Clinton ‘Trumped’: Vestas’ Shares in Freefall & Wind Industry in Full Scale Panic

vestas-share-slump

The election of Donald Trump has caused conniption fits amongst the hard green-left in the United States and elsewhere. Pundits predicted, with supreme confidence, that Hillary Clinton would take the White House and that all would be well in the politically correct garden.

However, America’s “basket of deplorables” had other ideas: a brash and vulgar businessmen, more famed for his line “you’re fired” on the reality TV show, The Apprentice, Trump not only won convincingly, the Republican Party increased its majority in the House and retained its majority in the Senate. Oops!

Donald Trump has made no secret of his plans to scrap a raft of “job destroying” policies invented by climate change Chicken Littles; and his hatred of these things goes back a decade to the bitter feud he has been in with a wind farm developer attempting to spear 11 turbines off the coast adjacent to his golf resort in Aberdeen Bay Scotland.

With Trump announcing policies directed at slashing energy prices, in order to make American industry and manufacturing competitive again, it’s a pretty fair bet that wind power is unlikely to win the kind of ‘favour’ that it was guaranteed to get from a Clinton administration; and the market knows it.

In an ‘oh dear, how sad, never mind’ turnaround, the shares of renewable subsidy-suckers – like struggling Danish turbine maker, Vestas – have taken a pounding.

Coal Resurgent, Renewables in retreat after Trump win
Global Warming Policy Forum
Javier Blas and Anna Hirtenstein
9 November 2016

If you want a snapshot of what the global energy map will look like under President Donald Trump, look no farther than the stock market. As coal enjoys a comeback, the biggest loser could be fight against climate change.

Glencore Plc, the world’s top coal trader, surged more than 5 percent on Wednesday. Vestas Wind Systems A/S, the world’s biggest wind-turbine maker, plunged as much as 13 percent. The swing foretells a story of fossil fuels making a comeback, while the fight against climate change — and investment in wind and solar power — languishes.

“De-carbonisation, which has been the organizing principle of Obama’s energy policy, came to a screeching halt last night,” said Bob McNally, president of consultant Rapidan Group in Washington and a former senior energy official at the White House under Republican President George W. Bush.

In his only major energy policy speech ahead of the elections, Trump said that he would rescind “job-destroying” environmental regulations within 100 days of taking office and cancel the climate deal reached last year in Paris.

“A Trump administration will focus on real environmental challenges, not the phony ones we’ve been looking at,” Trump told supporters in May in North Dakota, the birth-place of the U.S. shale revolution.

To be sure, Trump has offered few clues on how he plans to implement his plans. Energy and climate policy has taken a back-seat to immigration, the economy and debate about the candidate’s fitness for office. And some of his proposals are contradictory, like his pledge to boost both natural gas and coal, two fuels that compete against each other in the power generation market.

Yet, few doubt who’s likely to win and lose, particularly as Trump can rely on supportive lawmakers in Congress to push his agenda.

“The result is undoubtedly a blow for the renewable energy industry,” said Matt Loffman, an analyst at energy consultant Douglas-Westwood in Houston. “The historic election result is perhaps welcome news for a hydrocarbon industry that has been on the ropes for over two years.”

Coal prices already are enjoying a renaissance after China, the world’s largest consumer, cut domestic production, forcing power plants to buy overseas. The cost of thermal coal in the Australian port of Newcastle, a benchmark for Asia, has more than doubled since January to a four-year high of $114.75 a ton.

Shares of big coal miners such as Anglo American Plc, BHP Billiton Plc and Rio Tinto Plc rose between 2 percent and 4 percent on Wednesday. Wind turbine makers Gamesa Corp. Tecnologica SA and Nordex SE fell. Solar panel makers plunged in New York, led by SunPower Corp., First Solar Inc. and Canadian Solar Inc.
GWPF

vestas-share-price-year

In the graph above, it’s pretty evident that in the run-up to the election investors saw Vestas as a surefire bet, given their obvious expectation of a Clinton win. However, as they say in the trenches “no battle plan survives contact with the enemy”. And the wind industry has clearly won an enemy for life in the shape of Donald Trump.

