<![CDATA[Grist - Comment Feed for Goldman Sachs and other financial powerhouses get into the Texas wind biz]]> Grist Comment Feed en Comment #1 by Truly Scrumptious http://www.grist.org/article/windbiz/ Mon, 26 Mar 2007 16:31:09 -0700 http://www.grist.org/article/windbiz/1 oh, great.

The same investment and advisory firm that is working diligently to convince states to privatize toll roads and has a fund that invests in toll roads is going to bring wind power to Texas.

Why do I have this unsettled feeling in my gut right now?

]]> oh, great.

The same investment and advisory firm that is working diligently to convince states to privatize toll roads and has a fund that invests in toll roads is going to bring wind power to Texas.

Why do I have this unsettled feeling in my gut right now?

]]> Comment #2 by Rune http://www.grist.org/article/windbiz/ Mon, 26 Mar 2007 20:36:12 -0700 http://www.grist.org/article/windbiz/2 Oh, what could possibly go wrong?

The company mentioned at the opening of the story, Horizon Wind Energy, was until a couple of years ago known as Zilkha Renewable Energy, whose CEO, Michael Zilkha, like his father before him, refused to talk about his company in public or to the press.  It seems the Zilkhas, by virtue of some earlier oil and gas energy deals, "became major shareholders in El Paso [Corp.]" in early 1999, just a couple years before that company illegally gamed the natural gas delivery and pricing system to create energy shortages and bilk Californians out of billions of dollars.  Just guessing, but I suppose Zilkha doesn't want to talk much about that, either.

But don't worry, neither of the silent Zilkhas are CEO of Horizon Wind Energy today.  Goldman Sachs has installed Alec G. Dreyer as the new head honcho.  Alec came to Horizon from Dynegy, Inc., which saw its stock finally rise almost as soon as Dreyer left, after sinking like a stone then remaining more or less flat while he was there, during which time the company's credit was declared to be "junk" by Standard and Poor's--the result of an illegal trading scandal similar to the one pulled off at El Paso Corp.  (Not that Dynegy has cleaned up its act.  As David Roberts recently pointed out, Dynegy is in a merger deal that will make it the owner of the most dirty coal fired electric generation plants in the United States.)

While he was there, Dreyer did get some unique experience at Dynegy . . . as a named defendant in a law suit in which he was among those leaders of the company who failed to protect the retirement benefits of employees.  More importantly to Goldman Sachs, which is supposedly very concerned about promoting environmental responsibility, Dryer was also a losing defendant in a case in which the EPA busted the company for failing to install pollution control equipment, which led to a bunch of emissions violations.  Those violations were Dreyer's responsibility for, as president of the company, it was up to him to oversee"environmental policy for all of Dynegy, as well as environmental compliance activities."

I'm not sure these are the best credentials for a supposedly green business leader, but kudos to Goldman Sachs for getting Dreyer into a business in which there isn't much opportunity to cut costs by increasing dangerous emissions.  Now if Goldman Sachs could just set a good example for Dreyer by cleaning up its pattern of illegal trading.  Perhaps that will be a little easier now that the scandal ridden Henry Paulson stepped down as CEO so he could contribute to the Bush administration as the U.S. Treasury Secretary.

So, like I said, what could possibly go wrong with such marvelous leadership and experience to draw upon?  Well, other than the fact that the electric grid in Texas won't carry much more energy, the turbines needed to generate the energy are back ordered for a couple years, and they are installing them in tornado alley, where they could easily be destroyed, year after year, by weather that is expected to become increasingly violent as global warming progresses, I mean.  ;-)

]]> Oh, what could possibly go wrong?

The company mentioned at the opening of the story, Horizon Wind Energy, was until a couple of years ago known as Zilkha Renewable Energy, whose CEO, Michael Zilkha, like his father before him, refused to talk about his company in public or to the press.  It seems the Zilkhas, by virtue of some earlier oil and gas energy deals, "became major shareholders in El Paso [Corp.]" in early 1999, just a couple years before that company illegally gamed the natural gas delivery and pricing system to create energy shortages and bilk Californians out of billions of dollars.  Just guessing, but I suppose Zilkha doesn't want to talk much about that, either.

