Letters / Renewables bubble
Financial ‘experts’ value the ‘virtual’ social network Facebook at 100 billion dollars – rather a lot for a company that produces nothing!
Obviously they have short memories.
They have forgotten how stock markets crashed and the something for nothing, ‘let’s get rich quick’ investors, who drove up the share values, lost billions when the ‘dot-com bubble’ burst.
Financial ‘experts’ value the ‘virtual’ Viking Windfarm at £388 million – rather a lot for a company that produces nothing!
Obviously the Shetland Charitable Trust’s advisors and ‘let’s get rich quick’ windfarm supporters have forgotten the first rule of investing, namely that the value of your investment can go down as well as up and you may get back less than you invested.
If the windfarm is built and the subsidy-driven renewables bubble bursts, it will be the SCT’s millions that are lost.
By putting all Shetland’s nest eggs in the Viking Energy basket Shetland will run the risk of joining the long list of spectacular financial failures of public money ‘investments’.
Anybody remember safe bets made by local authorities such as BCCI, Iceland banks, etc?
Allen Fraser
Meal
Hamnavoe
Burra
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