One of the most popular energy and economic blogs in Ireland
This is an excerpt from James Delingpole on the imminent collapse of SunEdison. By James Delingpole, 30 Mar 2016"Did you short-sell your solar energy shares as I advised last week in my Breitbart piece “The Solar Industry is Dying: Good Riddance?If you’d picked SunEdison – the world’s largest green energy company – you would have made a killing as its shares plunged further this week, amid rumours that it now faces imminent bankruptcy.SunEdison, valued at $10 billion in July 2015 is now worth just $400 million today. This represents a catastrophic loss for the investors gulled into this sector in the mistaken belief that “clean” energy is the future and that it’s possible to make lots and lots of money and polish your environmental conscience at the same time.Well maybe once you could but not any more. And it won’t be the last green venture to turn to ashes either for one very simple reason: renewable energy is almost entirely dependent on taxpayer subsidy. When the money runs out the business dies.I’m kicking myself that I didn’t follow my own advice and short those SunEdison shares. But I’m guessing there’ll be plenty of similar opportunities in the years to come.It’s one reason I can’t wait for the anti-green hedge fund – Cool Futures – I wrote about a few months ago to get going. Though it’s not going to make me much money (I bought a share in its management company via Gofundme), there are few things that give me greater pleasure that watching people profit from the collapse of the Green Ponzi Scheme.These troughers are lower than pond life; they’ve been leeching off us for years and now they’re getting the comeuppance that they deserve."
It is a fact that for all the negative things we say about Eirgrid, Ireland's national electricity transmission company, they do one thing better then most. They publish real time data on all electricity generation, consumption, import and export. It enabled Dr Fed Udo to carry out a complete analysis showing wind energy saves at best 4% of its own capacity. I claim that when you subtract parasitic power, it saves nothing at all. In any normal society, that would be the end of wind energy, but wind is different. It is the vehicle for corruption on a scale never witnessed and proves that government is not its own master. Is no wonder Ireland elected more independent politicians and Donald Trump is on the rise. The public are slow to learn, but when they do they act. Wind is being pushed by the EU and the Bookies are predicting a knife edge result. Crime does not pay
Meanwhile as SunEdison collapses, there is a renewed crisis in British steel production. Most are in danger of shutting down and the Prime Minister was forced to return off holidays to deal with it. Media reports predict job losses at 40,000. The reasons given are cheap Chinese dumped steel and high electricity prices. Contrast this to the statements from renewable energy advocates that renewable would bring jobs, would bring economic revival and compare it with the clash of opinion between me and my opponents. China is not in the EU, yet it can dump product to kill local jobs and when the local production is gone and the skills gone with it, Hey presto, the price will rise again. Not only are the jobs threatened but the pension fund was rifled to keep the company going amid such unfair competition. The world is gone mad, yet the green hysteria trundles on. At least some of tired to sound the warning.