More food for thought…
Last week T. Boone Pickens, the Texas billionaire, ditched the “Pickens Plan”, a scheme to build 4,000 MW of wind capacity in Texas.
The same week “Deep” Dalton McGuinty announced plans for Ontario, with Samsung to build 2,000 MW of wind capacity and a few fabrication plants in this province.
Why are these contradictory decisions so interesting? T. Boone abandoned his plans because no financier thought building wind turbines made any financial sense. But Ontario taxpayers are ponying up $7 billion smackeroos for the privilege of doing what no one else in North America will.
Stock prices of most players in the wind industry are in a free-fall. Backruptcies abound (see Skypower). This makes for a very shaky industry.
A Spanish study last year calculated the following: each subsidized “green” job costs $774,000…and two existing jobs are lost. If you doubt this, look it up. In Ontario, then, Dalton’s 50,000 green jobs would leave 100,000 unemployed and cost taxpayers roughly $38 Billion.
There’s a glut of cheap shale gas in North America and prices are very likely to remain depressed for decades. This makes gas a very compelling resource for electricity production.
And the kicker…wind power’s star rose when the climate change fears and CO2 reduction were a hot issue. But, after Copenhagen and, now, Obama’s stunning Senate loss (compromising most of his agenda regarding energy), there is no reasonable chance that carbon cap-and-trade/CO2 reduction legislation will see the light of day in America. Given this, no meaningful curbs on CO2 are likely to be seen in Canada either.
Put this all together and what do you get? Wind power, as a large-scale, global commercial technology, would seem to be floating facedown in murky water!
Except, of course, in Ontario. Because Dalton cannot see the forest for the tress. So, by mistakenly assuming that wind has a global future, he has entered into this insane deal with Samsung.
If all remains as it is, you and I will pay..and pay dearly. And Dalton curried the ground for this Samsung initiative by enacting the Green Energy Act, simply to stifle opposition from communities like ours.
The whole sorry mess is simply perverse. Yet here we are in Prince Edward County staring as many as 1,000 industrial wind turbines squarely in the face. White elephants in the making…job-killing, dollar-sucking monsters towering over our homes and disrupting our lives. And for what?
Brian Flack, Athol Township