But don't worry, neither of the silent Zilkhas are CEO of Horizon Wind Energy today.  Goldman Sachs has installed Alec G. Dreyer as the new head honcho.  Alec came to Horizon from Dynegy, Inc., which saw its stock finally rise almost as soon as Dreyer left, after sinking like a stone then remaining more or less flat while he was there, during which time the company's credit was declared to be "junk" by Standard and Poor's--the result of an illegal trading scandal similar to the one pulled off at El Paso Corp.  (Not that Dynegy has cleaned up its act.  As David Roberts recently pointed out, Dynegy is in a merger deal that will make it the owner of the most dirty coal fired electric generation plants in the United States.)

While he was there, Dreyer did get some unique experience at Dynegy . . . as a named defendant in a law suit in which he was among those leaders of the company who failed to protect the retirement benefits of employees.  More importantly to Goldman Sachs, which is supposedly very concerned about promoting environmental responsibility, Dryer was also a losing defendant in a case in which the EPA busted the company for failing to install pollution control equipment, which led to a bunch of emissions violations.  Those violations were Dreyer's responsibility for, as president of the company, it was up to him to oversee"environmental policy for all of Dynegy, as well as environmental compliance activities."

I'm not sure these are the best credentials for a supposedly green business leader, but kudos to Goldman Sachs for getting Dreyer into a business in which there isn't much opportunity to cut costs by increasing dangerous emissions.  Now if Goldman Sachs could just set a good example for Dreyer by cleaning up its pattern of illegal trading.  Perhaps that will be a little easier now that the scandal ridden Henry Paulson stepped down as CEO so he could contribute to the Bush administration as the U.S. Treasury Secretary.

So, like I said, what could possibly go wrong with such marvelous leadership and experience to draw upon?  Well, other than the fact that the electric grid in Texas won't carry much more energy, the turbines needed to generate the energy are back ordered for a couple years, and they are installing them in tornado alley, where they could easily be destroyed, year after year, by weather that is expected to become increasingly violent as global warming progresses, I mean.  ;-)

]]> Comment #3 by Delay And Deny http://www.grist.org/article/windbiz/ Tue, 27 Mar 2007 01:37:30 -0700 http://www.grist.org/article/windbiz/3 You Want A Good Investment? FCEL

Stop putzing around with wind power.   Check this out...I mentioned I invested in Fuel Cell Energy (FCEL) systems and it looks like it's paying off.

The stock jumped today because Connecticut may use their systems for "clean" generation.

See...that's why I'm more Green that you Gristers...I put my money where my mouth is!

http://biz.yahoo.com/ap/070327/fuelcell_energy_contract.h ...

DANBURY, Conn. (AP) -- FuelCell Energy Inc., which makes stationary fuel cells, said Tuesday the Connecticut Clean Energy Fund chose six projects that would receive 68 megawatts of the company's fuel cell products.
FuelCell Energy valued the deal at up to $200 million if all six projects receive approval.

The state's two electric distribution companies will review the energy fund's recommendations and perform additional analyses, leading to their selection of the projects to receive long-term power purchase agreements.

Shares of FuelCell Energy jumped $1.39, or 19.3 percent, to $8.59 in morning trading on the Nasdaq Stock Market.


]]> You Want A Good Investment? FCEL

Stop putzing around with wind power.   Check this out...I mentioned I invested in Fuel Cell Energy (FCEL) systems and it looks like it's paying off.

The stock jumped today because Connecticut may use their systems for "clean" generation.

See...that's why I'm more Green that you Gristers...I put my money where my mouth is!

http://biz.yahoo.com/ap/070327/fuelcell_energy_contract.h ...

DANBURY, Conn. (AP) -- FuelCell Energy Inc., which makes stationary fuel cells, said Tuesday the Connecticut Clean Energy Fund chose six projects that would receive 68 megawatts of the company's fuel cell products.
FuelCell Energy valued the deal at up to $200 million if all six projects receive approval.

