“Green” Billionaires Stand to Benefit from Expensive Renewable Energy

“Green” Billionaires Stand to Benefit from Expensive Renewable Energy

The corrupt “green” movement has been used as a means to advance the agenda of the businesses and politicians that have aligned themselves with a false crusade for expensive renewable energy. No one exemplifies this like the Sierra club, who has a serious conflict of interest due to the fact that many of its board members have financially benefited from being matriarchs in renewable energy.

The billionaires club has united with the Sierra Club and the green movement at large to scam millions of Americans out of their hard earned income while they enrich themselves in huge profits. One such example is David Gelbaum, who has $500 million dollars invested in more than 400 “green” energy companies, every single one of whom benefit from the Sierra Club’s war on fossil fuels. With his $100 million dollar donation, he has used the Sierra Club as a tool to villianize his competition and in effect force businesses and homeowners into a quid-pro-quo for themselves and their cronies.

Cape Wind is a project that was engineered to erect 130 wind turbines across 24 square miles. Developing this project is Energy Management Incorporated, a 35 year old energy company specializing in conservation and development. These turbines would generate 170 megawatts which is only 75 percent of the average demand for electricity in the region. Additionally, developers planned to sell a large majority of 77 percent of the the wind power they would produce to N-Star and national Grid for double the market value, who would then pass on the higher rates to consumers.

After failing to obtain all the private financing necessary to complete the project, Cape Wind resorted to securing $150 million dollars worth of loan guarantees from the United States Department of Energy. Strikingly, this only amounts to six percent of the total cost of the project, which is slated to cost $2.5 billion dollars. Most often this security only comes before investors pour their cash into a project, but even in this circumstance, investors couldn’t stomach. Both investors, and the two electric utilities that had contracted to buy most of the energy it would have generated, abandoned the project

The American Research Institute indicates that there are hidden costs in supplying wind power, because of the cost associated with keeping available the plants that balance wind’s variations, even though adding wind to the system greatly reduces the quality of generation for which they are paid. Another factor in these hidden costs are the higher fuel consumption per unit of output that wind demands on these plants, and the cost of additional long-distance transmission that wind requires and the losses that come with those transmissions.

One thing is clear as day: The corrupt “green” energy industry cares more about profits than protecting other environmental areas. Save Our Sound, a group that opposes the Cape Wind project, says that “In addition to the 40,000 gallons of unspecified transformer oil on the proposed 10 story electrical service platform, the Cape Wind project would contain an additional 24,700 gallons of oil in the 130 turbines.” What could potentially happen to the beaches and inlets if the tanks on the Energy Service Platforms were to rupture, or if there was a vessel collusion, causing oil to spill? According to Save Our Sound, Cape Wind’s own computer simulation of a spill reveals that oil would reach Cape Cod and Island beaches within five hours.

Many residents are concerned that wildlife could be adversely effected if there is an oil spill, with as many as six million birds migrating through the area in the spring and fall. Typically, birds fly at heights above the turbine blades, but in adverse weather when low cloud ceiling causes the birds to fly at altitudes the same as the wind turbines, creating the potential for the catastrophic killing of migrating birds.

So it is clear: The wealthy and powerful are fighting for a cause that embodies cronyism like nothing other. People are struggling in this economy, and these crooks want to double or triple the cost of energy, while they pump their millions of dollars into the Sierra Club to destroy other sources of marketable, cheaper energy. They don’t let the environmental realities get in their way, they don’t allow human welfare to concern them, much less the birds that are endangered due to their destructive policies. People in communities all across America are seeing this scam for what it is, and that is a good thing for all of us.