12/22/2011 1 Comment
Benny Peiser at the The Climate Policy Network has some details this morning on the growing green economic crisis.
Solar Millennium became the second German solar company to file for insolvency in December, following module maker Solon, as the company could not find partners for large projects in the United States and Spain. —Reuters, 21 December 2011
Since the end of last year, roughly 5,000 companies involved in the solar business have shut up shop, shedding about 20,000 jobs, according to German solar industry group BSW. –Reuters, 14 December 2011
The cycle of solar investments followed by solar bankruptcies dates back to the 1970s, and shows little sign of letting up during these “green” years. Despite the fervent wishes of ardent greens, a half-century of R&D has failed to turn solar power into a profitable enterprise. “The energy of the future” they call it. It is, and it always will be. –Walter Russell Mead, Via Meadia, 21 December 2011
Europe’s main weapon in the battle against climate change is now fighting for its own survival. “Without intervention not only the Emissions Trading Scheme is over, but Europe’s climate policy is over. It will put Europe back into the dark ages.” –Gabriele Steinhauser, Associated Press, 20 December 2011
One has to ask the question, with all this evidence that going green and developing alternative energy is a failure in Europe, why is California continuing to accelerate down the same road which ends at cliff on the edge of an economic sinkhole? Why?