Here we go again! Wall Street cares less about how this will impact people. It's a boondoggle. And we will pay through the nose for their games.
READ THE FREQUENTLY ASKED QUESTIONS before applying.
Only $1.89 each, minimum of 1,000, only $1,890.
The Regional Greenhouse Gas Initiative (RGGI) has contracted with BNY Mellon to handle the money.
Anyone can buy them if, after the application process, you are chosen, even foreign firms. The second most frequently asked question makes this clear:
1. Who is eligible to participate in a CO2 allowance auction?
At this time, all parties are eligible to participate in CO2 allowance auctions including but not limited to corporations, individuals, non-profit corporations, environmental organizations, brokers, and other interested parties.
2. Can a firm incorporated outside the U.S. qualify to participate and bid in CO2 allowance auctions? More specifically, are there any additional special requirements for a foreign firm to participate?
There are no special requirements for a foreign firm to participate in CO2 allowance auctions. An applicant that does not have a United States Federal Tax ID should enter “Not Applicable” or “N/A” in the appropriate field of the Qualification Application.
There have already been several auctions. BNY Mellon will handle the money.
I highly recommend all who are interested in the emergence and history to date of this Cap and Trade program to read the Frequently Asked Questions linked above, and the history of BNY Mellon whose CEO is Robert P. Kelly For those of us who are Finance Committee CSPAN fans, Mr. Kelly is a familiar face.
Robert P. Kelly, was formerly CFO of First Union, which merged with Wachovia which was purchased by Wells Fargo. In 2006, Mr. Kelly moved to Mellon Financial which immediately merged with the Bank of New York to become The Bank of New York Mellon. Mr. Kelly's rise is a story unto itself. It's important background information for this story.
The Next Crash and Burn Bubble. The Great American WindDoggle. Bear with me. I believe I have analyzed this correctly. Hey, I got the MERS thing right and the Health Care outcome right. I have studied this now for a couple of months. We are being fleeced again. So,
Get in early and get out before the Great Crash of the Cap and Trade Bubble at some time in the future when government subsidies for wind energy cease and the turbines are left to rot.
Or learn how to buy, short, insure....oh heck, hire a quant and make your millions.
What had to happen to make this impending bubble work? Alternative energy. That's a good thing. What was/is used? Wind Farms. Hundreds of wind farms.
View the map and read the federal government investment figures in wind energy. $3,556,000,000+
Of course I am snarking about recommending investments. I know nothing about them. However, this sure sounds like, looks like, has all the same players as previous energy boom/bust bubbles, imo. Sadly, no studies of the impact of wind farms on human beings has been or is being considered.
This diary hopes to provide information that is not easily found regarding wind farms, their history, locations, and impacts.
The Regional Greenhouse Gas Initiative (RGGI) is auctioning carbon allowances again!
The Regional Greenhouse Gas Initiative (RGGI) is the first market-based greenhouse gas regulatory program in the United States... RGGI just held its twelfth auction.
Here's who was accepted as a bidder by RGGI in the last auction:
In accordance with Section 2.8 of the Auction Notice for CO2 Allowance Auction 12 on June 8, 2011, the Participating States are releasing the names of Potential Bidders in Auction 12. The states defined potential bidders as: “Each Applicant that has been qualified and submitted a complete Intent to Bid.” The list of 47 Potential Bidders is as follows:
AES Eastern Energy,
LP Aircraft Services Corporation
Algonquin Windsor Locks, LLC
Astoria Energy, LLC
Astoria Generating Company, LP
Brick Power Holding, LLC
Brookfield Energy Marketing Inc.
Brooklyn Navy Yard
Cogen Partners, LP
Burlington Electric Department
Caithness Long Island, LLC
Calpine Energy Services, LP
Castleton Power, LLC
Chambers Cogeneration, LP
ConocoPhillips Company
Consolidated Edison Comp. of NY, Inc.
Constellation Energy Commodities Group
CP Energy Marketing (US) Inc.
Delaware Municipal Electric Corp.
Dominion Energy Marketing, Inc.
Dynegy Marketing and Trade, LLC
Empire Generating Co., LLC
Energy Echelon, LLC
EquiPower Resources
GDF SUEZ Energy Marketing NA, Inc.
GenOn Energy Management, LLC
Hess Corporation (G)
Indeck-Corinth Limited Partnership
Jamestown Board of Public Utilities
J-Power USA Development Co., Ltd.
