Monday, April 26, 2010

Cheap Wind Power

On dailykos, Jerome a Paris tells us
Bloomberg has a somewhat confusing article about the newest complaint about wind power, but the gist of it is that wind power is an issue for the industry because it brings their revenues down.....

The key thing here is that we are beginning to unveil what I've labelled the dirty secret of wind: utilities don't like wind not because it's not competitive, but because it brings prices down for their existing assets, thus lowering their revenues and their profits. ....

As I've noted many times, the energy sector is one of the best examples of how the financialisation of the economy has brought results that are bad for everybody except the investment bankers and top management; it's also, thankfully, one where reality can most objectively re-assert itself.