AGH! Oh my God! Head for the hills! The sky is falling! Is it due to global warming? No, there isn’t enough wind! What, you say? Yes that is what I mean, The Financial Times says that the wind energy industry is worried that they maybe in trouble due to a lack of wind capacity. This comes as the White House is pitching for even more renewable energy sources while making the case to enact policies to curb climate change. President Obama is making his sales pitch in the latest victim he can use: Alaska.
We are experiencing some of the softest wind currents in 40 years and it has resulted in reduced wind power generation by 6 percent. Consequently, if the wind companies can’t produce investors from yield-hungry pensioners to Goldman Sachs are going to be mighty upset. Wind power company executives, naturally, are miffed and a meteorological measurement company out of Helsinki named Vaisala states this will most likely get worse since El Niño will hold back wind speeds for most of the United States.
Even the shares of companies that operate and maintain wind farms on behalf of wind power companies (yieldcos) are dropping due to reduced wind quality. It is also unclear when conditions for normal wind conditions will return. President Obama just announced an additional $12 billion in loan guarantees for renewable energy sources (like wind power). Not surprising even though wind power, according to a 2013 Harvard study, is not not effective at providing for our energy needs.
President Obama and environmentalists assured us that renewable energy sources would reduce our dependence on foreign oil and even replace fossil fuel sources. Over time and with experience it has turned out not to be true. If there are to be wind farms built, I think they should be located in Washington DC since a lot of hot air comes from that city. Especially from the White House and the environmentalist group offices located there.