Monday, March 19, 2012

Quote of the Day on Emerging Technology

Regarding energy policy.....

"I prefer the "old" approach to emerging technology: We adopt new technology when it is better and cheaper than the old technology, not when it is worse and more expensive, forced to convert over by a government demanding we pay more for less -- so we can reap all these speculative benefits in a hypothetical future."

~ Ace of Spades HQ

8 Comments:

At 3/19/2012 3:45 PM, Blogger Jon Murphy said...

Personally, I like this new idea. I love how, for every dollar we invest into alternative energy, we get $0.60 back. I'm all for sacrifice in the hopes these master plans come to fruition. C'mon, everybody! Let's just tighten our belts, batten down the hatches and pray.

 
At 3/19/2012 4:22 PM, Blogger morganovich said...

jon-

you got 60c back? wow. how did you do that?

 
At 3/19/2012 4:32 PM, Blogger morganovich said...

here's a real honey:

In September 2011, Ex-Im approved $455.7 million in loan guarantees to subsidize the sale of solar panels to two wind farms in Canada. That means if the wind farm ever defaults, the taxpayers pick up the tab, ensuring First Solar gets paid.

But the buyer, in this case, was First Solar.

A small corporation called St. Clair Solar owned the wind farm and was the Canadian company buying First Solar's panels. But St. Clair Solar was a wholly owned subsidiary of First Solar. So, basically, First Solar was shipping its own solar panels from Ohio to a solar farm it owned in Canada, and the U.S. taxpayers were subsidizing this "export.

http://campaign2012.washingtonexaminer.com/article/firm-sells-solar-panels-itself-taxpayers-pay/434251

fslr has been a darling of short sellers (including me) for ages.

this is a great example of why.

circular revenue flow is common in frauds, but having a federal guarantee on it was a new one for me.

 
At 3/19/2012 4:50 PM, Blogger Paul said...

Glad to see Dr Perry linking the superb Ace of Spades!

Over the weekend, Obama attacked the GOP: "They can either place their bets on a fossil fuel from the last century or they can place their bets on America's future.

I wish somebody would ask this idiot if he's been "betting" any of his own money on losers like Solyndra, Ener1, Fisker, etc.

 
At 3/19/2012 5:17 PM, Blogger Larry G said...

Manufacturing in general has some doubters:

" Economists offer more pessimistic view on manufacturing in upcoming report"

http://goo.gl/YLVlZ

 
At 3/19/2012 5:34 PM, Blogger Jon Murphy said...

Morganovhich-

I got $.60 back because my best girl friend who is not my girlfriend is Sen. Scott Brown's appointment secretary.

 
At 3/19/2012 7:45 PM, Blogger kmg said...

Not only do I agree with the quote to a table-pounding degree....

...I would argue that government meddling cannot stop the way that technology gets adopted, which will always be the natural way.

Obama funded Solyndra and a dozen other forms of green pork? Guess what? The shale gale happened at the same time, and the solar/wind/algae future is pushed out even further.

And I will be the first to adopt solar/wind/algae when they are competitive in the free market.

 
At 3/20/2012 9:14 AM, Blogger Junkyard_hawg1985 said...

Dang it Morganovich!

I read your link to the First Solar article and now I'm mad.

 

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