The Biden economy has meant most of us are taking a beating but that group includes Big Wind. Inflation makes everything cost more, as does demand, and false demand for wind energy coupled with other factors have made the business anything but profitable.
Siemens Gamesa [the Spanish renewable spin-off of German parent Siemens Energy] plans to cut about 4,100 jobs from its wind turbine division as the company continues to restructure its business. The downsizing, reported May 28 by Reuters, impacts about 15% of the company’s workforce. The news service said the layoffs were noted in an internal letter to staff from CEO Jochen Eickholt. The cuts were expected after the company reported a €4.6 billion ($4.9 billion) loss in 2023, triggered by the suspension of sales for two wind turbine models.
Rising costs have resulted in a growing number of canceled developments, as the price guarantees required to lower the cost of energy are impossible for even Democratic governors to sign off on. Without the bailouts, handouts, and prop-ups, the industry is struggling.
Energy Giants Shell PLc and Siemens Gamesa Slash Wind Sector: Is Wind Power Failing?
Recently, two large energy companies, Shell Plc and Siemens Gamesa, are making huge cuts to their #OSW sector business. Could it be that they realize their return on investment from #OSW is just… pic.twitter.com/kFdxaNu7yq— SaveLBI (@saveLBIorg) May 30, 2024
Don’t think for two seconds that Biden and his little Green henchmen don’t realize the tax credits and subsidy losses are killing the grift. These renewables simply, as the Warren Buffet quote above makes clear and anyone in CA knows, cannot exist in a free market state. They cannot stand on their own. They have to have the government propping them up, basically forever.
So that’s what Biden’s proposing and for a wide swath of his climate cult friends. Every little pig to the trough!
Locally, you’ll have likely heard that New Hampshire has an offshore wind commission to prop up Dave ‘Whale Killer’ Watters’s green dreams. The project is truly a three-state boondoggle, including Massachusetts and Maine. The NH Commies have been meeting for years, but there’s been very little public-facing evidence, and more people who should know about it don’t than do. Recent meetings to fast-track this scam before Biden is de-selected as president hope to tap into and seal a deal on more taxpayer money.
I’m not sure your great-grandchildren will appreciate the additional debt and interest you’ll have heaped upon them for no good reason, especially since there’s s a rumor we’re chasing that while the cables will be onshored in Seabrook, New Hampshire, Granite Staters might not be getting any of the power.
It makes you wonder why we’ve got a commission. If this is like Northern Pass, you’d expect them to want to keep it as quiet as possible. Piss off the fisherman, lobsterman, and everyone else who is against it – and as they learn in the last day’s efforts to seal the deal (at the expense of the seals, perhaps), it would be inconvenient to learn we get nothing out of it.
I assume it can be built, and given everything else I’ve written, there’s no guarantee, so assume it will and act like you’d rather it not.
Meeting times and dates are available here – the next one is Monday. If you cna go, get us some video or sound, please. They won’t want to let you take, and they won’t want to answer our questions, but that’s good content if you can get it.
