lead story in today’s New York Times is a devastating look at solar and wind power subsidies. Too bad it appears on a Saturday when fewer people will read it (which may not be a coincidence). The print hed and sub-hed tell it better than the online version: “Rich Subsidies Powering Solar and Wind Projects: Big Rise in Government Aid—Companies Are Virtually Assured of Profits.” It’s worth reading the whole thing to soak in the outrageousness of the whole scene, but this graph gives a worthy summary:
The government support — which includes loan guarantees, cash grants and contracts that require electric customers to pay higher rates — largely eliminated the risk to the private investors and almost guaranteed them large profits for years to come. The beneficiaries include financial firms like Goldman Sachs and Morgan Stanley, conglomerates like General Electric, utilities like Exelon and NRG — even Google. "
No comments:
Post a Comment