"It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong." Richard P. Feynman

Wednesday, October 5, 2011

Clean Energy in Australia after Solyandra

The Big Green propaganda machine is going full steam as questions are rightly being asked about the mad rush to so-called clean power in the wake of the Solyandra train wreck. "It is different in Australia" and " you can not always get it right" is part of an article in the SMH by Kane Thornton of the Clean Energy Council .

There is no doubt the US government backed the wrong horse when it funded Solyndra, a major solar manufacturer that received more than $500 million in loans from the US government. But anyone who has been in the investment game for the long haul knows you don't always get it right. The world's third-richest person, Warren Buffett, has backed the wrong horse plenty of times. The trick is to spread the risk so that the wins eclipse the losses. Investors around the world are banking on clean energy being a big winner overall and bringing home the bacon.The trick is to spread the risk so wins eclipse the losses.

It is complete idiocy to compare Warren Buffet's investment philosophy using private funds to the Obama regime's wanton waste  of funds borrowed on the tax-payers credit card. Big Green Investors around the world are rushing the "clean industry " bandwagon so they can get their snouts in the public trough. Wins and losses apply to race betting and anyone who thinks a Government board will make better investment decisions than the private sector has rocks in his head. If the investment made sense no government funds would be necessary and if it doesn't make sense we shouldn't be doing it. 

The Clean Energy Finance Corporation (CEFC) pledged under the federal government's carbon price package will use $10 billion of carbon price revenue from big polluters as loans for new, clean energy technologies. It will be overseen by an independent board of finance professionals.

The myth here is that this 10 billion is being extracted from the "evil big polluters" ignoring the fact that this 10 billion will actually be passed on to taxpayers and small business. The promoters of the "free" clean energy boondoggle obviously believe there is such a thing as a free lunch, unfortunately not for the average Aussie picking up the tab.

Globally there are plenty of examples where the investment is indeed paying off. Figures from Bloomberg New Energy Finance show that $US243 billion ($A252 billion) was invested in clean energy last year, as the sector continues to outstrip traditional energy. Some of the world's biggest players are seeing the value in clean energy investments, including Google, GE, the US military, Samsung and engineering giant Siemens. GE's Ecomagination program made more than $80 billion for the company over the past five years by combining good business and sustainability.
For "clean energy investment" substitute " obtaining funds from gullible governments"  and this would be more accurate.
These green carpetbaggers are all over this 10 billion like blowflies at a Government funded picnic.


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