Brace for the Wind and Electric-Vehicle Bailouts – WSJ
Ford assured investors last week that its generous deal with the United Auto Workers wouldn t threaten its profitability. Maybe. The same can t be said of its electric vehicles, which lost $3.1 billion during the first nine months of this year.
Those losses will doubtless grow, and anyone who thinks Washington won t give auto makers another bailout should think again. Last week Munich-based
, one of the world s top wind manufacturers, said the German government is prepared to extend as much as ¬16 billion (or $16.9 billion) in state guarantees to rescue it.
Government has invested too much politically and financially in renewables and electric vehicles to let the companies go bust.
via www.wsj.com
Who could have seen this coming? Fortunately, all the smug investors in wind start ups have already made their millions, so we don’t need to worry about them. They’re rich or richer now, and still our moral superiors, so it’s all good.