Donald Trump wins: Shares plummet for biggest wind turbine company as result throws renewable energy future into doubt
The Independent
Ben Chapman
10 November 2016

President elect has pledged to back fracking and coal but manifesto makes no mention of green power

Shares in the world’s biggest maker of wind turbines plunged amid fears that a Donald Trump presidency will be disastrous for the renewable energy industry.

Danish firm Vestas fell as much as 14 per cent before regaining some losses to trade 6.6 per cent lower at 440.20 kroner (£52.60). Vestas shares had already lost ground as the race tightened in the days before the vote.

Wind turbines are given generous subsidies in the US, as the world’s biggest per-capita polluter attempts to reduce its carbon output. However, Mr Trump’s aggressively pro-business, anti-government stance puts any government assistance under threat.

Mr Trump’s manifesto promises an “energy revolution” which he will bring about by unleashing “America’s $50 trillion in untapped shale, oil, and natural gas reserves, plus hundreds of years in clean coal reserves”.

Mr Trump has also committed to “open onshore and offshore leasing on federal lands, eliminate moratorium on coal leasing, and open shale energy deposits” and, “encourage the use of natural gas and other American energy resources that will both reduce emissions but also reduce the price of energy and increase our economic output.”

The manifesto goes on to say that Mr Trump will “reduce all barriers to responsible energy production,” leading to cheaper energy, an example of which it cites as Barack Obama’s standards designed to reduce methane emissions.

Removal or reduction of renewable subsidies would hit Vestas and other green energy companies severely.

“The Vestas share reaction is a result of concerns that Trump will focus more on fossil fuels,” Otto Friedrichsen, equity strategist at Formuepleje, said.  “Now there’s concern how Vestas will perform in the US under a president who’ll be more interested in looking out for the country’s coal industry.”

According to an Ernst & Young LLP survey published last month, the US stands to lose its position as the top-ranked renewable-energy market for investors under a Trump administration.

Mr Trump has made clear “he hates wind turbines and will do what he can to fight them,” Jacob Pedersen, head of equity analysis at Sydbank, said earlier this month.
The Independent

panic-disorder-971

FFS .. my Vestas’ shares did WHAT? What happened to Hillary?

***

In the aftermath of the election, STT couldn’t help but chuckle at exhortations from the likes of Greenpeace & Co and other wind cult acolytes that the incoming President will be powerless to unwind the UN Paris Climate Agreement, railing that the Agreement is already “in force” (see this ‘stamp your feet and hold your breath’ rant from wind-cult central, the ABC).

STT is left somewhat bemused, wondering at the number of Divisions at the disposal of the UN, the size and strength of the UN’s Navy and Air Force and what would happen to it if the United States of America decided to stop throwing $billions at the UN every year, draining the financial swamp upon which the UN’s brand of ‘ram-it-down-their-throats’ eco-fascism critically depends?

The Paris Climate Agreement may well be “in force”, but who on Earth is going to enforce it? The French? The Chinese? Djibouti?

Trump, as President and Commander in Chief has the option of simply ignoring the job and wealth destroying strictures of an extraterritorial policy deliberately designed to cripple energy hungry businesses, such as manufacturing, mining and mineral processing; and which comes with the naked and monstrous objective of driving the poor even deeper into poverty, no matter where in the world they live. Remember, it was out of work auto workers in Wisconsin and out of work steelworkers in West Virginia, Pennsylvania and Ohio who helped put Trump in the White House.

Trump does not need to rescind America’s commitment to the Agreement, all he needs to do is scrap the domestic legislation put in place that would follow it: policies such as the Production Tax Credit that flows to wind power outfits, making ‘profitable’ that which would otherwise never find a market; because it can never be delivered on demand, a product with no commercial value.

With Republicans firmly in control of Congress, and a President hostile to the infantile nonsense of subsidising a power source that was abandoned centuries ago for pretty obvious reasons, the wind industry in America is as good as doomed.

God bless America’s “basket of deplorables”.

deplorables

About stopthesethings

We are a group of citizens concerned about the rapid spread of industrial wind power generation installations across Australia.

