Posted on 06/23/2023 8:19:10 AM PDT by PGR88
Siemens Energy shares plunged on Friday after the company scrapped its profit forecast and warned that costly problems at its wind turbine unit could last for years.
Shares were last seen down 36% during afternoon deals in London.
The company, born from the spinoff of the former gas and power division of German conglomerate Siemens, announced late Thursday that a review of issues at subsidiary Siemens Gamesa had found a “substantial increase in failure rates of wind turbine components.”
The Siemens Gamesa board has initiated an “extended technical review” aimed at improving product quality that the parent company said will incur “significantly higher costs” than previously assumed, now estimated to be in excess of 1 billion euros ($1.09 billion).
(Excerpt) Read more at cnbc.com ...
The Green Morons are Morons and don’t live in the real world
What a shame. I would love to read their “review of issues at subsidiary Siemens Gamesa” to see how bad it really is. I believe they flagged a lot more issues than just poor quality, among them are public hatred of the monstrosities, loss of scenic vistas, no viable market without government subsidies, no site remediation plans when they reach end-of-life (20 years at most), and instability or complete collapse of the power grid.
At least, if they were honest, they would examine those problems.
If those windmills don’t spin, Texans are going to sweat.
The shame is how we have to fight tooth and nail on behalf of the obvious. It’s everybody. I think 100% school choice is the answer.
Watch out for the word “SUSTAINABLE” - code for Agenda 21 poverty, famine, and death of the Ungodly Worldwide Totalitarian Government.
You are absolutely right — school choice is the only answer to the problem of indoctrinated, uneducated, non-thinking citizens.
That’s why the communists fight choice so hard.
The “green energy” scheme is much like Stalin’s farm collectivization plan. In both cases:
No thought is given to any possible problems.
And when difficulties arise, ignore them. Full speed ahead, regardless.
The only difference is how critics are handled. With Stalin, you lose your life. With the green energy folks, you just cancelled. You lose your career.
It's one of the answers for sure. It is finally gaining some momentum in states.
I don’t like Siemen’s stocks, they feel sticky
They’re in Eep Sh*t now.
I hate it when my worries and concerns ‘Eeepen’.😂😂😂😂👍
The Bee Gee's said it best: "How Eeep is your love?"
That Gamesa is very lousy Spanish company specializing in “green” energy. Their track record is nothing, but string of failures. Why did Siemens bother to buy it?
Keep in mind that this crap is supposed to replace the energy that had been supplied to Europe from Russia.
LOL!
😂👍
public hatred of the monstrosities, loss of scenic vistas, no viable market without government subsidies, no site remediation plans when they reach end-of-life (20 years at most), and instability or complete collapse of the power grid.
No worries, then....
It occurs to me that--except for monstrosities ruining vistas--everything applies to EVs as well.
“everything applies to EVs as well”
Exactly. Solar, wind and EVs are one giant proposed system that just will not work.
Yup, we spend all of our effort and break our pick on just trying to unwind the lies, errors and omissions. By the time we get to salient points and a plan nobody is listening anymore.
We know where this is going, one day we will suddenly be without to such a degree that people will scream blood murder. Texas in 2021 wasn’t enough, Germany isn’t enough, Denmark isn’t enough, Spain isn’t enough, solar one or whatever they call it isn’t enough. They have successfully glossed over these failures while still having enough conventional back-ups to muddle through; that will eventually end.
Someday society will be faced with cleaning up this mess and the massive expense of rebuilding what has been destroyed block by block. China is watching us be stupid and laughing.
Years ago I saw the rush to folly in coal bed methane. Very few made a success of it and without the subsidies hardly anyone did. At best it was a very expensive flash in the pan. I recommended my company stay out of it; one of the times they listened to my recommendation. Must have been an off day.
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