How Green Energy Really Works

The vaporization of $29 billion of liabilities ($230 million of which was owed to the US Taxpayer) amid Abengoa's bankruptcy (Spain's 'Solyndra'), it worth reminding the world's greater fools just how "green" energy really works.Green Energy Boondoggle

"Businesses that cannot possibly survive without subsidies are ipso facto not economically viable. In spite of all the high-minded pronouncements about the “need to save the planet” and how this valiant effort can allegedly be “combined with economic growth”, their existence serves primarily one function: to distribute money looted from taxpayers and consumers to assorted cronies of the political class, who in turn provide the latter with kickbacks.That is all there is to it."

This Spanish company has declared bankruptcy and thus reneged on all it's commitments from debt repayment to generating plant construction and operation. What happens to Sun Edison's contract with Georgetown when the subsidies stop and interest rates increase? Notice how the American banks are involved in the debt financing of Abengoa and how the U.S. Government provided loans and grants which are now noncollectable. 

Remember, this is a giant wealth transfer scheme to transfer wealth from taxpayers and ratepayers to crony capitalists, including those overseas. Georgetown's wind energy provider, EDF Renewables parent company is headquartered in France.