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Wind Power Subsidy Cuts Kill Thousands of Green Jobs: Siemens Sacks 6,000 Workers

“One justification put up by the wind industry for the social and economic chaos caused by spiralling power costs was the claim that investment in wind power would create a “new” economy with millions of groovy “green” jobs.

True it was that Germany saw an increase in renewables related employment – the bulk of it in the development and manufacture of solar panels – but all of it was built on a raft of taxpayer and power consumer subsidies: it was – therefore – unsustainable.

Any job that relies on a subsidy results in a loss of employment elsewhere in the economy. In Germany, the subsidies for “green” jobs are paid for in rocketing power prices, which impacts on the profitability and competitiveness of all businesses and industries.” – STT August 2014

THE writings been on the wall for sometime now. Green central planning like economic planning of failed socialist regimes gone by is doomed for failure. Market distorting policies to pick winners only works until the money runs out. And err..the (public’s) money ran out a while back.

STOP THESE THINGS

The wind industry is little more than the most recent and elaborate effort to fleece gullible investors, in a list that dates back to “corporate investment classics”, like the South-Sea Bubble and Dutch tulip mania.

In the wind industry, the scam is all about pitching bogus projected returns (based on overblown wind “forecasts”) (see our posts here and here and here and here); claiming that wind turbines will run for 25 years, without the need for so much as an oil change (see our posts here and here and here); and telling investors that massive government mandated subsidy schemes will outlast religion (see our posts here and here and here).

Now that the subsidies are drying up across Europe, solar panel and wind turbine makers are feeling the pinch, with tens of thousands of those groovy ‘green’ jobs already gone, or about to face the axe.

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