A decade after Enron’s meltdown, its legacy dominates the landscape, with government doling out massive subsides and mandates for dysfunctional technologies in the name of climate jihad.
Government is no longer a dispassionate arbiter of truth and keeper of level playing fields, evidently captured by the forces of Enronesque corporate kleptocracy.
The situation goes beyond rent seeking, since it fraudulently promises what it cannot deliver. It’s made possible because cynicism exploits acute gullibility.
With Manichean panache, millions now believe, falsely, that wind technology will lead the hosts of renewable energy as they battle a vulgar empire narcotized and exploited by multinational corporations in thrall to fossil fuels, literally lighting the postmodern world with premodern power.
The subprime derivative scams depended upon arcane Wall Street market knowledge and an uninformed sense of underlying assets. Today, even fewer know electricity production; those who do profit by hiding wind performance “assets” from public scrutiny.
Given the distress caused by the mortgage debacles, why not a call-to-arms about the potential fallout that must flow from subprime wind technology, an additive energy source that can’t produce modern power and has no effective capacity?
Maryland’s bipartisan rush to the bottom for wind in the mountains and offshore, highlighted by a legislative agenda requiring “power” purchase agreements that would substantially raise consumer bills, does Ken Lay proud.
And for a president who in his inaugural address challenged the nation to put away childish things, Mr. Obama’s prattle for wind shows he’s not ready to leave the nursery.
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