Logan Generating Company,
LP Massachusetts Muni.
Wholesale Elec. Co.
Morgan Stanley Capital Group, Inc.
National Grid Gen. dba National Grid
NextEra Energy Power Marketing, LLC
North American Energy Alliance, LLC
NRG Power Marketing, LLC
Old Dominion Electric Cooperative
PSEG Energy Resources & Trade, LLC
Public Service Company of New Hampshire
RBC Selkirk Cogen Partners, LP
Shell Energy North America (US), LP
TAQA Gen X, LLC
TransCanada Power Marketing, Ltd.
Verso Paper Corp.
Village of Freeport Vitol Inc.
Acording to RGGI's June 13, 2011 - RGGI carbon auction results the results of the last auction were a bit disappointing.
Interestingly, only 30 percent of the current-period carbon allowances available in the auction actually changed hands. This low demand for allowances is striking, particularly since the price was as low as it could be: the auction floor price of $1.89 per short ton of CO2. This apparent oversupply has emerged as the RGGI market matured; in the initial auction, the bid demand was four times larger than the supply. While supply first outpaced demand for the tenth auction, held in December 2010, the 30% figure represents a new low for auction demand.
RGGI's thirteenth auction is scheduled for September 7, 2011.
Hmmmm. What does this mean?
Here is the white paper that evaluates the CO2 trading performance to date. Based on other studies, this is happy talk.
Relative Effects of Various Factors on RGGI Electricity Sector CO2 Emissions: 2009 Compared to 2005
Here's the annual report for 2010 for RGGI.
Maybe the fact that a non-professional Grandmother from Utah is beginning to doubt wind energy's ability to wean us off of fossil fuel is indicative that others might be doubting, too, also.
There are greater minds here that can discern the potential for another Energy Boom/Bust.
For some background on the ups and downs of trading, the affects of government clean energy subsidies, and history of wind power, it is important to peruse this article from The American Thinker:
Wind Energy's Ghosts
By Andrew Walden
So, CO2 Cap and Trade is alive and well and has been for years.
For those of you interested in investing, here are a couple of Auction facts:
Auction Format questions Issued on July 12, 2011, found on Page 7. Here are the first two:
Questions and answers provided in this section relate to the auction format and procedures to be utilized in a CO2 allowance auction.
1. Is there a bid price ceiling?
No, there is no bid price ceiling.
2. Why has the auction reserve price increased from $1.86 to $1.89?
The auction reserve price for 2008 and 2009 was $1.86. Subsequent to 2009, the auction reserve price is adjusted at the beginning of each calendar year for the U.S. Department of Labor, Bureau of Labor Statistics Consumer Price Index.
For calendar year 2010, there was no change in the reserve price due to the CPI adjustment. The reserve price remained at $1.86. For calendar year 2011, the CPI adjustment resulted in a new reserve price of $1.89.
3. In selecting winning bidders, is there any preference given to residents of the participating states?
No preference will be given to any bidder.
AN INKLING
I have an inkling that the huge amount of wind farm installations since January, 2009 were done so in order to provide the media for the CO2 trading. An entire wind farm can be installed in about 6 months or so.
Tens of thousands of turbines now dot the country and thousands more are proposed. Again, there are over 13,000 in California alone.
Wind Farms can be fast money!
Wind farms provide the necessary offset for the Carbon Trading scheme to work. That's where the really big, big money will be made by the few, and lost by the many.
WHAT COULD GO WRONG?
Time will tell. Or history.
Carbon Credit Watch: Fraud in carbon markets continues
(January 21, 2011) Cases of fraud and corruption have plagued carbon markets since their inception more than five years ago. As recent media reports suggest, officials in charge of regulating these markets have failed to keep them clean
.
Fraud? In the markets? No way! Way!
Europe must ban flawed carbon credits
Millions of pollution permits in Europe's emissions trading scheme do very little for the environment. A vote on Friday could change that
Taxpayers Get Hosed on Duke Energy's Wind Farm Buying Spree
Landowners with wind turbine on their land have mechanic's lien put on their property, and other tales of woe.
THE BOTTOM LINE IS THAT ICE, DEBRIS OR ANYTHING BREAKING OFF THE WIND TURBINE BLADES (including the blades themselves) CAN IMPACT A POINT ALMOST 1700 FEET AWAY FROM THE BASE OF THE TURBINE…
This is a fellow citizen reporting on the wind turbines placed near his home:
What is true is that these wind farms are being placed near and on the property of very small towns with NO clout, in desperate need of money, etc. Of course, the residents had no idea they would have the issues shown in the video above.
