People are waking up to the con job the green taliban have pulled regarding “green energy”.
Is the love affair between Silicon Valley and green energy coming to a close? The Wall Street Journal reports that Silicon Valley venture capitalists are learning what the rest of us have known for some time: most green energy projects simply aren’t profitable. A recent survey of venture capitalists suggests that these investors are preparing to pull their money out of green ventures in record numbers in 2013 to invest in more traditional enterprises.
This reversal has been catalyzed by a number of embarrassing IPO failures in recent years, especially in companies associated with an investment firm blessed by the participation of Al Gore:
People are waking up all right.
It’s about time. For years, it has been painfully clear that most green energy projects were not ready for prime-time, and major debacles like 2011′s Solyndra collapse are only the most visible examples. Most green investments have been political rather than business investments: the assumption behind them was less that their products were economically viable on their own than that government would provide subsidies or force people to buy what they made. As the global green agenda fell to bits, America’s new energy boom dispelled peak oil fears and the Obama administration threw cap and trade under the bus, the economic prospects for green tech investments steadily dimmed.
Year after year, hundreds of millions of dollars were sunk into ambitious green enterprises, yet the expected return on these investments never quite materializes. Most of the investors in these projects are smart individuals and successful businessmen in their own right, and there’s only so long that they will accept the repeated failure of their investments.