It seems reality is finally forcing the abandonment of the folly of the current crop of "alternative" sources of energy. As I've said here many times, it is a good idea to try and find clean sources of energy to replace oil, gas, and coal. However, the use of lies about the burning of fossil fuels as the cause of global warming and climate change has been stupid from the beginning, because the truth will eventually prevail. The lies have only served to discredit some scientists, science itself and harm what are basically legitimate areas of research. Lies will always come back to bite you.
Of course lies make fools of people like Al Gore, and this should give the millions who supported him at least a little pause for thought. Al Gore doesn't care because he has taken the money and run long ago in a classic scam. Far worse are the billions of dollars of taxpayers money spent to promote the hoax and finance "alternative" sources of energy that are doomed to be economic failures and disaster. The most notable of these failures are solar, wind, ethanol and to a lesser degree, geothermal energy.
Now the people are paying for this huge hoax with lost jobs, increased taxes, a more unstable world, governments hopelessly in debt and an increasingly restive population, as we've just seen in Egypt. Hang on to your hats, it's going to be a bumpy ride.
Global Panic as Green Sector Collapses and Investors Face Ruin
Written by John O'Sullivan
February 11 2011
Governments, investors and even the World Bank are rushing for the exits in the Great Escape from the green energy bubble.
Solar energy appears to be the worst affected sector so far. Dow Jones reports on a startling U-turn by Britain’s ultra-green government has caught investors off guard and shock waves across the markets will likely precipitate the further rush from green energy projects to shale gas.
The UK’s Department of Energy and Climate Change made the shock announcement as it revealed a comprehensive review of its Feed-in Tariff (FIT) program. Indications from data provider, Prequin are that over $1bn in earmarked funds may be lost as Britain now promises it will only hold tariffs until April 2012.
Read rest…here: http://johnosullivan.livejournal.com/30603.html