December 11, 2012 By

Green Energy, Red Ink

The defenders of clean green energy “investment” (which I put in scare quotes because when a liberal says “investment,” he means “taxpayer subsidy”) say we should look past Solyndra, A123, and other bankruptcies because it is normal for there to be failures in an infant industry.  But the Washington Times reported last Thursday that the RENIXX index–the specialty index for renewable energy companies (it stands for the Renewable Energy Industrial Index)–has declined over 90 percent from its peak in 2007.  See the figure above.  Looks like Romney understated things when he said Obama “picks the losers.”  Many investors have too.

The only truly “green” job is one in an industry that makes its green the old-fashioned way: through a real profit.

Hat tip: Glenn Reynolds, Instapundit.  Glenn points us to this very useful Business Insider slide show.

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Steven Hayward

About Steven Hayward

Steven Hayward is resident scholar at the American Enterprise Institute and writes on a wide range of public policy issues. Visit Steve’s blog and follow him on Twitter @stevenfhayward.

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 (2 comments so far)

The fossil fuel industry has been holding green, clean, “free” energy hostage for over 100 years. JP Morgan withdrew funding from Nikola Tesla when he learned Tesla wanted to give energy away, while he (Morgan) was invested in oil. The best ideas are not being funded yet, wind/solar is a joke and just a shadow of what’s possible using resonant and regenerative system. The science has already come a long way, the question is when will the powers-that-be allow humanity to operate without a tether to gas pumps and metered energy. Energy (or lack of it) is the real reason why wars are fought. In a world of universally recognized abundance, you would need to find something more petty to scrap about.

December 12, 2012 at 8:21 pm

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Definitely polluting and burning fossil fuels is more profitable, and this is what it is all about — profit. We don't care about future generations, and we are unwilling to invest OUR hard earned cash for a cleaner environment. I had to take care of myself, let future generations fend for themselves. Who cares about Global Warming? I don't. I care about me! I think profit is all we should think about. Green Energy may take many years of losses before it begins to pay off. That means many years of MY money for future generations. I already paid my kids college, that is enough. Fracking is a much better investment than Solar energy. It is cheaper, more profitable, yields more energy for everyone, and is only damaging to health, environment, and property values of the people who live in the area. If those people don't like it, they should move. It is all about personal responsibility. Would you rather get cancer, or burn down your house and leave? These people have a choice.

Just because a small percentage population are going to suffer serious health issues, doesn't give them the right to make me invest in Green energy.

I believe in personal responsibility. I have the right to invest in Fracking and make a profit, and they have to right to leave.

Keep up the good work, and keep writing articles to inform the population about how unprofitable it is to care about future generations.

December 12, 2012 at 3:25 pm

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