Techno advances and capitalists’ profits – what’s not to like?

Wind turbines line a ridge overlooking Mahanoy City, Pa.Spaced out along 10 miles of mountain ridge about 100 miles north of my home are a line of humongous propellers mounted on poles. There are about 60 of the propellers, twirling, almost constantly, above Mahanoy City – a town in the center of Pennsylvania’s once-thriving anthracite coal industry. The slowly spinning blades drive turbines said to generate enough electricity to power more than 60,000 homes.

Phase II of the project – addition of 51 turbines to the original 13 – was accomplished in 2009 with the assistance of a $295 million federal grant. The money from us taxpayers, according to published reports, enticed investors such as Morgan Stanley and Citigroup to kick in more money – money they were loath to invest without Iberdrola, a Spanish wind energy firm currently involved in four other wind-power projects in the U.S., coming up with a significant investment.

The grant was part of more than $500 million we taxpayers kicked in during 2009, Continue reading …

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