LETTER TO THE EDITOR
Posted December 30, 2018
Wind Energy Conversion is a Bubble ready to burst. During the space race, the US spent millions to develop an ink pen to be used in space. The soviets used a pencil. Simple? Quite.
Wind Energy Conversion uses massive quantities of pristine, often prime agricultural acreage to produce electricity with about 30% efficiency. Wind Energy Conversion industrial complexes displace other, more desirable economic development alternatives, some, permanently. Nor is Wind Energy Conversion sustainable. Not quite that simple. Nor free.
This global “Big Wind” build-out is the latest financial scheme in a long list of frauds dating back to the tulip mania of 1637. Bigger than the Junk Bond fiasco and the collapse of Drexel Burnham Lambert, and looms larger than the effects from the Dodd-Frank bill, which enabled the housing bubble, and lead to the sub-prime mortgage meltdown, and the financial freeze of 2008. Fannie Mae, and that means ‘You the Taxpayer” ate that one. Wind Energy is a bigger fraud than Enron, or at least a derivative thereof. And I would suggest that you stay away from derivatives as well.
Most if not all government regulations supersede the spontaneous order of “the invisible hand” of free market enterprise in a civil society, presupposing that governmental intrusion will improve upon an open free market. This pattern keeps recurring and no one seems to remember the earlier mistakes made on both sides of “the aisle”.
Using the Wind Energy’s own playbook, their NREL methodology known as “JEDI”, Wind Energy should create economic development, on a macro level. In theory, that’s arguably true. As an example, the parable of the broken window was introduced by a French economist (Frédéric Bastiat) in 1850. As the parable goes, if you break windows, that creates jobs for the guys who fix windows, and causes money to circulate.
On a microeconomic level, for example, let’s say, for example, we host a “Million Man March”. We get a million bottles of Perrier for free. We charge everyone $ 3.00 a bottle. As they enjoy the event, we ask that they “pursue” exchanging their bottle for someone else’s. Each exchange, using this “JEDI” methodology, counts the output of one entrant as an input for another. We have just created $ 21 Million in gross economic impact.
I urge you please stand up for your own best interests. We need to end this destruction in America. We need better economic development than this option, for DeWitt County, and leave a better legacy for our following generations.
Bradley D. Barnes, MBA