{"id":263878,"date":"2023-06-26T10:05:37","date_gmt":"2023-06-26T08:05:37","guid":{"rendered":"https:\/\/climatescience.press\/?p=263878"},"modified":"2023-06-26T10:05:39","modified_gmt":"2023-06-26T08:05:39","slug":"siemens-energys-troubles-a-case-study-in-the-misallocation-of-resources","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=263878","title":{"rendered":"Siemens Energy\u2019s Troubles: A Case Study in the Misallocation of Resources"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Watts Up With That?<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The stunning 37% plunge in Siemens Energy\u2019s stock value <\/a>should serve as a reality check for climate change alarmists. The cause, an escalating crisis in their wind turbine division, shows us that massive resources are being poured into a sector that is, in many ways, still uncertain and unproven. Instead of funneling resources towards potentially flawed green technology to tackle a problem that might not even exist, we should be focusing on optimizing reliable and efficient energy sources that have served us well for centuries, and a greater reliance on nuclear to provide base-load power.<\/p>\n\n\n\n

The problem at Siemens Energy arose from a \u201csubstantial increase in failure rates of wind turbine components,\u201d leading to a significant technical review and repair process expected to cost upwards of 1 billion euros ($1.09 billion). <\/a>This is not just a company-specific problem but one that underlines the broader challenges facing the renewable energy sector.<\/p>\n\n\n\n

The scale of these costs serves as a stark reminder of the vast amounts of money currently being funneled into green energy technology. While it might be considered commendable to explore new ways to generate power, it becomes problematic when the resources allocated towards these efforts are massively disproportionate to the measurable benefits they deliver, as well as proving to be unsustainable without massive government subsidies.<\/a><\/p>\n\n\n\n

A significant portion of these investments is driven by the perceived need to combat climate change. However, there\u2019s considerable debate around the magnitude and urgency of this issue.<\/a> Is it truly necessary to disrupt entire sectors of the economy, invest trillions of dollars, and place our faith in unproven technologies to address a problem whose severity is far from unanimously agreed upon?<\/p>\n\n\n\n

Siemens Energy\u2019s troubles highlight the potential pitfalls of this approach. Despite enormous investments in wind energy, the technology is still prone to significant failures, leading to massive unforeseen costs. This raises questions about the overall effectiveness of this green transition and the wisdom of prioritizing these technologies over traditional energy sources.<\/p>\n\n\n\n

Focusing on optimizing our existing energy infrastructure could lead to more immediate and cost-effective results. For example, improving the efficiency of traditional power plants, modernizing the electricity grid, and expanding nuclear power could all contribute to cleaner, more reliable energy without the risks and uncertainty associated with renewable technology.<\/p>\n\n\n\n

Moreover, focusing on economic growth and technological innovation can also deliver environmental benefits. Prosperous societies have more resources to allocate towards environmental conservation,<\/a> and technological advancements often lead to more efficient use of resources. Rather than rushing headlong into a green transition, if only saner heads could prevail, we could reconsider our approach to energy policy.<\/p>\n\n\n\n

In conclusion, the fall in Siemens Energy\u2019s stock value is a sobering reminder of the risks and costs associated with the foolhardy rush towards renewable energy. Instead of investing vast resources into a potentially overhyped climate change problem, we should take a more balanced approach, focusing on tried-and-tested technologies, economic growth, and innovation. This would ensure reliable, affordable energy for all, while still addressing environmental concerns in a realistic and economically sustainable way.<\/p>\n\n\n\n

