The sack of rotting oatmeal installed in the Oval Office ran his mouth about eliminating fossil fuels.
Not so fast, Chump. MishTalk reports:
After months of warnings about rising prices and logistical hiccups, developers and would-be buyers of wind power are scrapping contracts, putting off projects and postponing investment decisions. The setbacks are piling up for both onshore and offshore projects --WSJ quoted at Mishtalk
This despite the Umpty-Billions Biden and the Democrat Horde spent on "renewable energy" calling it "inflation reduction." (They lie with the titles, too!)
There are reasons!
The price of steel and other materials rose at the same time that European countries accelerated plans for offshore wind.
Interest-rate increases made borrowing more expensive.
Larger machines are running into problems with wear and tear.
“We have problems both offshore and onshore,” said Tim Proll-Gerwe, spokesman with Siemens Energy. The company, which had previously said quality issues related to its subsidiary’s flagship onshore turbines could cost up to $1.1 billion to fix, on Monday raised that estimate to about $1.75 billion.
Blade supplier TPI Composites issued a profit warning last month that it was seeing higher inspection and repair costs.
And--of course--the lies and gross exaggerations of "power generation" are being exposed. Wind power is a tax-scam for utilities, and a bonanza for utility investors who are guaranteed a return-on-investment. So "investing" bazillions into windmills is good!
Unless you have to pay the jacked-up rates or pray for a breeze so you can use your electric stove.
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