Did you short-sell your solar energy shares as I advised last week in my Breitbart piece “The Solar Industry is Dying: Good Riddance?
If you’d picked SunEdison – the world’s largest green energy company – you would have made a killing as its shares plunged further this week, amid rumours that it now faces imminent bankruptcy.
SunEdison, valued at $10 billion in July 2015 is now worth just $400 million today. This represents a catastrophic loss for the investors gulled into this sector in the mistaken belief that “clean” energy is the future and that it’s possible to make lots and lots of money and polish your environmental conscience at the same time.
Well maybe once you could but not any more. And it won’t be the last green venture to turn to ashes either for one very simple reason: renewable energy is almost entirely dependent on taxpayer subsidy. When the money runs out the business dies.
I’m kicking myself that I didn’t follow my own advice and short those SunEdison shares. But I’m guessing there’ll be plenty of similar opportunities in the years to come.
It’s one reason I can’t wait for the anti-green hedge fund – Cool Futures – I wrote about a few months ago to get going. Though it’s not going to make me much money (I bought a share in its management company via Gofundme), there are few things that give me greater pleasure that watching people profit from the collapse of the Green Ponzi Scheme.
These troughers are lower than pond life; they’ve been leeching off us for years and now they’re getting the comeuppance that they deserve.