"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

Tuesday, May 29, 2012

Gillard goes where angels fear to tread!

History says that the 10 billion dollar green boondoggle set up by Gillard to finance uneconomic green energy projects is headed for disaster as "clean" energy company stocks hit an all-time low worldwide as indicated by the Renewable Energy Industrial Index  which has lost 90% of it's value since 2008. The market is littered with bankrupt or near-bankrupt green energy companies and Canberra is planning to add a few more with their demonstrated financial incompetence and ten billion of borrowed cash to spread around.

The Hockey Schtick has the story:

The worldwide crash of green energy companies

The RENIXX® (Renewable Energy Industrial Index) World is the first global stock index, which comprises the performance of the world´s 30 largest companies of the renewable energy industry
The RENIXX Index of the 30 largest renewable energy companies in the world is trading at an all-time low today and has lost over 90% of its value since 2008. A partial listing of green energy companies that have already filed bankruptcy or are teetering on the brink is below. Many of these companies were financed by taxpayers.

Filed Bankruptcy:

Beacon Power
Range Fuels
Solar Trust of America
Evergreen Solar
Eastern Energy
Bright Automotive
Olson's Crop Service
Energy Conversion Devices
Mountain Plaza 

Teetering on the Brink:

Abound Solar
A123 Systems
Brightsource Energy
Fisker Automotive
First Solar
Nevada Geothermal
The Bard Group
NRG Energy
Alterra Power
Enel Green Power
Sunpower Corp

1 comment:

  1. No one has ever accused JuLIAR of having any intelligence, or any interest in the electorate which is going to obliterate her and her Labor cronies at the next election.