The largest manufacturer of wind turbines in the world is going to close its only factory in Britain. Is it because the company, Vestas, isn’t profitable? No – the firm’s quarterly profits have risen by 70 percent.
Outrageously, it is because the company isn’t convinced that the profits will continue. It claims that the demand for wind farms is falling.
How can this be? World leaders, including Gordon Brown, have agreed to increase the energy from renewable sources. Shouldn’t this mean an increase in investment?
The closure of the Vestas plant on the Isle of Wight shows the utter irrationality that drives the “free market”.
Around 600 jobs will be lost if the plant closes. We need clean energy and we need jobs. Yet both are under threat because production is not based on what people need – it is based on making money.