Would you want to live with the flickr and noise?
WHAT WILL THE BENEFITS BE?
Time will tell. Fossil fuel reduction?
California has over 13,000 turbines that provide 2.3% of their energy needs. Ok, that's a college students paper, but a great resource. Here's a better resource: Wind Energy in California
What is true today is that wind farms have been built all over the country since 2009 with no studies or seeming regard for their affects on people living near them. Birds and bats are of greater concern, or so it seems.
IS WIND ENERGY THE BEST ALTERNATIVE?
Time will tell. However, there are some problems
Attorney general investigates developers -- Two New York wind companies accused of improper practices
Sadly, wind does not provide the anticipated output, so the numbers are mercurial. Perfect for the Wall Street scheme.
WIND ZEALOTS AND THEIR LIES!
John Quirke of Noble Power said that local wind projects should average 30-35% of their listed capacity. In 2010, however, the Chateaugay wind plant only averaged 20.6%. The predicted value was exaggerated 58% over actual. According to Public Service Commission Report #09E-0497, if transmission losses and wind project electric use are subtracted, the wind projects only returned about 10% of their advertised capacity to consumers
.
CAN WIND FARMS AFFECT LOCAL WEATHER, EVEN MAKE TORNADOES?
Incidents at Wilton Wind Farm Concern Some Residents
Those who live by a wind farm near Wilton are concerned about safety. A blade on a turbine broke in heavy wind over the weekend.
Residents say a string of recent incidents show something needs to be done, but state leaders say they are safe.
A similar incident occurred earlier this year near Minot and a few months ago, the entire nose of a turbine fell to the ground near Rugby.
The fiberglass on this wind turbine blade near Wilton peeled away like a banana in the middle, and residents who live near the wind farm are concerned.
Here are a couple of pics of the Wilton wind farm:
Well, a Florida company owns that Wilton Wind Farm in North Dakota that the citizens are concerned about:
NextEra Energy Resources, formerly FPL (Florida Power & Light), who at one time acquired Enron Wind Assets.
Judging from the frequent tornadoes in North Dakota, I'd say the residents have good reason to be concerned. Here is a list of just a few days this month from NOAA's Storm Prediction Center for showing the tornadoes reported in North Dakota:
July 08, 2011
July 10, 2011
July 16, 2011
July 17, 2011
July 22, 2011
Well, you get the gist. How close to a wind turbine would you want to live in the beautiful state of North Dakota. Perhaps this is why there are many job openings there. There are a LOT of tornadoes in North Dakota.
Only two scientists have studied the potential weather impact of wind farms. These two lonely scientists have produced a report using data from 1989.
SCIENTISTS STUDYING WIND FARMS EFFECTS ON TEMPERATURE, WEATHER
A wind industry advocate was skeptical of Baidya Roy's study.
"As a practical matter, it sounds outlandish, and it's not worth commenting on," said Greg Wortham, executive director of the Texas Wind Energy Clearinghouse based in Sweetwater.
Here is a partial list of tornadoes in the US by area from wikipedia. Now that there are few areas, especially in the plains, without wind farms dotting the landscape, most of which were/are installed within the last 10 years, do you see an uptick in tornadoes for these areas? Do an "edit/find/dakota" search of the site.
HEALTH AFFECTS ON PEOPLE
Overwhelming research studying the potential affects wind farms might have on PEOPLE is only overwhelming because there are NONE! NO STUDIES HAVE BEEN DONE. I repeat, NO STUDIES HAVE BEEN DONE!
In December, 2009 the American Wind Energy Association and Canadian Wind Energy Association hired a team of experts to form a panel to report back to both about the impacts of a wind farm.
The panel, paid by the industry to produce the report, concluded that there are no proven harmful affects. However, the panel also states clearly that
In the area of wind turbine health effects, no case-control or cohort studies have been conducted as of this date.
Accordingly, allegations of adverse health effects from wind turbines are as yet unproven. Panel members agree that the number and uncontrolled nature of existing case reports of adverse health effects alleged to be associated with wind turbines are insufficient to advocate for funding further studies.
To paraphrase the esteemed panels conclusions:
People around the world who say they are suffering, some so badly they have abandoned their homes and land, and who can't afford to pay the fees of this esteemed panel, and certainly can't afford to pay for a long-term case study are SOL. Why? Because this esteemed panel of experts has told local, state, and federal governments that the purported suffering is insufficient to warrant further studies.
