Bloomberg-Funded Eco-Town Admits Defeat

Bloomberg-Funded Eco-Town Admits Defeat

August 30, 2019

Georgetown, Texas gained fame last year for committing to 100% renewable energy. They even got Michael Bloomberg in on the action, with Bloomberg philanthropies agreeing to fund the city with a $1 million grant.

But as is the case with implementing extreme eco-policy, it never works. The project was a complete disaster, and now it’s officially over, with the city council voting unanimously to end the project.

As Fox News explains, Georgetown, Texas’ plan was to “generate all of its electricity from wind and solar power.” It gained national attention because of the city’s location in oil-rich Texas, and because the town was Republican.

Unfortunately for the mayor trying to gain fame based on eco-policies, political promises don’t make economic reality.

The city’s utility faced a “$7 million shortfall,” due because so-called “green” energy does not work at the scale of a city of 75,000 people.

Now, the deal is dead, and the city is raising property taxes.

In the end, it’s not the eco-billionaires like Bloomberg who pay. Bloomberg is getting his grant money back. No, it’s the people left in the town who must pick up from the ashes, while billionaires like Bloomberg hop between their mansions without a care in the world.

If Michael Bloomberg truly cared about the citizens of Georgetown, Texas, he’d make up the shortfall himself.

Will he do the right thing? Doubtful.