Hugh Pickens writes: "The Wall Street Journal reports that Chinese banks will provide $1.5 billion to a consortium of Chinese and American companies to build a 600-megawatt wind farm in West Texas, using turbines made in China. “This wind farm project came about thanks to the openness of the United States for investments in the field of renewable energy,” says John S. Lin, chief operating officer of A-Power Energy Generation Systems, which is part of the consortium building the project. The wind farm will be built on 36,000 acres in West Texas, and will use 240 2.5-megawatt turbines providing enough power to meet the electrical needs of between 135,000 and 180,000 American homes. The wind farm will be the first instance of a Chinese manufacturer exporting wind turbines to the United States, says Yang Yazhou, vice mayor of the city of Shenyang, where the wind turbines will be manufactured. Cappy McGarr, managing partner of US Renewable Energy Group, a private-equity firm that is lead partner on the 600-megawatt development, says the partnership will seek tax credits and support from the federal stimulus package, which should amount to millions of dollars. McGarr says the project should create 2,800 jobs — of which 15% would be in the US and the rest in China, where Shenyang employs 800 people. The project a "win-win-win for everyone. We're two great countries and we need to work together," says McGarr. China aims to be the front runner in wind- and solar-power generation and Thomas Friedman writes that China's decision to go green "is the 21st-century equivalent of the Soviet Union's 1957 launch of Sputnik.""
Advertising is a valuable economic factor because it is the cheapest
way of selling goods, particularly if the goods are worthless.
-- Sinclair Lewis