Monday, October 4, 2010

As I predicted on August 3rd in this blog, BrightSource Energy may be going public soon. Details and a possible solution for Ivanpah inside.

Thanks to Basin and Range Watch’s article for reminding me. Scroll down to the section
entitled BrightSource  secures solar farm approval, eyes IPO opportunity. They quote
this article from Business Green which is quoting sources from Dow Jones that say the
company has hired Morgan Stanley and Goldman Sachs, the giant Wall Street investment
bankers, to start the IPO process, that’s my interpretation of the article, see for yourself.

My August 3rd post can be read here but let me highlight the main part of the post where
I discussed this very topic below:

And mark my words folks, remember you heard it
here on Morongobill’s Backporch, their ultimate goal reachable through this stalking horse,
in my humble opinion, always was, has, and will be going public after building this
project or even mid way through it, and the accompanying billions of dollars that
will be made, especially by the investment bankers. Remember this as well, no
one would spend a penny of their own money on this boondoggle, if they had wanted to, it would have been built long ago- only the benevolence of Uncle Sam through you and me, their servants, the long pissed on and screwed tax payers, we are providing the 1.3 BILLION DOLLAR LOAN GUARANTEE that will enable them to get the project going, and utilizing that as a stepping stone to going public,
where the real money will be made.

In my opinion, they won’t offer the U.S. a cut of the money, nor will the government
ask for some of the money. See the fix is in, I can’t prove it but we’ll see the results
soon enough. Never fear though, lots of money will be spread around without a
penny of it going for a worthwhile purpose except to line certain peoples’ pockets.”
End of quoted text from my previous post of 8/3/2010.

There you have it, just as I predicted the first billions are about to be made- to be shared
by BrightSource, Morgan Stanley, and Goldman Sachs. Also don’t forget Google has a
major stake in BrightSource as well. Now factor in as I noted here on August 11, 2010,
that BrightSource Energy’s Australian subsidiary is heavily involved with the Beyond Zero
Emissions project, to the point of being prominently featured on page 4 of that report, it
seems patently obvious to this old country boy, that there has been some serious planning
going on, for a very long time, hell, John Woolard, their CEO says that in this video in a post I made on April 5th of this year, the good parts in the video start at 1min26seconds and Mr. Woolard’s comments on the planning process start around the 2minute mark, I
found it fascinating that he said they worked with PG&E for 2 years- this shows a seriousness of purpose and long term planning capability that I am sorry to say that we
all may have missed as we ramped up our opposition to the Ivanpah SEGS project.

I am going on record here today, that BrightSource Energy and in Particular, John
Woolard, have been and will continue to be a formidable foe- and for years to come. As I laid out in a here to for uncommented on post which I made in March 3rd of this year, the company definitely knows a thing or two about strategizing, as
in chess, see the details here. I may have been wrong on the exact details, but it
sure did work out like in the post I made.

Folks, I am not going to beat a dead horse here and regurgitate the arguments against the
Ivanpah project, I am going straight to the solution. This idea came to me in my sleep the
other night, I guess after reading different websites and news articles- the pieces kind of
slipped into place. Nor will I continue beating Zichella- Wald’s contributions to this debacle
like a drum, except to point out an obvious fact, at least to me, their working the
system inside the major carbonmental, excuse me, environmental groups, gave
the renewable energy firms a “green patina” and smoothed the way to the accomodation  between the greens, the feds, and the energy moguls. I believe that
is so obvious, it’s a “no brainer.”

Yesterday, I read Chris Clarke’s post about desert tortoise translocation is really extermination, sorry I am paraphrasing here, and the last piece of the puzzle clicked into
place for me.

Let me step back for a moment and say that we are at the critical mass period for this
green energy gold rush in the California deserts, the most important time speaking
strategically.
Archimedes is said to have commented, that with a bigger lever, he could move the world. That is how important this time, right now, is before the construction begins.

In my opinion, what is needed right now, is an infusion of money paid to the top NEPA
environmental law firm, to have a suit filed immediately, and to tie up these projects right
now. How can it be allowable under the Endangered Species Act and under NEPA, for
the desert tortoise’s to have a guaranteed 50%+ mortality rate? I am no lawyer, but that
”dress form” is suitable to dress out the most elegant gowns and rich clothing, in the form
of a lawsuit.

We have been sitting here, holding out hope that one of the major environmental groups
will have a change of heart, will come to their environmental senses so to speak, and file
a last minute law suit. Guess what, it ain’t gonna happen! Period!

This is what works for the right wing Republicans in politics, works everytime, and is backed up by Johnny Roberts and the Supremes, big money in the form of big right wing
billionaire donors. Surely someone out in the environmental activist community must know
of some well heeled, right thinking, environmentally conscious, desert loving millionaire
that could come to the desert’s defense. There has to be someone out there who fits the
bill.

In my opinion, this is our last, best hope of stopping the inevitable industrialization of the
Mojave and other wild places. I am not privy to the inner workings of the environmental
activist community, I have never met any face to face, but have emailed a few, and from
those emails and observing their efforts via web, lobbying etc; I believe they are doing
all they can.

Sometimes, what is needed is a different take on a problem, and sometimes, the obvious
solution is the right solution.

I have felt from the beginning, that the federal court system, might be our only hope here.
There has been this major rush to get it done, get it fast tracked, get the stimulus dollars
flowing, etc from the very beginning- what’s the big hurry, I always thought. But when you
looked at the problem from the right angle, it was patently obvious, it’s all about making
big money right now, whether the project is real or just another “pig in a poke.”

I say we rack our brains and find that “green knight to come to the Mojave’s rescue checkbook in hand”, to accomplish what the “major carbonmentalist groups won’t or can’t
do, file that lawsuit, stop these projects, and gain some valuable needed time to present
our case that distributed local power generation, is the logical and obvious choice to
provide green energy in an era of climate change, and of course, inflicting a defeat upon
the monied interests and energy promoters that won’t be forgotten for years to come.

Morongobill

 

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