Guest essay by Mary Kay Barton
If you watch much mainstream TV, you’ve probably seen Siemens’ new multi-million-dollar advertising blitz to sell the American public on industrial wind. Why the sudden ad onslaught? Watch the video below.
The wind business abroad has taken a huge hit of late. European countries have begun slashing renewable mandates, due to the ever-broadening realization that renewables cost far more than industrial wind proponents have led people to believe: economically, environmentally, technically, and civilly.
Siemens’ energy business took a €48m hit in the second quarter due to a bearings issue with onshore turbines, and a €23m charge due to ongoing offshore grid issues in Germany – on top of subsidy and feed-in tariff cutbacks, recent articles have pointed out.
As Siemens’ tax-sheltering market dries up…
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