Good day all. When the current crop of Communists Democrats came into office, they brought with them their latest plan to wreck America, the Green New Deal. The short version is that it would turn the United States into a bankrupted Communist country.
Once people saw just what the Green New Deal would entail, most of them said “Hell NO!” to the whole thing. Of course, with the installation of President* Balloon Brain Biden, the regulatory agencies have been been ramping up the plans to basically enslave the American People to windmills and unicorn farts. However, as is always the case with Moonbats and Morons, economics has reared it’s ugly head. Now the “Green” companies are again seeking a taxpayer bailout. Here are the details from Fox News:
Global green energy company Siemens Gamesa reported Thursday that it had lost a staggering $967 million during the three-month period from between October to December.
The Germany-based company, which dubs itself as “the global leader in offshore power generation,” noted the wind industry has faced various unfavorable pressures leading to negative growth in recent months and years, in its earnings report for the first quarter of fiscal year 2023 released Thursday morning.
I suspect that one of the “Unfavorable pressures” involves all the dead whales washing up on beaches lately. Although no necropsies have been done, the thinking is that the sonic shock waves from the tools used to prepare offshore sites might be killing the whales as they swim past. Then there is the issue people not wanting their views ruined by hundreds of windmills. I also suspect that they aren’t handling things like weather to well either.
The company added that governments would need to further assist the industry to ensure future positive growth.
“The negative development in our service business underscores that we have much work ahead of us to stabilize our business and return to profitability,” Siemens Gamesa CEO Jochen Eickholt said in a statement.
“The beginning of fiscal year 2023 saw a further increase in global wind demand prospects for the next ten years, but further governmental action is needed to close the gap between ambitious targets and actual installations,” the company added in its release.
And what do you think they have in mind for “Government action?” First will be shutting down any objections by the coastal states regarding locating and building the offshore eyesores. Second? Cold Hard Cash of course.
Siemens Gamesa stated that it is facing headwinds that include slow permitting, electric grid constraints and regulatory uncertainty. Such market conditions are, in turn, causing “sizeable losses” in the wind business, employment destruction and investment constraint.
I was right in regards to the states blocking them from building the seagull mulchers. As to the power grids, the various ISO’s and RTO’s are tasked with one thing. Making sure the power grids are stable. One of the problems with windmills and solar panels is that they aren’t reliable.
If the wind doesn’t blow, or doesn’t blow fast enough then there isn’t any power being generated. On the flip side, if the winds are to strong, then the operators have to feather them, (Turn the blades in such a way that they wind doesn’t rotate them. It’s the same principle a multi-engine propeller drive aircraft uses if they lose an engine) In either case, there is no energy being produced.
The company concluded that the “sizeable gap between recent installation expectations and targets” is endangering the energy transition.
Overall, Siemens Gamesa’s losses reported Thursday represented a more than 100% increase in losses compared to the same period last year, according to the company.
Perhaps these losers should take the hint and understand that the economics just isn’t breaking in their favor. Of course, this isn’t about economics at all, It’s all about the ruling elites pushing their desires on an unwilling public.
The poor performance from one of the world’s largest wind turbine makers comes as governments continue to push aggressive wind strategies in an effort to decarbonize their grids and become less reliant on fossil fuels for power generation.
“But look, you know, we’re going to deepen our partnership on offshore wind as well as climate overall, and create jobs — good jobs, union jobs,” Biden remarked in June.
“And my administration set bold targets to start with: 30 gigawatts by 2030. That’s 10 million homes. Ten million homes with offshore wind,” he continued. “Ports turned back into economic engines, being in a position where foundries and factories are up and running — again, creating jobs. And a more resilient grid, harnessing technologies like battery storage.”
I would ask if that senile idiot has a clue about how any of this works, but then this is Joe Biden. Even in his heyday, he would come in second to a tree stump on any subject, other then graft and corruption of course. (And hair sniffing. Can’t forget that)
A report on offshore wind from the Global Wind Energy Council noted that while a record 21.1 gigawatts of offshore wind was connected around the world in 2021, that figure fell far short of what is needed to reach net-zero. And the International Energy Agency said 70 to 80 gigawatts of offshore wind must be installed annually by 2050 to transition from fossil fuel dependence.
The issue they’re finally discovering, (And denying it is happening of course), is that reality has a way of upsetting all their carefully prepared centralized plans. It didn’t work for the Soviet Union and it’s not going to work here. I don’t recall anyone talking about what would happen to these off shore wind farms if a major hurricane came in. Somehow, I don’t think they’re built to handle 150+ mile an hour winds, not to mention the storm surges.
I suspect that the maladministration is going to throw more taxpayer money at these clowns, and some of it might actually be spent on windmills. Eventually, this is all going to collapse from it’s own weight. The problem will be, there won’t be anything left to take up the slack if the Progressive unicorn fart sniffers have their way. This company needs to go Chapter 7 sooner rather then later.
Thatisall
(3 votes, average: 5.00 out of 5)
Loading...
~The Angry Webmaster~
