Investor in Dominion Wind Buys $150M Island

Experience in Iowa just proved this earlier destruction of an onshore turbine was a harbinger of things to come. See below.

By Steve Haner

One of the leaders of investment firm Stonepeak, which is buying a 50% share in Dominion Energy’s Virginia Virginia Beach wind project, just bought a private island.  The story is reported by the New York Post, which mentions his role in the major investment firm but doesn’t make the connection to the 176 turbines now under construction.

I’d love to share the photos but don’t want to test the copyright limits. Check out the story and luxury home pics on the Post website yourselves.

I’m sorry, aren’t we being told that we have to have that multi-billion dollar boondoggle to protect us from a horrible future destroyed by climate change? That without offshore wind displacing natural gas, the sea will rise faster than a soufflé and hurricanes will be more frequent and far more powerful? This bright guy getting rich off Virginia ratepayer money doesn’t seem to buy that hype.

To be fair, the deal between Dominion and Stonepeak is still under review at the State Corporation Commission. Stonepeak has plenty of other profitable investments that paid for this house.

Both this gent’s new house in Florida and the Dominion project are in hurricane-vulnerable waters, of course. But this underlines another key insight, which all must always remember. If and when a hurricane damages or destroys those turbines, all the financial impact will fall on ratepayers. He’ll keep the house. 

The major tornados in Iowa this past week took out several onshore wind turbines. The video is stunning. The Associated Press, paid mouthpiece for the climate fear industry, assured us it was a rare occurrence.

Yet we are also told this will be a record bad hurricane season, due to what is now routinely called “global heating.” Tornadoes cut a narrow swath. A hurricane imposes its incredible winds and wind shear on far more territory. Fear not, though, your Dominion and Stonepeak investments are protected if you are among that elite.

The same newspaper this week had a wonderful story about a poll, done by of all things a mattress company, on public fears about the climate catastrophe. A sample of 5,000 Americans revealed that 48% expect the planet to be devastated by climate change within their lifetimes. Half of Americans! The daily, constant drumbeat of media hype and miseducation has taken deep root.

The methodology and questionnaire on the poll might call it into question. Definitely ignore state-specific results based on 100 responses. But I do not doubt that it is generally accurate. There are multiple millions who actually believe that nonsense. More important, there are multiple millions more who know far better, but are willing to make as much money as they can off the suckers, or are willing to posture for votes and to demonize anybody who shouts that this emperor is naked.

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5 responses to “Investor in Dominion Wind Buys $150M Island”

  1. Hey, Steve, if hurricane winds and floodwaters destroy the house, federal flood insurance will pick up the tab! Climate-change hypocrisy is subsidized by Uncle Sam.

    1. CJBova Avatar

      “Myth: Wind-driven rain is considered flooding.

      “Fact: While flood insurance policies specifically exclude wind and hail damage, most homeowners’ policies include this coverage. Rain entering through wind-damaged windows or doors or holes in walls or the roof resulting in standing water or puddles is considered windstorm rather than flood damage. Federal flood insurance typically covers water that comes up from the bottom and enters your home from outside.”

  2. Nancy Naive Avatar
    Nancy Naive

    Wait. But isn’t that the goal of the free market? Obvious reference to Donne foregone.

    Rich envy? Rich.

  3. LarrytheG Avatar

    I guess the thing about the US signing on to the rest of the world to address the Ozone Holes was also a bad idea? I’m thinking that’s where the deniers first got going good.

  4. LarrytheG Avatar

    If one looks at how much power computers used to need to operate versus now – it’s plummeted.

    When I started work ,we used an IBM 7090 then a CDC 6700. Both of them needed a huge air-conditioned room and needed a separate electricity feed. Today, a basic laptop has equivalent computing power for the energy use of a 25 watt light bulb.

    Look at your first HVAC systems that used far more electricity than current ones.

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