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With Wind Energy, Opportunity for Corruption
New York Times ^ | December 13, 2009 | Doreen Carvajal

Posted on 12/13/2009 10:10:27 AM PST by reaganaut1

...

Stoking the [wind energy] frenzy in Europe is the vast revenue available through a variety of subsidies, including the European Union’s farm subsidy system, which distributes more than €50 billion, or $73 billion, a year to farmers, corporate agribusiness and rural development projects.

In Europe, more than €6 billion in structural and agricultural subsidies have been allocated for renewable energy over a 13-year period ending in 2013. This is an attractive sum for a relatively new industry that experts say gets the benefit of the doubt because it has an eco-friendly image that seems above political reproach.

...

[C]ritics say the available riches and patchy controls are luring a rogue’s gallery of corrupt politicians and entrepreneurs trying to literally create money out of thin air.

...

[P]olice investigators have been busy across the continent in recent months. Earlier this year five Corsican nationalists were jailed and fined for skimming €1.54 million in European subsidies for wind farms. In Italy — where three investigations are unfolding — 15 people were arrested last month in a case the authorities code-named Gone With the Wind. They described it as a complicated Ponzi-style scheme to reap as much as €30 million in E.U. aid.

...

In the [U.S], one of the top three wind energy producers along with Germany and Spain, the Energy Department is doling out aid covering 30 percent of project costs and has already announced more than $1 billion in grants — with individual grants near $100 million.

...

The lure is basic: a standard 2 megawatt turbine costs about €2.75 million to build and earns about €275,000 a year for the sale of electricity at the market rate. But that revenue can double to about €500,000 with special state-mandated incentives paid by utilities as a premium for renewable energies.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Crime/Corruption; Government
KEYWORDS: energy; renewable; wind; windenergy
Even when renewable energy mandates and subsidies (including cap-and-trade) are administered without corruption, they are very expensive, and corruption will only add to costs.

Yesterday the NYT highlighted problems with geothermal energy: Geothermal Project in California (backed by Obama DoE) Is Shut Down.

1 posted on 12/13/2009 10:10:27 AM PST by reaganaut1
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To: reaganaut1; justiceseeker93; Clintonfatigued; Nachum; Free ThinkerNY; GOP_Lady; MamaDearest; ...

The career political crooks who inhabit our government today don’t need opportunity, they create it and then move on the American taxpayers and fleece them.


2 posted on 12/13/2009 10:14:59 AM PST by ExTexasRedhead (Clean the RAT/RINO Sewer in 2010 and 2012)
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To: reaganaut1

I bet a 3rd of their windmills aren’t even hooked up.

I was a kid when I went to see a wind mill in Cleveland and they told me that the wind mill that they had next to the museum wasn’t connected because it was too expensive.

They just spinning and that was it. The power was just run over a resistor.


3 posted on 12/13/2009 10:17:08 AM PST by dila813
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To: reaganaut1

bump


4 posted on 12/13/2009 10:22:11 AM PST by VOA (I)
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To: VOA

Money for nothin and the Chicks are free..


5 posted on 12/13/2009 10:29:05 AM PST by Oldexpat
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To: reaganaut1

Subsidies. No wonder there are so many wind turbines in Europe.


6 posted on 12/13/2009 3:09:01 PM PST by sionnsar (IranAzadi|5yst3m 0wn3d-it's N0t Y0ur5:SONY|Remember Neda Agha-Soltan|TV--it's NOT news you can trust)
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