Mythical pot at end of rainbow – Shetland Times

Ever since the Viking Energy project was first mooted it has been my
considered opinion that it had the potential to be a financial disaster for
the people of Shetland.

As time passes all I see is loss of income and the likelihood of crippling
debt.

Leaving aside all other considerations, the destruction of a unique
landscape, the impact on all the folk unfortunate to live in proximity to a
massive wind turbine, the loss of value in their homes, health
considerations and the impact on wildlife, just consider the picture of a
pot of gold waiting to be picked up virtually without any Shetlander
lifting a finger to gain enormous wealth without effort.

This is the picture as presented by the supporters of the scheme. It is
more likely that the pot of gold will turn out to be just that, a mythical
pot at the end of a rainbow.

Consider the facts. To date the Shetland Charitable Trust has spent, I
cannot say invested, around £12 million of the people of Shetland’s money
into Viking Energy.

It is still possible to achieve an income from stock market shares of four
per cent net of tax. With £12 million at four per cent = £480,000 a year,
therefore Shetland has already lost, say in five years, almost £2.5 million.

And how long is it going to be before Viking Energy produces a profit if
the windfarm is ever built? And that is a very big “if”.

Has it escaped the notice of the charitable trust that quietly all over the
world more and more electricity is being produced from turbines mounted on
the seabed using the utterly dependable source of tidal power?

I suggest that the future sources of renewable energy, guaranteed and
totally reliable as long as there are tides, will represent the future, not
wind power which is becoming more and more discredited on grounds of cost
and dependancy.

Dreams can be attractive and the wish for a pot of gold to solve all
problems has been around for a long time. But remember that some dreams
turn into horrendous nightmares.

I suggest that the charitable trust offers its stake in Viking Energy for
sale on the open market and find out how attractive their investment
actually is to worldwide professionals, not local amateurs, however well
their intentions.

Allan Pring
(formerly Dunrossness)
Eastbourne,
Kent.