rising costs are making offshore wind projects so expensive that ‘it doesn’t make sense to continue’Well you could have see this coming a mile away, if you had your eyes open that is. The
Great Ethanol Revolution taught us that a renewable energy source, exploited by mountains of oil and coal, simply goes up in price as the underlying oil and coal goes up in price.
July 23, 2023
Offshore wind projects are facing an economic crisis that erased billions of US dollars in planned spending this week — just as the world needs clean energy more than ever.
A unit of Spain’s Iberdrola SA agreed to cancel a contract to sell power from a planned wind farm off the coast of Massachusetts. Danish developer Orsted A/S lost a bid to provide offshore wind power to Rhode Island, whose main utility said rising costs made the proposal too expensive. Swedish state-owned utility Vattenfall AB scuttled plans for a wind farm off the coast of Britain, citing inflation.
Together, the three affected projects would have provided 3.5 gigawatts of power — more than 11% of the total offshore wind fleet currently deployed in the waters of the US and Europe. And the numbers could soon expand. At least 9.7 gigawatts of US projects are at risk because their developers want to renegotiate or exit contracts to sell power at prices that they say are now too low to make the investments worth it
https://fortune.com/2023/07/22/offshore ... rgy-needs/Another dream scuttled on the reefs of reality. When are people going to wake up to the fact that you can't get something for nothing. Wake up to the fact that
All the progress we have made in past 200 years was made on the back of cheap coal and oil. I'm not talking about the companies and politicians engaged in this waste of resources, they have done very well, mission accomplished. No I'm talking about the armchair scientists who sit in front of the TV digesting this drivel and then go out and proclaim to the world how we're on the track for a bright green future.
There is a conceited world view held by the average uneducated TV watcher that we have arrived where we are in history because of technology alone, because we humans are so smart, we can solve anything. Well this world view will not outlive the vast stores of oil coal and gas the Earth was endowed with I assure you of that.