Spain Kills Renewable Energy Subsidies

This is just the tip of the iceberg, over the last decade they have allowed the state run power companies to accrue massive amounts of debt. They haven't been passing the costs of these programs onto the consumer. In addition to that they have been slashing the once guaranteed feed in tariff's for those that have invested into solar and wind installations. Say it with me class, today's new term is Spanish Energy Bubble.

http://www.bloomberg.com/news/2012-05-2 ... nergy.html

Spanish renewable-energy companies that once got Europe’s biggest subsidies are deserting the nation after the government shut off aid, pushing project developers and equipment-makers to work abroad or perish.

From wind-turbine maker Gamesa Corp. Tecnologica SA (GAM) to solar park developer T-Solar Global SA, companies are locked out of their home market for new business. These are the same suppliers that spearheaded more than $69 billion of wind and solar projects since 2004 that today supply more than 50 percent of Spain’s power demand on the most breezy and sunny days.

Say it with me class, today's new term is Spanish Energy Bubble.

.. and with 50% unemployment for the under 25 year olds and non competitive industry energy costs all linked to a collapsing banking/realty sector - look out. Without tourism/construction there is no GDP to speak of. As Greece and Spain go back to their old currencies and fix to the Euro (assuming there still is a Euro) look out for cheap villas and solar stuff on Ebay.

So when our industrial electric rates start skyrocketing very soon thx to replacing coal energy with daffofils (thx Obummer) we can follow suit. Hey Sam, got it yet?

So stay with me class it's as inevitable as night follows day.

CNB, I got it, understand it & don't believe everything that comes out of FOX. Why don't you just go down to the station & wait for the next steam loco to ship your BS back on. Get over it, it's been coming for decades if you choose to believe it or not, there are cheaper ways to produce electricity, what do you want Gov Caps put back on & more subsidies?
http://www.chron.com/business/steffy/ar ... 578030.php

samhill wrote:CNB, I got it, understand it & don't believe everything that comes out of FOX. Why don't you just go down to the station & wait for the next steam loco to ship your BS back on. Get over it, it's been coming for decades if you choose to believe it or not, there are cheaper ways to produce electricity, what do you want Gov Caps put back on & more subsidies?
http://www.chron.com/business/steffy/ar ... 578030.php

If the World still had Railroad Stations that shipped Less Than Carload Lots and still had Steam Engines. The World would be a much better and more sensible place.

The world still has them in many parts, in the U.S. it was Gov. subsidies that made it cheaper to ship by truck, urban sprawl & everyone wanting to drive their own private gas guzzlers to work instead of jumping on a train. For awhile I was working in Pittsburgh & took the train in & out everyday, it was great IMO the train was totally full but they did away with it. My niece in Conn. used to work in NYC & took the train daily, they still run that at far as I know. It's the cheapest way to move masses or tonnage that I know of but for some reason the U.S. got away from it, you tell me why if you know for sure.
Here's another look at why coal plants are closing, like I said it has been a long time coming they were just trying to milk everything they could.
http://www.analysisgroup.com/uploadedFi ... Retire.pdf

samhill wrote: but for some reason the U.S. got away from it, you tell me why if you know for sure.

Speed is one reason and especially now with on time delivery, if you take Wal Mart for example their rolling truck fleet is basically their warehouse.

Here's another look at why coal plants are closing, like I said it has been a long time coming they were just trying to milk everything they could.

Sam I have no problem with the market dictating what is used to produce electric but the fact is NG is not going to remain cheap. Building a NG power plant now is attractive because it's very cheap fuel and when you heap on the over regulation of coal and the uncertainty of what regualtions are in store for the future what other result do you expect? When the price for NG goes back up in future coal will no be a option because of that over regulation and uncertainty.

Most of the coal plants that will go off line have been marginal plants for a long time & in reality are probably getting past their expected lifespan from when they were built. If there was money being put into newer developments all along then we might not be where we are today. To keep the investors happy they just took everything that they could out & only repaired when they had too, the steel mills worked much the same way except that they used to develop & sell new processes but now they buy them from foreign companies, we got lazy & greedy.

I agree that NG will not remain cheap but it's cheap now & investors want huge profits, that's the bottom line now as it was when the coal fired plants were built. Look at how cheap the nuke plants were going to be, same old story they make their profits now & the little guy pays later. Maybe if all the plants would have stayed independent to some degree it would be a different story but as always they get bought up until the big ones are in control & set price & policy.

Yes, Investors want,"huge," profits. If I put my hard earned money into something, I would want a nice rate of return also. Anybody who puts their money into an enterprise NOT to make money is an idiot. No, but to invest in something for a profit is evil according to the fools who believe that my or anybody else's life force, effort and brains belong to everyone else who has their hand out.
That's why Green Energy is a failure, it will always be a failure and the only people that push it are those who somehow think that your or my life must be sacrificed for the Public Good.
A large part of Spain's economy has been ruined by the wasted foolishness of robbing people of good money and throwing down a Government rat hole under the nebulous promises of magical renewable energy. England has done the same, with the same results. It doesn't make money, it takes much more than it produces, but; it must be done to, "save the Planet."
If Spain can wise up, hopefully we can also.

We just have to look at the results of President crackpot's investments in green energy. Many billions down the rat hole except for his buddies.

It's odd that most of the investors as well as the owners were republicans. They all got into it before Obama.

samhill wrote:It's odd that most of the investors as well as the owners were republicans. They all got into it before Obama.

What they do with their private money is one thing. Investing public money in a business that was known to be not viable is another thing.