Comments

  1. Hi,

    I started a PETITION “SA PREMIER JAY WEATHERILL : Demand the RESIGNATION of the Energy Minister for HIGH POWER PRICES CAUSING SA’s JOBS CRISIS and 15,000 household POWER DISCONNECTIONS, frequent POWER BLACKOUTS and the JULY 2016 POWER CRISIS” and wanted to see if you could help by adding your name.

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    You can read more and sign the petition here:

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    Please share this petition with anyone you think may be interested in signing it.

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  2. Ho Ho Ho early xmas

  3. Check out this latest development and the lively conversation that follows the article. It’s time for an unprecedented educational effort for everyone who still doesn’t ‘get it’.
    https://wattsupwiththat.com/2016/11/10/wuwt-climate-change-briefing-for-president-elect-trump/

  4. “so farewell then, climate change nonsense, plus you get the funeral you deserve”
    C. Booker, Daily Telegraph U.K. 13/11/16
    http://www.telegraph.co.uk/news/2016/11/13/so-farewell-then-climate-change-nonsense-plus-you-get-the-funera/

  5. Jackie Rovensky says:

    I realize people are upset with Trumps lewd and loutish behavior toward women, but please I hope this site is not going to go down the path of allowing sidetracking. It is a site devoted to the fight to rid our world of Industrial Turbines and hopefully it will not delve into issues of no relevance. Yes of course we need to look at Trump’s views – but only where they concern the purpose of this site. If his decisions are influenced by his lewd and loutish behavior then yes we should discuss the implications but not if it has no effect on our aims.
    The demise of Vesta would be an outstanding outcome, fracking would not be a good outcome for anyone, but updating energy production of coal to reduce carbon emissions would be. The implementation of other measures to reduce emissions and to clear what are already in the atmosphere would be a good outcome.
    The cessation of stories that battery storage for excess wind energy, would be a good outcome. After all even if they did in the far distant future create a battery storage system that could store it – where would the energy come from once the battery’s had been depleted and the wind wasn’t blowing?
    The demise of those who believe in fairies at the bottom of the garden or swinging from ‘gently’ turning turbine blades would be beneficial to all those who are suffering from the damaging noise of these turbines.
    The demise of those who would destroy environments, eco-systems and the beauty of our landscapes would be beneficial to the world we live in and its future.
    There are so many things to be discussed and hoped for and if Trump can bring some leadership to bringing these about then so be it.
    So lets discuss and promote the outcomes we are looking for no matter where we live and keep the pressure on those who make the decisions while increasing working to secure media coverage and support of our concerns.

    • Brian Johnston says:

      Jackie
      You suggest reducing carbon. I presume you mean carbon dioxide. We want the CO2 to go up not down
      Brian J

  6. I can hardly contain my enthusiasm, gotta love Ted Nugent!

  7. More worrying is the anti Trump demonstrations occurring now.
    George Soros is paying for demonstrations against Trump Presidency.
    George Soros is the multi billionaire hedge fund owner.
    Hedge funds only make money when the economy is forced into crisis mode.
    He became famous 20 years ago by driving the British Pound into devaluation.

  8. Without the US on board with climate change, other countries will give it up as well. Nobody elected this hypocrisy group of little dictators. I wonder if the issue really did come down to, for or against climate change. After all most of the people leaving the exit polls had to have been lying and for good reason. The media and others let it be known they were anti Trump and weren’t above belittling, intimidating or trying to force you into thinking otherwise.
    I have a new label now, deplorable. You always have to consider this source. One label I will never have is communist. So when a communist calls me a name, they probably have an agenda.
    That’s a nice poster by the way, Les Deplorables .

    • I wish you were correct, but look at what we’re dealing with in Canada.
      JustinTrudeau has vowed to go ahead with carbon taxes.
      http://www.cbc.ca/news/politics/trump-environment-energy-ambrose-1.3845889
      In Ontario, Kathleen Wynne is still determined to proceed with carbon tax.
      This is beyond ridiculous. We need help!

      • Canadians need to stop being so nice and become deplorables, too.

