Bloomberg: China's Green Energy Strategy Awash in Red Ink

While googling for the article suggested in the subject line, I ran across this little gem, at the CanadaFreePress.com [how did I ever miss it]: green energy is awash in red ink. 

The “green industry” with its faux “green jobs,” pushed by United Nations globalists have scared billions of people that global warming is real, and it is the result of human activity, is a multi-trillion dollar profitable hoax.

“Green jobs” were being promised all over Europe when Spanish voters swept into power the Socialist party in 2004. More entitlements and withdrawal from the war in the Middle East were the icing on the cake. The Socialists presided initially over a period of sustained economic growth. Today [published back in 2011] Spain has 5 million unemployed, a huge public debt, and the “indignados” (the indignants) who are a small and disruptive minoritarios.

And this week, from the Bloomberg article, BloombergBusinessweek, November 26, 2012, p. 61:

So what's China gotten for its [green energy] money so far? Clean power, and plenty of it. The country now has the capacity to generate 6.2 gigawatts of solar power and 68.3 gigawatts of wind, enough to replace the equivalent of about 50 coal-fired power plants.

By comparison, the US has 5.7 gigawatts of installed solar capacity and 51.6 gigawatts of wind power, according to trade association and government figures.

The downside is that China's $30 billion solar power industry is overbuilt and heavily in debt. Analysts say even billions of dollars in new government loans may not be able to pull it out of the hole.

Others are saying that, not me.

No additional comments needed. Except I liked the "faux" above.

And so it goes.