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| World's Largest Green Energy Co. Collapses | |
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| Tweet Topic Started: Mar 31 2016, 09:32 AM (147 Views) | |
| Neutral | Mar 31 2016, 09:32 AM Post #1 |
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Fire & Ice Senior Diplomat
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How much did this one cost the taxpayers? Did you short-sell your solar energy shares as I advised last week in my Breitbart piece “The Solar Industry is Dying: Good Riddance? If you’d picked SunEdison – the world’s largest green energy company – you would have made a killing as its shares plunged further this week, amid rumours that it now faces imminent bankruptcy. SunEdison, valued at $10 billion in July 2015 is now worth just $400 million today. This represents a catastrophic loss for the investors gulled into this sector in the mistaken belief that “clean” energy is the future and that it’s possible to make lots and lots of money and polish your environmental conscience at the same time. Well maybe once you could but not any more. And it won’t be the last green venture to turn to ashes either for one very simple reason: renewable energy is almost entirely dependent on taxpayer subsidy. When the money runs out the business dies. I’m kicking myself that I didn’t follow my own advice and short those SunEdison shares. But I’m guessing there’ll be plenty of similar opportunities in the years to come. It’s one reason I can’t wait for the anti-green hedge fund – Cool Futures – I wrote about a few months ago to get going. Though it’s not going to make me much money (I bought a share in its management company via Gofundme), there are few things that give me greater pleasure that watching people profit from the collapse of the Green Ponzi Scheme. These troughers are lower than pond life; they’ve been leeching off us for years and now they’re getting the comeuppance that they deserve. http://www.breitbart.com/london/2016/03/30/curse-of-delingpole-worlds-biggest-green-energy-company-collapses/ |
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| Brewster | Mar 31 2016, 10:13 AM Post #2 |
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Fire & Ice Senior Diplomat
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I had to read that one, Absolute total Breitbart Bullship. The stock crash had absolutely NOTHING to do with "Green Energy". It had everything to do with "Bad Business Decisions". Until not long ago, SunEdison was one of the hottest stocks out there. From January 2013 to July 20 of this year, the stock jumped more than seven times its value. It is known as a major renewable energy development play that finances, builds, owns and operates various solar and wind power plants. But that all changed recently when it lost about 60 percent of its value since July 20. Until about a month ago, the stock managed to rally like crazy despite the collapse in oil prices. SunEdison had spun off a YieldCo called TerraForm Power with the idea that SunEdison would build solar facilities and then sell them to Terraform, which would own the project and pay shareholders a large dividend yield. And at that time, the market gobbled it up. Everyone seemed to love the idea of the YieldCo. Then the bottom fell out of oil. It has relapsed to levels not seen since 2009. That is not why SunEdison fell through the floor, but the latest drop in crude prices have changed the stock's backdrop. The first stage of SunEdison's collapse had to do with its acquisition binge. For a while, the market loved it when the company did a deal—until it went one deal too far. On July 20 it acquired Vivint Solar for $2.2 billion. The next morning UBS, Credit Suisse and Deutsche Bank all raised their price targets. Suddenly, investors became very worried about funding. Where the heck was SunEdison going to get the money to pay for all of its deals? The second leg down came when the IPO of SunEdison's second YieldCo, TerraForm Global, occurred. The deal turned out to be a huge bust. Underwriters had planned to sell 56.6 million shares for $19 to $21 a share and raise more than $1 billion. Instead, the demand only called for 45 million shares at $15 and it raised just $675 million. The bottom really fell out after SunEdison reported on Aug. 6, and while it delivered better than expected revenues, it had a larger than expected loss and the stock plunged 25 percent that day. Where do investors go from here? Last week SunEdison announced a big partnership with Dominion, one of the largest utilities in the country. Then, on Monday, it announced a two-part capital raising plan to address funding worries. The company overextended itself, continuing to make big acquisitions when it became clear that the market had turned against them. But Bad Business Decisions aside, we must always remember that as soon as you start talking Subsidies, you have to mention the Billion$ fossil fuel companies have been receiving in Subsidies and tax breaks for generations. Let the Market decide. Edited by Brewster, Mar 31 2016, 10:19 AM.
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| colo_crawdad | Mar 31 2016, 10:15 AM Post #3 |
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Fire & Ice Senior Diplomat
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Neutral, Assuming for the moment that your information is correct, does it somehow make you happy that a large company collapsed? Are you happy that many people lost their jobs? Do you view this travesty as some sort of victory for you? Edited to identify to whom this was written. Edited by colo_crawdad, Mar 31 2016, 10:18 AM.
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| Berton | Mar 31 2016, 10:16 AM Post #4 |
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Thunder Fan
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It should give us a lesson about the government forcing things on people which they do not want. |
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| Neutral | Mar 31 2016, 10:19 AM Post #5 |
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Fire & Ice Senior Diplomat
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Yes it makes me happy that part of the scam is folding. People are finding out it doesn't work also and thus the collapse. |
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| Brewster | Mar 31 2016, 10:21 AM Post #6 |
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Fire & Ice Senior Diplomat
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No need to read any more, the Twins are in Full Denial mode, I'm sure... |
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| Neutral | Mar 31 2016, 10:29 AM Post #7 |
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Fire & Ice Senior Diplomat
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You are the one in denial Brewster. lol |
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| Stoned | Mar 31 2016, 11:57 AM Post #8 |
Fire & Ice Senior Diplomat
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This was a failure of the go go financial method, not so much a failure of solar poiwer. |
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