George Orwell would be proud of this group. Who, btw, hired a psychiatrist to help form the words of this study.
We acknowledge the following person for suggestions and comments on the manuscript. The final responsibility for the content remains with the authors.
Richard K. Jennings, M.D. —Psychiatrist, Retired
Seriously, I picture all concerned in erecting 30,000 - 50,000 windturbines with their eyes closed, forefingers in their ears, while loudly chanting Wind Power is Good for Everyone.
LACK OF PUBLIC INFORMATION REGARDING LOCATIONS OF WIND FARMS IN THE USA
It could be helpful if the Department of Energy maintained, updated, and made available to the public a list of all wind farms (5 or more turbines) with the exact longitude and latitude, so that some internet research could be done to track possible affects on weather, etc.
There is NO COMPLETE LIST OF EXISTING AND PROPOSED WIND FARMS IN USA.
Wind Farms are privately owned, not owned by in-state interests. Heck, the power they generate doesn't necessarily provide power for the county the wind farm is in. It's the Wild Wild West of Wind Farming, quite frankly. Trying to unravel this is impossible. I have tried. Others are trying. It's freaky and mercurial.
There is NO publically available listing of all the wind farms in the US that is current, let alone a complete list of current wind farms that includes new wind farms or expansions to existing wind farms. This information seems to be a closely held secret.
I have spent hours and hours trying to pin point the wind farms in the USA to see if there is a corresponding relationship to the increased weather intensity of the past few years and the locations of wind farms.
Here is the most complete list if existing wind farms I have been able to find. Of note, are the corporate interests (both domestic and foreign) that own the wind farms.
Wind Farms listed by State
Nothing could be more confusing than tracking down who owns wind farms and exactly where they are located. Again, I have spent hours trying to do this. I will drop pics of wind farms I have found at the end of the diary.
And without that information, it's impossible to truly track the energy they produce. It's a confusing mess.
So much so that the Union of Concerned Scientists put out this report today:
EIA “inflated” report on renewable energy subsidies, says group
“Any future work the EIA carries out on the topic of energy subsidies must be free of political interference, include a systematic and consistent assessment of all types of subsidies over a long period of time, and ensure that the analyses are done with greater transparency and broader public input.”
WHO WOULD HAVE GUESSED THAT WESTERN MINNESOTA IS A GIANT WIND FARM?
Here's a video to see the HUGE wind turbine installation on the border of South Dakota and Western Central Minnesota. You really have to see this to believe it:
The mystery of why we're seeing more tornadoes in Minnesota?
Here's what NOAA scientists say to that theory: "The best answer is: We don't know."
Is it possible these huge wind farms in western central Minnesota are to blame? Without direct studies we can't know.
I will say that I have studied the locations of tornadoes and their proximity to wind farms and, yes, they seem to happen in proximity to wind farms. However, now that there are wind farms covering the plains, it will be hard to have a tornado that isn't near a wind farm.
CONCLUSION
We are on an unsustainable path regarding fossil fuels. However, it is unclear whether wind farms are the best solution without knowing the impacts on human beings living near them. Perhaps they belong far away from the public.
I do not understand why geothermal energy isn't getting more funding. Ostensibly, each building could have their very own energy. Or neighborhoods could pool resources and provide geothermal energy.
But then, if power companies couldn't profit, then the answer to Why Not Geothermal? is quite clear, isn't it.
Ten years from now, granted we are all still here and able to communicate freely on the internet, I hope I can write a diary saying I was wrong.
I hope that this huge push and investment in wind power isn't just another Boom and Bust Bubble contrived to enrich the few and rob the many.
Google invests $55 million in Mojave Desert wind farm
Google to help build East Coast wind farm
Google Invests $100M in (Another!) Wind Farm
Google, Citigroup to Invest $204 Million to Fund Biggest Wind Farm in U.S.
Heck, everyone is investing in wind farms.
Pension Funds are investing in wind farms:
The New York State Common Retirement Fund invested $15 million in Invenergy's High Sheldon Wind Farm, located in Wyoming County, through Credit Suisse Customized Fund Investment Group, State Comptroller Thomas DiNapoli announced Monday.
So, maybe we should all invest in wind farms and get out before the subsidies run out on them.
_______
A Few PICS OF WIND FARMS, some with weather events