Danish Wind Turbine Company Received Over $50 Million In Stimulus Lays Off 800 Worker

Discussion in 'Science and Technology' started by longknife, Oct 14, 2012.

  1. longknife
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    longknife Platinum Member

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    A Danish wind turbine company whose subsidiaries received over $50 million in U.S. stimulus dollars announced on Friday it has cut more than 800 jobs in the United States and Canada this year and may be forced to lay off another 800 employees in North America.

    This is yet another green energy company that received wasteful stimulus funds and does not even have anything to show for it.

    According to Reuters, Vestas, the wind turbine maker, saw its order intake go down by 24 percent during the first half of the year.

    "The U.S. wind industry has slowed, largely due to the uncertainty surrounding the Federal Production Tax Credit extension," said Martha Wyrsch, head of Vestas-American Wind Technology, Inc.

    Vestas said without more tax credits and stimulus funds, the company will have trouble competing.

    Vestas executives, according to Reuters, told investors that "it would stop non-profitable projects," especially in Europe and America, where demand for its products have plummeted.

    From Danish Wind Turbine Company That Received Over $50 Million In Stimulus Lays Off 800 Workers

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  2. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    [ame=http://www.youtube.com/watch?v=e0Rwbelu5NA]Mitt Romney tells Obama "You Pick the losers" - YouTube[/ame]
     
  3. Old Rocks
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    Old Rocks Diamond Member

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    From 2 1/2 Gw to nearly 50 Gw in less than 13 years. Even without the tax incentative, wind power will continue to grow. The primary impediment right now is lack of grid where the wind potential is highest. And that is being addressed.

    Wind Powering America: U.S. Installed Wind Capacity
     
  4. Matthew
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    Matthew Blue dog all the way!

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    It's economical in some places. As long as that is so then Romney isn't a threat to Wind power.

    Maybe when it comes to the huge tax breaks and sweet(slap backs) that it has been getting...O'well, we live in a free market economy that shouldn't give breaks to a technology that isn't ready.
     
  5. flacaltenn
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    flacaltenn USMB Mod Staff Member Gold Supporting Member

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    Actually bud -- the statement SHOULD be that a free market economy "shouldn't give breaks to a MATURE technology that hasn't caught on".. There is NOTHING "cutting edge" or modern about a wind turbine. Other than the design work to SCALE up the basics to gynormous proportions.

    I'm all in favor of "breaks to technology that isn't quite ready"... At least those have a chance of success...
     

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