      • Trump winning was totally unexpected. I don’t think anybody in the western world likes what’s being forced on us. We will see if he lives up to it or its just so much political posturing. In those nothern states that voted for Trump is right next door to Canada. It gets cold there, and every trade agreement that has been made sees another factory closed. Obama ran on a campaign of reversing this. He didn’t live up to it either. They start slapping a carbon tax on fuel you need to survive, I wonder how long that government will last.

  9. Crispin Trist says:

    Here’s hoping that the Global wind industry finally hits the buffer stops.

    Here’s hoping that Australia’s Very Fast Train doesn’t!

    I overheard the BBC World Service interviewing the ABC (Australia) today discussing ways that the Climate Change Lobby might work around the Trump effect, suggesting that the individual States in both America and Australia consider persuing their own RET’s. The reporter in Canberra boasted that the ACT is aiming for 100% renewables in 3 years. Hmmm… interesting. Does that mean that the ACT are about to disconnect from the National grid? In light of the recent State wide blackouts over in South Australia, of which the ABC reporter rather conveniently made no reference; I think not.

    • It is apparent that the markets aren’t so keen on backing the wishful thinking of the Washington insider in the story you linked. The Republicans have been hoping to scrap the PTC for years:

      https://stopthesethings.com/2015/05/02/us-republicans-line-up-to-can-subsidies-for-wind-power-2/

      Now they get their chance. Washington insiders hoping to keep the renewable gravy train flowing didn’t vote for Trump, out of work steel workers did. Trump, like all Presidents, will want a second term which depends on the same votes he won this time. He will not keep those people on side if it’s business as usual. But the real question is, are you buying shares in Vestas?

  10. !!!! TRUMP !!!!
    WE WON, now we must fight harder to stop these things!

  11. Now all we need is for Pauline to step in and take a stand against these corrupt windweasel scumbags and all this wind nonsense crap will be buried for good one would hope, so come on Pauline’s One Nation you have a lot of people backing you.

  12. Reblogged this on WeatherAction News and commented:
    Subsidy siphoners suddenly sick

  13. Brian Johnston says:

    Why is this site calling Donald Trump brash and vulgar? His win should see the demise of windmills. Australia should be fighting to keep Holden and Ford going and to maintain an industrial base.

    • Bragging about grabbing women by the pussy earns that tag. What would you call it? Trump will be sworn in on 20 January next year, we hope he behaves like a President should. Killing the wind industry is one thing, acting with decorum and civility another. Let’s see how he goes on both scores.

      • Actually, He was bragging about how ” the elite Hollywood players could do that, without recourse, because some brain dead chick thinks that the only way to the top is “letting that happen” to gain a footing in their beloved Hollywood base.
        In the video presented by the media, I did not see the young woman refrain from letting Billy Bush hug her and it was her arms reaching out to walk away with two men on her side.
        If you just think for one minute, how many women in the past would give up their dignity to this kind of behavior, only the ones interested in money. And Donald knows it, just like all those others know it.

      • Grahame Booker says:

        After all we don’t need another Bill Clinton do we.

      • Agree. Whitewater Bill helped push America down the subsidised renewables path, and Obama cranked it up to the point of insanity. At least we won’t get John Podesta, eco-fascist in chief, anywhere near the White House. We wish Donald Trump the best of luck in dismantling the renewables gravy train.

      • I believe the brag was that he could. No evidence that he did.

      • catweazle666 says:

        “acting with decorum and civility another”

        You mean like those paragons of virtue John F Kennedy and Bill
        Clinton?

      • No, like George Washington, Abraham Lincoln, Dwight Eisenhower, Ronald Regan … Need we go on. Hillary Clinton is a despicable, compulsive liar who insiders describe as a predatory lesbian. But that doesn’t make Trump Mother Teresa.

      • catweazle666 says:

        “But that doesn’t make Trump Mother Teresa.”

        I never said it does.

      • No, true, you didn’t. We wrote in response to Brian Johnston criticising us for describing Donald Trump as’brash and vulgar’, that:

        Bragging about grabbing women by the pussy earns that tag. What would you call it? Trump will be sworn in on 20 January next year, we hope he behaves like a President should. Killing the wind industry is one thing, acting with decorum and civility another. Let’s see how he goes on both scores.

