Twisted narrative on renewables in FT -herd the investors away?

[azul]

Renewables desperate to feel breath of funds

By Sheila McNulty in Houston

Renewables groups squeezed by the economic crisis are going bankrupt in spite of the billions in new funding for the sector earmarked by the administration of Barack Obama.

It could take several months for the government to establish a regulatory framework to disburse the funds set aside in the administration's stimulus package to build a "green" economy. In the meantime, some companies already are in an untenable position.

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"Investors like me will be waiting on the sidelines -during the short-term boom period and will look to step in and buy assets for pennies on the dollar when the renewable bust comes in a few years,'' Mr Miller said.

By then, he said, the market would be littered with uneconomical renewable projects. As an investment model, he suggests, one need only look at the ethanol boom and bust of the past three years. "It was a clear demonstration that government handouts simply do not work.'

http://www.ft.com/cms/s/0/63889c30-1d8b-11de-9eb3-00144feabdc0.html



Desperately seeking Cheney"s baloney -to continue on the energy path of destructive pollution.