America’s First Offshore Wind Farm Blows Up Controversy - $Oil $UNG $SPY $XLE $UWTI

By Michael Tennant

The United States’ first offshore wind farm is going to cost about $17,600 per home it will power. Private investors will turn a profit, and government officials can pat themselves on the back for having done something to combat “climate change.” But the owners of those homes, some of whom are already paying among the highest power rates in the nation, will end up shelling out nearly twice as much as the average American for this “green” electricity.

Deepwater Wind, a private energy firm, put the finishing touches on the Block Island Wind Farm in August. . . . The turbines are expected to begin generating electricity in November.

Although the wind farm was privately financed, it couldn’t have been completed without the assistance of various government officials. . . .

Deepwater CEO Grybowski had a point when he told Rhode Island Public Radio that “the need for new energy sources is underscored by the retirement of the coal-fired plants that traditionally supplied New England’s electricity.” Many of those plants, however, are being closed because of the Obama administration’s war on coal.

Indeed, politics, rather than necessity, seem to be the driving force behind the push for offshore wind farms. Left-wing politicians are leading the charge for “renewable” power sources, and private firms are only too happy to rake in the profits by getting on the bandwagon. And the problem isn’t just coming from Washington. . . .




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