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It may be the time to consider how wind farms fit in with the values which the Wilderness Society represents. If the Society is prepared to go through such a prolonged and worthy fight to save the forests, with all the financial and emotional costs involved, it would be consistent to regard wind farm development with the same scepticism with which it regards the wood chip industry. Both are potent adversaries to the values which I hope we share.
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The clean-energy business is turning into the next big investment boom, in which risks are lightly brushed aside
November 21, 2006 in The Economist
November 21, 2006 in The Economist
The potential for growth, most analysts argue, is clear. But bottlenecks and political setbacks, not to mention technological glitches, will create many bumps in the road ahead. Indeed, fears that the most euphoric investors were overlooking such obstacles seem to have contributed to a sharp fall in clean-energy stocks earlier this year-although they have since recovered much of the lost ground. Such jitters caused several green-energy firms to cancel planned flotations.
“There’s legitimate debate about a couple of segments,” says Keith Raab, boss of Cleantech Venture Network. In some instances, valuations accorded to firms with no profits-and little chance of making any soon-were reminiscent of the excesses of the dotcom bubble. As Douglas Lloyd, of Venture Business Research, puts it, “There’s too much money chasing too few opportunities. How is it possible that this many solar companies are going to succeed? They’re not.”