The state's two electric distribution companies will review the energy fund's recommendations and perform additional analyses, leading to their selection of the projects to receive long-term power purchase agreements.

Shares of FuelCell Energy jumped $1.39, or 19.3 percent, to $8.59 in morning trading on the Nasdaq Stock Market.


]]> Comment #4 by Delay And Deny http://www.grist.org/article/windbiz/ Tue, 27 Mar 2007 02:44:43 -0700 http://www.grist.org/article/windbiz/4 Screw the Big Guys

Screw 'em with your own helical wind turbine:

http://www.quietrevolution.co.uk/qr5.htm#

The cost is $48,000 -- not cheap, but on an installment plan you don't have to be Julia Roberts to Go Green.

They've featured this article in http://digg.com

The quietrevolution (QR) was designed in response to increasing demand for wind turbines that work well in the urban environment, where wind speeds are lower and wind directions change frequently.

The elegant helical (twisted) design of QR ensures a robust performance even in turbulent winds. It is also responsible for virtually eliminating all noise and vibration.

At five metres high and three metres in diameter, it is compact and easy to integrate, and with just one moving part, maintenance can be limited to an annual inspection.

]]> Screw the Big Guys

Screw 'em with your own helical wind turbine:

http://www.quietrevolution.co.uk/qr5.htm#

The cost is $48,000 -- not cheap, but on an installment plan you don't have to be Julia Roberts to Go Green.

They've featured this article in http://digg.com

The quietrevolution (QR) was designed in response to increasing demand for wind turbines that work well in the urban environment, where wind speeds are lower and wind directions change frequently.

The elegant helical (twisted) design of QR ensures a robust performance even in turbulent winds. It is also responsible for virtually eliminating all noise and vibration.

At five metres high and three metres in diameter, it is compact and easy to integrate, and with just one moving part, maintenance can be limited to an annual inspection.

]]> Comment #5 by Rune http://www.grist.org/article/windbiz/ Tue, 27 Mar 2007 04:28:26 -0700 http://www.grist.org/article/windbiz/5 Energy wasting batteries (fuel cells) aren't green

Stop putzing around with wind power.   Check this out...I mentioned I invested in Fuel Cell Energy (FCEL) systems and it looks like it's paying off.
Hydrogen fuel cells are not energy sources, they are inefficient batteries that wear out and need to be refurbished or replaced every few years.  The systems produced by FuelCell Energy, Inc. are powered by hydrocarbons.  At this point, it is not clear that hydrogen fuel cells will ever make economic or environmental sense.  Meanwhile, there is enough hype and public funny money in the system to create an industry that delivers posturing rather than real progress for its customers.

See...that's why I'm more Green that you Gristers...I put my money where my mouth is!
Some of us "Gristers" have designed and installed our own clean energy generation and conservation systems and we use them every day instead of just throwing money at a company that can't deliver a truly clean and renewable energy system or do anything about the end users' energy efficiency.  Actually getting informed and involved by taking responsibility for your own energy production and consumption instead of making arms lengths investments that are primarily aimed to make some money, not account for one's own energy and related emissions seems a little greener to me.


]]> Energy wasting batteries (fuel cells) aren't green

Stop putzing around with wind power.   Check this out...I mentioned I invested in Fuel Cell Energy (FCEL) systems and it looks like it's paying off.
Hydrogen fuel cells are not energy sources, they are inefficient batteries that wear out and need to be refurbished or replaced every few years.  The systems produced by FuelCell Energy, Inc. are powered by hydrocarbons.  At this point, it is not clear that hydrogen fuel cells will ever make economic or environmental sense.  Meanwhile, there is enough hype and public funny money in the system to create an industry that delivers posturing rather than real progress for its customers.

See...that's why I'm more Green that you Gristers...I put my money where my mouth is!
Some of us "Gristers" have designed and installed our own clean energy generation and conservation systems and we use them every day instead of just throwing money at a company that can't deliver a truly clean and renewable energy system or do anything about the end users' energy efficiency.  Actually getting informed and involved by taking responsibility for your own energy production and consumption instead of making arms lengths investments that are primarily aimed to make some money, not account for one's own energy and related emissions seems a little greener to me.


