What about Bob’s environmental destruction projects, aka "green, renewable energy" ventures? Bob is a big believer in "climate change," and in developing projects that the federal government likes funding. Remember Barack Obama’s quote: "Energy costs will soar….." (GET QUOTE.)
That’s because biomass, solar, and wind energy are inefficient and unprofitable. Enter the government. Subsidies, tax credits, government guaranteed loans, higher SRP and APS rates, solar energy credits.
So far, Worsley’s first venture, Renegy Holdings, Inc., was a disaster. This is the BIOMASS energy company that he ran into the ground. If you stand back a moment and simply look at it, it never could have succeeded, ever.
NETTING IT OUT.
First, what’s biomass? That’s a leftist way of describing "sticks and weeds." It’s "organic" material. It can be sludge, too, lots of other burnable stuff. And how do you create energy to sell to SRP and APS? You burn it in a sort of "enclosed campfire."
So, you gather sticks and weeds, logs, and forest debris into enormous piles in one of the best known places for some of the most incredibly destructive fires in the entire world: THE ARIZONA FOREST NEAR Show-Low, Snowflake, Linden.
RENEGY FIRES.
In April 2007, Renegys enormous piles of "fuel" caught fire. The fire went on through June. This "green, renewable" source of energy required 3 different fire departments. They couldn’t put it out. It needed burying. "You could see the smoke from Linden." The winds caught some junipers on fire.
DOES ANYBODY SEE A PROBLEM YET?
RENEGY’S TIMELINE FROM ITS 2006 $39.250 M BOND, UNTIL ITS BANKRUPTCY IN 2010.