Green Energy Bubble Bursting Already
A slackening in the growth rate of fossil fuel consumption gave comfort to environmentalists in 2008, as recession began to grip global economies. But, in most respects, this year was awful for the green bandwagon, which came to a halt as debt and equity finance dried up.
Clean energy stocks crashed by two thirds. The chart of the WilderHill New Energy Global Innovation index resembles the Nasdaq Technology index in 2000.
The quality of management for projects has come into question, with analysts saying enthusiasm for a good cause has been getting in the way of operational efficiency.
Operational efficiency is hardly the strong suit of “green energy” proponents. They rely on hype, panic, and government coercion. Their main hope now is that Obama will impose draconian restrictions on efficient energy production. If a recession provides them with “comfort,” the depression the Moonbat Messiah may cause in the name of the polar bears ought to put them in a state of pure bliss.