It is always a mistake when governments try to create markets they believe should exist, and using tax payers money the politicians create businesses that are not economically viable without huge tax payer funded subsidies. Usually launched amid a fanfare of this stimulus will create trillions of jobs, earn gazillions in export revenues for the country and create a whole new economy, these white elephants of crony capitalism burn bright all too briefly, before crashing hard and terminally.
The Green Dream of the low carbon economy has proved once again that governments cannot create markets for which commercial reality does not exist, the US House of Representatives in a report on global green jobs concluded that there were no such things as lasting Green jobs.
Green investments have proved just as useless, shares in wind turbine manufacturer Vestas in 2008 cost 698 Danish Kroner, today they are worth just 35 kroner, a fall of 95%. Read the rest of this entry