        You then ran the line that, where we hoped that Trump acts like a president should, we meant in the manner of ‘paragons of virtue John F Kennedy and Bill Clinton’.

        John F Kennedy’s extramarital activities were something that he managed to keep from the public gaze before and after he became president. We would be interested to see if you can find a public statement attributed to Kennedy equivalent to Trump’s claims about “moving on a married woman” and bragging about the ability of his class of operator being able to “grab a woman by the pussy” and get away with it?

        In terms of extramarital dalliances, Kennedy and Clinton were probably on a par. However, Clinton operated in a time when the media were a whole lot more ruthless and cynical than they were in the early 1960s; and the social and political climate was a whole lot different in 1963. Lyndon B Johnson was later equally renowned for his extramarital activities, but the press left him alone while he was in office.

        Our point about Trump’s less admirable qualities (particularly in comparison with statesman like Washington, Lincoln, Eisenhower and Regan) is that the political climate in America has apparently become so partisan that arch conservative Christians and evangelicals are able to overlook the glaring character of faults in Trump, principally because what they saw with Hillary Clinton and the system which created and sustained her was even worse.

        From a number of the comments on this post it is evident that plenty of Trump supporters are highly sensitive to any criticism of their candidate. No doubt that sensitivity was informed by having the American media gang up on Trump and make him look like a maniacal, racist, bigoted zealot; his unscripted comments gave them plenty of ammunition.

        From an Australian perspective, where by comparison with the last US presidential race our politics is played much more sedately, Trump is brash and vulgar and we stand by that description. However, STT is delighted at the prospect of a relative political outsider becoming president of a Nation that drives the world, socially, culturally and economically. We hope for America’s sake that Trump lives up to at least some of the promise he has given a disaffected and forgotten people that he can Make America Great Again.

        God bless America!

      • Stop, can you tell me that you have never participated in “locker room” talk? I eagerly await your reply.

      • Yes, in a locker room, not in a tour bus with a journalist recording every word for the purpose of a TV show.

      • Trump thought they weren’t recording at the time. It was locker room talk.

        Hillary, OTH, covered up Bill’s “indiscretions through public denials and attacks on his accusers. Her actions towards women were far worse than Trump’s.

        And she would have plastered the USA with wind turbines and solar panels until the economy broke.

      • Cough, cough…..
        One little tiny disagreement STT….
        “”Yes, in a locker room, not in a tour bus with a journalist recording every word for the purpose of a TV show.””

        Mr. Billy bob Bush is not a journalist, he’s a Hollywood Entertainment ‘journalist’. Not a real one………LOL !

      • And that excuses it?

      • No, no STT, total misunderstanding.

        Of course it does in-no-way excuse it from any person, in any way, shape, or form.

        I only meant, Billy Bush is an ‘entertainment host’ (is host a better word) he is not a journalist.

        I guess my definition of a journalist would be more along the lines of Clark Kent, an old fashion reporter, reporting newsworthy articles, not reality tv. about the Hollywood Life.

      • Point taken, we wish Trump well, but hope he can lift his tone and make America great again. Starting with scrapping subsidies for wind power and slapping decent noise rules on those that are presently destroying the ability of people to live and sleep in their own homes.

  14. Reblogged this on Tallbloke's Talkshop and commented:

    The winds of change…

  15. Reblogged this on Climatism and commented:
    “Mr Trump has made clear “he hates wind turbines and will do what he can to fight them,” Jacob Pedersen, head of equity analysis at Sydbank, said earlier this month. – The Independent”

    👏👏👏

  16. Michael Crawford says:

    Since the Paris agreement was never put to the US Senate to be ratified as a treaty, as the US Constitution requires, it is simply an agreement between Mr Obama and sundry dumbos around the world, including our own Magnificant Malcontent. Since it is not a treaty involving the US, President Trump is legally fully entitled to ignore it — and will because his focus is on rebuilding US industry and good jobs in the heartland.

    Perhaps the aggrieved parties can sue Mr Obama. However, since all of them knew the US Constitutional requirements for a treaty involving the US, any suit is going to have to get past their own complicity in an act they knew had no legal standing in the US except the temporary concurrence of the President in office at the time.

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