ChiComs Plot to Buy Up US Wind Power Racket
Good thing wind power is unlikely ever to provide a significant percentage of our energy needs. It’s bad enough relying on Muslims and Hugo Chavez for energy, but at least we know that if we could just get the government out of the way, we have plenty of oil we could drill here at home. With wind power, we might find ourselves reliant on our communist Chinese adversaries:
State Grid Corp of China has had talks with U.S. power firm AES Corp about taking a controlling stake in its U.S. wind power business, three sources said, as China’s cash-flush state-owned power companies go on an overseas buying spree.
It wasn’t clear how much State Grid would pay for the assets or how the business would be structured after the sale. Based on analysts’ estimates, the assets could be worth around $1.65 billion.
The deal involves wind power assets with capacity of around 1,100 megawatts (MW) and would give State Grid a roughly 80 percent stake in AES’s U.S. wind power business, sources with direct knowledge of the matter told Reuters.
Since wind power is infamously inefficient, why would the ChiComs invest in it — if not because it is heavily subsidized by US taxpayers? Interest payments on the debt could be only the beginning of the money our rogue government expropriates from us and turns over to a hostile communist regime.
it could be that they are dumping their cash holdings and buying anything that likes like a marginal bargain just to protect the value of all that money against inflation that is surely coming.
This is good news. Sell them every wind mill in the country and then revoke the subsidies.
Professor
And green energy will remain a bargain for as long as the rat hole remains opened both wide and deep, with our tax dollars chucked into it.
These will be considered soft targets when the s@#$!! hits the fan.
it could be that they are dumping their cash holdings and buying anything that likes like a marginal bargain just to protect the value of all that money against inflation that is surely coming.
Could be that, or they expect the EPA will mandate a much larger percentage of our electricity be wind-generated. They’re hedging their bets, either way.
On that note, does anyone know if a Soros-controlled hedge fund is involved in these deals?