]]> Comment #6 by Bruce Frykman http://www.grist.org/article/windbiz/ Wed, 28 Mar 2007 08:43:41 -0700 http://www.grist.org/article/windbiz/6 My green energy solution

My green energy solution uniquely captures  solar energy in a profoundly environmetally friendly manner.

Rather than rely upon the latest for profit technology fads like Priuses etc. that just end up breaking, going obsolete, and eventually filling our landfills,  my solution recycles the waste products of energy consumption while it greens the planet.

It involves liberating the wonderful gas called hydrogen from limitless fuel sources called hydro-carbons whereupon it this wonderful gas combines with a dangerous atmospheric plant produced pollution and in the process produces water vapor which helps cloud formations which in turn helps cool our fevered planet.

Another benefit of this reaction is a gas that readily dissolves in the earth's oceans where solar energy converts it into phyloplankton, the basis of the food chain for all sea born life.  Its salmon food folks.

The only drawback is that it is intensively life supporting and threatens all of the the Earth's dead places.  Our wastelands could actually be threatened with shrinkage only to be filled with critters frolicking in newly formed natural greeneries. Im working out a method of correcting this deficiency using Zyklon-B as a catalyst.      
 

]]> My green energy solution

My green energy solution uniquely captures  solar energy in a profoundly environmetally friendly manner.

Rather than rely upon the latest for profit technology fads like Priuses etc. that just end up breaking, going obsolete, and eventually filling our landfills,  my solution recycles the waste products of energy consumption while it greens the planet.

It involves liberating the wonderful gas called hydrogen from limitless fuel sources called hydro-carbons whereupon it this wonderful gas combines with a dangerous atmospheric plant produced pollution and in the process produces water vapor which helps cloud formations which in turn helps cool our fevered planet.

Another benefit of this reaction is a gas that readily dissolves in the earth's oceans where solar energy converts it into phyloplankton, the basis of the food chain for all sea born life.  Its salmon food folks.

The only drawback is that it is intensively life supporting and threatens all of the the Earth's dead places.  Our wastelands could actually be threatened with shrinkage only to be filled with critters frolicking in newly formed natural greeneries. Im working out a method of correcting this deficiency using Zyklon-B as a catalyst.      
 

]]> Comment #7 by GreyFlcn http://www.grist.org/article/windbiz/ Wed, 28 Mar 2007 10:58:03 -0700 http://www.grist.org/article/windbiz/7 In other news

Austin Texas now supports Plugin Hybrids

Austin Powers Up Green: 'Plug In My Hybrid Baby'
http://www.treehugger.com/files/2007/03/austin_powers_u_1 ...


]]> In other news

Austin Texas now supports Plugin Hybrids

Austin Powers Up Green: 'Plug In My Hybrid Baby'
http://www.treehugger.com/files/2007/03/austin_powers_u_1 ...


]]> Comment #8 by Liara Covert http://www.grist.org/article/windbiz/ Thu, 05 Apr 2007 20:38:12 -0700 http://www.grist.org/article/windbiz/8 Future collaboration?

Its great to hear the Macquarie, Australia's largest investment bank, is investing in a wind energy project in Texas, USA. I look forward to hearing more about the background and progress of the project. I wonder when financial partners involved will decide on phase II, which will no doubt be located in flat country "Down Under!?" After all, Australia has 7,686,850 sq km & Texas 268,601 sq miles. Oz has a lot of unused open space.

]]> Future collaboration?

Its great to hear the Macquarie, Australia's largest investment bank, is investing in a wind energy project in Texas, USA. I look forward to hearing more about the background and progress of the project. I wonder when financial partners involved will decide on phase II, which will no doubt be located in flat country "Down Under!?" After all, Australia has 7,686,850 sq km & Texas 268,601 sq miles. Oz has a lot of unused open space.

]]>