Monday, December 14, 2009

Green Energy, as Brought to You by Crony Capitalism

Writing in NYT, Doreen Carvagal raises the alarm about how the "freewheeling approach of the fast-evolving energy industry is luring a rogue’s gallery of corrupt politicians and entrepreneurs trying to literally create money out of thin air." Furthermore, Andrew Campanelli, a forensics investigator for Deloitte Financial Advisory Services in New York, states: “In a down economy, individuals might be more inclined to need more cash. They might look at green energy as a mechanism to use ill-gotten funds.”

Eco-warrior Ashok Subron and crusader Jack Bizlall have time and again exposed the shady character of similar accords with hardly any echo elsewhere - with the notable exception of Mauritius Times, Nicholas Rainer and few others. We are being sold scaremongering for instant gratification. No wonder fiscal incentives on electric cars, photovoltaics and so on are so mired in trivialities and no coherent strategy is on offer. In contrast, interests in ethanol production and wind farms are glaring examples of eco-bandwagonning where we might well end up paying, yet again, a higher price dictated by rent seekers.

1 comment:

  1. From what I've heard, ethanol from the sugar estates are being exported by tonnes but not used locally due to a Vinasse problem, a by-product of the ethanol production chain which is a pollutant. However, I think there is a power game going on between those who control & produce the ethanol and those who don't like those who control the ethanol to control it.



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