Renewable Energy Investments Crash And Burn
The future according to the warmists is Green low carbon intermittent renewable energy, industry and private venture capital is according to the Green meme, rushing to invest in what Obama’s regime calls CleanTech.
There was an initial boom in renewables, the huge sums on offer for Green subsidy for wind and solar ensured this would always be the case, however, as the AGW band wagon has lost its wheels and governments across the planet have cut subsidies so renewable energy and electic cars have turned into a bottomless Green money pit.
Mind you things must be bad in Green Investment La La land when Al Gores investments have no Green stocks and shares, but Al does have an investment in a natural gas pipeline company:
When Al Gore talks, people listen. Just ask the folks who hand out Academy Awards and Nobel Peace Prizes.
Al Gore also talks to investors. Since 2007, the former Vice President in Bill Clinton’s administration has been preaching the benefits of putting your money where his mouth is: Alternative energy.
But if Al Gore has any message for investors today, it might very well be this: “Stay the hell away from alternative energy!”
Not that he would say so. At least out loud.
Gore in common with all the other players in the Great Man Made Global Warming scam, have always said one thing, and done another, they cannot help themselves hypocrisy is in their DNA.
And if you want a piece of the natural gas pipeline game — heavily dependent on the environmentally suspect fracking — you can find that in Gore’s portfolio as well with Quanta Services (PWR).
Gore and the natural gas pipeline makes for an interesting conflict of interest given that Gore is about to launch the Dirty Weather report which alleges that fossil fuels cause extreme weather events, way to go Al!
The state of Green investment market must be pretty dire when the Guardian is warming of the perils of ethical portfolios in an article entitled Wind and solar: the ethical investments to avoid:
Renewable energy is the future, say environmentalists. But for green and ethical investors it has turned into a nightmare, with makers of wind and solar power systems among the worst-performing stocks in recent years.
Take Vestas, the Danish wind turbine maker. Early investors enjoyed sparkling returns, with shares leaping from 34 Danish kroner in 2003 to 698 in 2008 – a 20-fold rise. But since then, beset by the loss of government subsidies, cost overruns, production delays and competition from China, the price has collapsed. Today it is trading at 35 kroner – so someone investing in 2008 will have lost nearly 95% of their money.
The same holds true for investments in Electric Vehicles (EV) and the batteries that EVs need, global lack of consumer demand for EVs has seen this Green technology lose billions of dollars.
Funds that specialise in renewable energy have fallen a long way short of expectations. Impax Environmental, an investment trust, has lost 20% over the past five years, while BlackRock New Energy investment trust has done even worse, falling 49.9% since 2007. It’s a salutary reminder to avoid investment fads and bubbles.
Sound financial advice to avoid fads like “Green” and false prosperity bubbles caused by Green subsidy, still rest assured Britain’s Green Party are still firmly behind fads and bubbles as they want the toothless Green Investment Bank to start investing in the Green renewable money pit:
The concept for the world’s first GIB was developed by the business and NGO alliance, Transform UK, and introduced by Alistair Darling in his final budget– before being carried through by the coalition.
The GIB has huge potential to leverage in a hefty proportion of the private sector investment needed for the UK’s low carbon economy to flourish. But, as I highlighted in 2011, there are serious doubts as to whether the GIB will a) be a real bank, and b) be green.
The main concern is that the Treasury is ideologically opposed to a fully operational GIB, and given George Osborne’s hostility to the idea that there is a green route out of recession, it’s clear the battle won’t be easily won.
So to summarise the Greens want a bank conceived of by the last Labour Chancellor of the Exchequer who left office with Britain bankrupt after 13 years of Gordon Browns fiscal prudence, a bank to invest money in industries that are not economically viable without huge tax payer funded Green subsidies, and this will provide a sound economic future for Britain and a way out of recession.