Skip to comments.With Wind Energy, Opportunity for Corruption
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 Unions 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 rogues 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 ...
Yesterday the NYT highlighted problems with geothermal energy: Geothermal Project in California (backed by Obama DoE) Is Shut Down.
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.
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.
Money for nothin and the Chicks are free..
Subsidies. No wonder there are so many wind turbines in Europe.