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Mafia Muscling In On Renewable Energy Industry
Law enforcement sting operation in Italy a warning for US, writer suggests
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by David Mark
Image: AP
That's a nice wind turbine you've got there. It'd be a shame if something happened to it.
Authorities recently swept across Sicily in a wave of sting operations revealing years of deep infiltration into the renewable-energy sector by Italy's rapidly modernizing crime families, The Washington Post reports.
"The still-emerging links of the mafia to the once-booming wind and solar sector here are raising fresh questions about the use of government subsidies to fuel a shift toward cleaner energies, with critics claiming that huge state incentives created excessive profits for companies and a market bubble ripe for fraud."
Italian Mafioso's' scheming provides a cautionary tale for the burgeoning American renewable energy industry, writes The American Thinker's Rick Moran. "In the US, we don't need the mafia to rob us blind. All we need is Barack Obama and his clueless energy department to throw loans at Obama cronies who are running green schemes with little or no hope of profitability. Flawed business plans and mismanagement, not to mention misreading the market, all combine to condemn taxpayer dollars to oblivion once failure is inevitable and bankruptcy occurs."
"The stim bill threw $80 billion at renewable energy companies. How much of that went down a rabbit hole and into the pockets of corrupt businessmen who laughed all the way to the bank? We almost certainly will never know."
Via The Washington Post and The American Thinker.
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