Posted on 01/23/2015 10:42:31 AM PST by woodbutcher1963
An ambitious and controversial push to erect America's first offshore wind farm has been dealt what some call a potentially "fatal" blow after two utility companies pulled out of commitments to buy energy from the lagging operation.
The $2.6 billion Cape Wind project, a private operation benefiting from millions in federal subsidies, is attempting to pioneer offshore wind energy in pursuit of an eco-friendly, sustainable energy supply. Wind turbines would be installed off the coast of Massachusetts' Cape Cod in Nantucket Sound.
But Cape Wind is now in limbo after utility companies terminated huge purchase agreements. They pulled out after the project failed to meet two requirements by Dec. 31: to secure financing and begin construction.
The wind farm was relying on NSTAR and National Grid to purchase a combined 77.5 percent of its offshore wind power.
(Excerpt) Read more at foxnews.com ...
Pipe dream encountered real business rules.
Behind schedule, unable to find construction financing and unable to find customers for its remaining power. Yep. Sounds like another government boondoggle bites the dust.
So the project that was vigorously opposed by “The Kennedys” got scrapped. Currupt Ted Kennedy fought this tooth and nail until he assumed room temp. It would have ruined their “view”. Looks like tha bastards finally won and the public gets screwed...again. Sad.
But-but-but I had thought the last obstacle to the construction of this “wind farm”, perished with the passing of Ted Kennedy.
You mean ECONOMICS had some bearing on the viability of the project? I thought that factor had nothing to do with the headlong rush to saddle this entire nation with unreliable, spotty and highly expensive energy sources.
Well, even without this, they can still work on unreliable, spotty and excessively expensive power sources.
“Sounds like another government boondoggle bites the dust.”
However, I’m certain that performance bonuses will still be paid, and BILLIONS of taxpayer dollars have already been funneled to off-shore accounts belonging to the DNC!
Grrrrrrr!
That makes it at best a semi-private operation.
Gone with the wind.
Gone with the wind.
and ends on my not giving a damn for these projects.
I am of the opinion that the $2 Billion would have been better off improving coal to liquids technology.
Wind power has got one BIG problem: there’s no practical way to store it up, and no guarantee the wind won’t stop blowing just when you need electricity.
Electric power generation capacity is defined by the amount of power that can be delivered at any time it’s needed, night or day. Wind power by definition has a “capacity” of ZERO, since that is the amount you can be absolutely certain of getting at any given time.
As a result, any wind power project has to be backed-up by a conventional power source of equal capability, thus more than doubling the costs.
I am thinking that many would be better spent in bringing a natural gas pipeline to the power plants.
I believe this was canceled because even with the huge government subsidies they still can not produce electricity as cheap as natural gas, coal, nuclear or wild chipmunks on a wheel.
money NOT many
Ha...they must have read the report from UK....where off shore windmills are fed with power to stop them from freezing in sub arctic temperatures......a net drain on the electricity grid.....(winds being too strong to allow them to function)
/bingo
Offshore winds are on average about 8 times more energetic, and yet a project that just happens to have been fought tooth and nail by the reprehensible Kennedy family is the one that loses out on funding? Gosh, what a puzzle.
That's the name of the game-Federal subsidies.
Get Federal subsidies and if you can't figure out a way to turn that into a big financial gain for yourself and your friends , you are pretty dumb.- Tom
well they could be used to keep low flying planes from attacking our coastline. put laser beams on them.
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