HT\/resourceguy and Richard<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The stunning 37% plunge in Siemens Energy\u2019s stock value\u00a0should serve as a reality check for climate change alarmists. The cause, an escalating crisis in their wind turbine division, shows us that massive resources are being poured into a sector that is, in many ways, still uncertain and unproven.<\/p>\n","protected":false},"author":121246920,"featured_media":263883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818056,691818128,691820488,691818181,691820487,691820489,691818299],"class_list":["post-263878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-climate-change","tag-energy","tag-green-technology","tag-renewable-energy","tag-siemens","tag-siemens-energy","tag-subsidies","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0image-siemens-gamesa-113028.jpg?fit=2000%2C1125&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-16E6","jetpack-related-posts":[{"id":285815,"url":"https:\/\/climatescience.press\/?p=285815","url_meta":{"origin":263878,"position":0},"title":"Siemens Energy\u2019s Green Dream Meets Reality: Renewables in Distress","author":"uwe.roland.gross","date":"10\/30\/2023","format":false,"excerpt":"Things are so bad Olaf Scholz, Chancellor of Germany has even said Siemens Energy is \u201cvery important\u201d.\u00a0 Apparently talks are \u201cintensive\u201d, which presumably means the company is on death\u2019s door and the German government is being asked to help save it. From Watts Up With That? From ZeroHedge In a\u2026","rel":"","context":"In \"Germany\"","block_context":{"text":"Germany","link":"https:\/\/climatescience.press\/?tag=germany"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":287785,"url":"https:\/\/climatescience.press\/?p=287785","url_meta":{"origin":263878,"position":1},"title":"Germany To Bail Out Siemens\u2019 Struggling Wind Turbine Division","author":"uwe.roland.gross","date":"11\/13\/2023","format":false,"excerpt":"Siemens Energy, facing significant losses, is in talks for up to 15 billion euros in guarantees, with the German state covering 80% of the initial funding. Siemens AG shares have plummeted over 70% since mid-June, with the company abandoning its 2023 profit outlook due to challenges in its wind turbine\u2026","rel":"","context":"In \"\u00d8rsted\"","block_context":{"text":"\u00d8rsted","link":"https:\/\/climatescience.press\/?tag=orsted-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":263965,"url":"https:\/\/climatescience.press\/?p=263965","url_meta":{"origin":263878,"position":2},"title":"Wind costs will remain high","author":"uwe.roland.gross","date":"06\/26\/2023","format":false,"excerpt":"The crash in Siemens Energy\u2019s share price on Friday has admirably highlighted an issue with wind costs that colleagues and I have been examining for more than a decade. The painful facts are that (i) wind generation, both onshore and offshore, is more expensive than we are being told and\u2026","rel":"","context":"In \"Costs\"","block_context":{"text":"Costs","link":"https:\/\/climatescience.press\/?tag=costs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":285565,"url":"https:\/\/climatescience.press\/?p=285565","url_meta":{"origin":263878,"position":3},"title":"Wind-power Investors abandon Siemens Energy \u2014 another shocking 37% fall, and it\u2019s not alone","author":"uwe.roland.gross","date":"10\/29\/2023","format":false,"excerpt":"Shares of Siemens Energy crashed 37% in Germany.\u00a0The German company said, \"The Executive Board is evaluating various measures to strengthen the balance sheet of Siemens Energy and is in preliminary talks with different stakeholders, including banking partners and the German government. From JoNova By Jo Nova Marketing fantasies from the\u2026","rel":"","context":"In \"\u00d8rsted\"","block_context":{"text":"\u00d8rsted","link":"https:\/\/climatescience.press\/?tag=orsted-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/0image-siemens-gamesa-113028.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":267610,"url":"https:\/\/climatescience.press\/?p=267610","url_meta":{"origin":263878,"position":4},"title":"Crash Test Dummies: Wind Turbine Maker Siemens Suffers Massive Share Price\u00a0Slump","author":"uwe.roland.gross","date":"07\/15\/2023","format":false,"excerpt":"The world\u2019s wind turbine makers are bleeding cash; none of them are capable of turning a profit and all of them are facing financial ruin.","rel":"","context":"In \"CO2\"","block_context":{"text":"CO2","link":"https:\/\/climatescience.press\/?tag=co2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0Screenshot-2020-12-23-at-1.46.47-AM-1536x895-1.png?fit=1200%2C699&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0Screenshot-2020-12-23-at-1.46.47-AM-1536x895-1.png?fit=1200%2C699&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0Screenshot-2020-12-23-at-1.46.47-AM-1536x895-1.png?fit=1200%2C699&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0Screenshot-2020-12-23-at-1.46.47-AM-1536x895-1.png?fit=1200%2C699&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0Screenshot-2020-12-23-at-1.46.47-AM-1536x895-1.png?fit=1200%2C699&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":333274,"url":"https:\/\/climatescience.press\/?p=333274","url_meta":{"origin":263878,"position":5},"title":"Siemens Sinks: Germany\u2019s Top Wind Turbine Maker Sacks 4,100 Workers\u00a0Overnight","author":"uwe.roland.gross","date":"06\/19\/2024","format":false,"excerpt":"Remember how the wind and solar industries would create hundreds of thousands of highly-paid groovy \u2018green\u2019 jobs? No? Well, as it turns out, the few (highly subsidised) jobs created are disappearing like the sun over the horizon. Although, for the axed workers, there will be no reappearance the following day.\u2026","rel":"","context":"In \"Chief Executive Jochen Eickholt\"","block_context":{"text":"Chief Executive Jochen Eickholt","link":"https:\/\/climatescience.press\/?tag=chief-executive-jochen-eickholt"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/263878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=263878"}],"version-history":[{"count":5,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/263878\/revisions"}],"predecessor-version":[{"id":263885,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/263878\/revisions\/263885"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/263883"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=263878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=263878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=263878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}