LETTER TO THE EDITOR
Posted October 29, 2018
I support truly renewable, safe “clean energy solutions" to replace our aging and rapidly closing power stations. However, the current and rapid build out of Wind Turbines from Sea to Shining Sea is destroying our Beautiful Country. All subsidized by our tax dollars. We're getting destroyed from within. This is absurd.
For those few creative financial types out there, fresh out of a minimum security prison after that nasty Enron deal went south, here's the playbook behind this Wind scam. The production tax credit (PTC) or the investment tax credit (ITC) Then the fun starts. Securitization is the process by which contracts such as leases and loans are pooled and processed into financial securities which are then sold to investors. This will be substantially similar to the sub-prime mortgage meltdown.
Just to add a bit more ‘profit’ to this byzantine pyramid, renewable energy credits are traded like Al Gore’s “Carbon Credits” Typically, all of this will be bundled and find it's way into our retirement accounts. Then, poof, it's gone. We got suckered. Didn't read the fine print, did we? Thought it was free and easy. Well, things are never quite that simple. We will reap the whirlwind, from this complex capital structuring scheme. I'm not making this up. But they seem to be. Sounds like Enron.
After massive foundations are implanted (forever) and Offshore scaled Turbines are obsolete in a decade or so, a new "disruptive" or innovative breakthrough technology will certainly emerge, and more quickly than imagined. I agree we need sustainable, clean carbon free and renewable energy. These Wind Farms are not farms; they are industrial pirates, threatening our National Security.
It is simply stunning to see how this sector is being 'securitized'.
Current 'renewable energy sources' have so many negatives, it is impossible to arguably defend their deployment. With such huge global impacts to our environment, critically important wildlife, public health, safety and welfare, property values, and the myriad of negatives all of us against these things are very well aware of, the "Environmental Lobbies" aren't doing their jobs anymore. They've been bought out apparently.
This isn't a Zero Carbon deal. We know that. Surely you know a good deal from a bad one, but Wind Farms off both coasts, Long Island, Block Island and all over the Heartland? Come on. This is looting the U.S. Treasury. If we don't stop Wind Energy Conversion, the only survivor that will utilize this energy will be artificial intelligence.
Bradley D. Barnes, MBA
Clinton, Illinois, 61727