Meanwhile,
a very strange paradox has emerged in the US wind energy market:
The wind energy market is stuck in this very strange paradox right now. We have the best long-term climate policy certainty ever, across all the largest markets, but we’re struggling through a period where the whole industry, particularly the supply chain, has been hit by issues that have culminated in destroying profit margins and running many of the top OEMs [original equipment manufacturers] and their component vendors into negative profitability territory.
Negative profitability territory is a more politically correct designation for the billion-dollar losses that the US wind power giants have been suffering for several years, despite the political importance of the climate change agenda and generous government subsidies in the campaign to eliminate dependence on fossil fuels.
What I’m seeing is a colossal market failure.
Against the backdrop of growing economic problems in the United States, this green environmental movement is becoming more and more like a large-scale scam to develop budget funds for an initially economically unviable idea.
Share your opinion on this matter.
Isn't this kind of expected? Heard that it would take the US around a couple trillion dollars to convert every coal power plant into sustainable renewable energy sources (didn't say if it was strictly wind but it for sure doesn't) but after four years of negative profit they're bound to make x5 of that money they made. And while 5 years is definitely a massive risk to take isn't that like a better option to take than say, sticking with the current paradigm and inadvertently causing the planet's destruction?
Like at this point what does it matter if they lose money in the short-term, they're already billionaire conglomerates anyway, and if they can't make that much money to start off the journey there's always the top 10 richest people to support this, at this point I don't even care if they monopolize the renewable energy source industry, as long as it ensures that we're actually looking at a future that is not polluted I'll take those odds.