One of America's leading authorities on technology and telecom policy, Motley is a writer, television and radio commentator, political and policy strategist, lecturer, debater, activist, and policy advisor to The Heartland Institute.
Latest posts by Seton Motley (see all)
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The ongoing, rolling fact is – “green energy”…is neither green nor energy.
“Green energy” sources – are all demonstrably worse for the environment than the traditional energy sources (like coal and oil) they seek to replace.
So too are solar panels unnatural environmental disasters.
And the alleged energy produced by “green energy” – is a tiny fraction of the energy produced by traditional sources. So the respective costs-per-kilowatt-hour – are ridiculously inefficient.
Which is where the government money enters the picture.
Wind and solar have received hundreds of billions of dollars of government money – in no small part to make up the massive cost difference between these fake energy sources…and actual energy sources.
Companies betting on fake energy – aren’t thinking very long term. Ask energy producers in Europe. Those who bet on fake energy – collapsed in a heap when the EU stopped funding them.
Because if something is a good idea – no government money is necessary. No one needs to subsidize ice cream.
You know what energy source doesn’t need any government money? Because it actually produces energy – at actually affordable prices? Coal.
Unfortunately in Indiana – one company is betting the wrong side of this particular ledger. And like the European companies that did the same – their future isn’t very bright.
Behold poorly-wagering “energy” company Vectren.
“(Vectren) said the (new) solar farm, with an estimated construction cost of $70 million to $75 million, would be operational by 2020.”
Get that? Vectren is closing coal – and attempting to replace it with solar. Other than the fact that this has time and again over half a century failed utterly – it is a fabulous idea.
How many coal plants have been closed in Indiana? Thirty-nine (39). If you’re looking for Barack Obama legacy items – killing actual energy sources is a really good one.
But banning coal – doesn’t make the need for coal go away along with it. Wind and solar – stink on ice. Coal…does not.
“A new analysis conducted by the U.S. Department of Energy’s National Energy Technology Laboratory (NETL) indicates that continued retirement of fossil fuel power plants could have an adverse impact on the nation’s ability to meet power generation needs during future severe weather events.”
Get that? Fake global warming – will allegedly result in more sever weather snaps. With which – without coal – we will be much less able to deal. Oh, the irony.
Vectren’s defense of this titanic stupidity is – they must get into compliance with Obama Administration regulations.
But – with many thanks to our Heavenly Father – Obama is no longer in power (no pun intended). Fan-of-actual-energy Donald Trump is now president.
President Trump – is not a fan of Obama’s regulatory assault on coal (or…any and everything else).
That story – is from February 16, 2017. So why on Earth is Vectren killing coal plants in 2018?
To comply with Obama regulations – Trump killed more than a year ago?
Here’s why: Solar and wind…don’t work. So they need actual-energy-source natural gas as a backup.
It’s why famed oil-and-gas man Boone Pickens spent half a decade pushing his “Pickens Plan”:
“The Pickens Plan is an energy policy proposal announced July 8, 2008, by American businessman T. Boone Pickens. Pickens wants to reduce American dependence on imported oil by investing approximately $US1 trillion in new wind turbine farms for power generation….
“(W)hich he believes would allow the natural gas currently used for power generation to be shifted to fuel CNG trucks and other heavy vehicles.”
$1 trillion in government money on wind farms? Is that all, Mister Pickens?
How’d that work out? Precisely as you’d expect. Unable to secure the titanic government money necessary,….
And then, finally, Mister Pickens acquiesced to reality….
Oh there’s still a Pickens Plan website – but thankfully, it’s the electronic shambling equivalent of the Walking Dead.
Of course, Pickens wanted the government to buy the wind turbines – because the government would also have to buy Pickens’ natural gas to provide actual energy…because wind turbines don’t.
And that appears to be what’s going on with Indiana’s Vectren.
Because you absolutely can not have the latter – without the former.
But one still is left wondering – why on Earth is Vectren doing this?
“Gas and electric utility company CenterPoint Energy plans to buy energy rival Vectren in a roughly $6 billion deal….”
There it is. Vectren is prepping their Indiana fields – for the CenterPoint merger. Making the company as attractive as possible for their soon-to-be masters.
Which is so-very-excellent for Vectren’s executives.
“Vectren shareholders cast ballots on a resolution for the top executives’ pay – if a planned merger between Vectren and CenterPoint Energy is approved….
“(C)urrent Vectren Chief Executive Officer Carl Chapman’s employment will terminate upon the close of the deal. Shareholders voted to approve Chapman’s final compensation package -totaling approximately $31.9 million….
“In addition to Chapman’s compensation, the document outlines potential payments to three other top executives should their employment end with the merger.
“The approximate payouts are as follows:
“Susan Hardwick, EVP & Chief Financial Officer – $6.1 million.
“Eric Schach, EVP & Chief Operating Officer – $7.2 million.
“Ronald Christian, EVP & Chief Legal & External Affairs Officer – $9.4 million.”
And because money is fungible – much of all this massive executive compensation comes from…government wind energy subsidies.
Which is awful for We the Taxpayers.
You know who else is getting screwed by this – twice, actually, because they are also taxpayers? Vectren’s Indiana energy customers.
Vectren’s victims – oops, I mean customers – have a chance to weigh in on the proposed solar-natural gas combo:
“Vectren customers are welcome to comment at a July 11 hearing about the utility’s long-range electric generation plans, which include constructing a new natural gas plant in Posey County, and recovering the cost through rates.”
Oh look – even more rate hikes. Outstanding.
Here’s hoping Vectren’s victims – oops, I mean customers – can stop it in its tracks.
And, of course, all of this is yet another reminder why We the Sane – don’t want government mucking around in the private sector.
Because it always screws up everything.
[Originally Published at RedState]