• 6 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes WTI @ $75.75, headed for $64 - 67
  • 10 hours Satellite Moons to Replace Streetlamps?!
  • 4 hours U.S. Shale Oil Debt: Deep the Denial
  • 2 days US top CEO's are spending their own money on the midterm elections
  • 1 day EU to Splash Billions on Battery Factories
  • 7 hours The Dirt on Clean Electric Cars
  • 4 hours Owning stocks long-term low risk?
  • 2 days The Balkans Are Coming Apart at the Seams Again
  • 11 hours Can “Renewables” Dent the World’s need for Electricity?
  • 2 days Uber IPO Proposals Value Company at $120 Billion
  • 2 days 47 Oil & Gas Projects Expected to Start in SE Asia between 2018 & 2025
  • 2 days A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 2 days OPEC Is Struggling To Deliver On Increased Output Pledge
  • 22 hours The end of "King Coal" in the Wales
The Mini-Bear Market For Crude

The Mini-Bear Market For Crude

The hedge fund withdrawal from…

How OPEC Can Boost Its Spare Capacity

How OPEC Can Boost Its Spare Capacity

OPEC spare capacity has been…

The Mafia is Moving into Renewable Energy

Traditionally the mafia controls operations in gambling, prostitution, protection, extortion, and loan-sharking, yet recent evidence shows that they might actually be adding renewable energy to that list.

Italian police have recently discovered links between the Sicilian crime families known as the Cosa Nostra, and wind and solar power companies in the area. Law enforcement officers have taken around a dozen crime bosses off to jail, along with corrupt officials and company executives; they have also seized around 30 percent of Sicily’s wind farms, and have frozen more than $2 billion worth of assets.

Back in 2010 a similar police operation saw the seizure of over 40 companies, land, buildings, factories, bank accounts, stocks, cars, and yachts from the Sicilian business man Vito Nicastri, also known as the ‘Lord of the Wind’ due to his investments in wind farms and solar panel factories.

Related article: Can Perception Sell Renewable Energy?

It is likely that the Mafia has been attracted to renewable energy for several reasons; Sicily is a sunny, windy island that offers great alternative energy opportunities; much like Germany and Spain, Italy has been awarding generous subsidies to try and encourage the development of renewable energy projects; and also, the renewable energy industry offers a legitimate business which is likely to be around for many years and can provide a good front for the family.

Other renewable energy projects in Sardinia and Apulia are also being investigated for their connection to known crime families.

By. James Burgess of Oilprice.com


x

Join the discussion | Back to homepage

Leave a comment
  • lenny on March 01 2013 said:
    don't forget the Beltway family
  • JosephConrad on March 01 2013 said:
    UI'm almost relieved the Mafia is entering said markets and competing with the Beltway & CFER mafia families! This nation's citizens must compel the government to orce the '7 sisters' to reveal and start testing 'product's in the patents they've been hiding since obtining them through 'economic hitmen'!
    The alternative will be international conflict and multiple CIA-induced civil wars - as there are now - in myriad non-white resources-rich nations. Russia an china continue to send the US signals they will not back down from stopping US efforts to enricle them an deprive them of natural resources from former European and US colonies.
  • MrColdWaterOfRealityMan on February 28 2013 said:
    So the mafia is into renewables? Is your subtext here that we should halt all work in renewables because the mafia is involved? If so, let's shut down all restaurants, banks, the police, newspapers and web sites. Gosh, yes, that'll show 'em.
  • Vince on February 28 2013 said:
    What about the "known crime families" like Exxon, BP, and Shell?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News