Wednesday, August 31, 2011

Green Agenda Goes Bankrupt

Green energy has become one of the biggest boondoggle frauds perpetuated on the American people by a politically mischievous centralized government in the history of our nation. Billions of dollars have been lost to this pie-in-the-sky fantasy. And all of the companies who received federal funding are now closing their doors. Evergreen Solar, Solon Corporation, Spectrawatt, and just recently Solyndra have all went down in flames.

The green agenda is dependent upon government subsidies and without it, they go bankrupt. Two republican congressmen smelled something fishy about the loan to Solyndra:

Republicans have been looking into the Solyndra loan for months. The House Energy and Commerce Committee subpoenaed documents relating to the loan from the White House Office of Management and Budget. GOP Reps. Fred Upton of Michigan and Cliff Stearns of Florida issued a joint statement on Wednesday saying it was clear that Solyndra was a dubious investment.

"We smelled a rat from the onset," the two lawmakers said.

The Institute for Energy Research pulls no punches on how dependent green energy is on taxpayer largess:

Solar panel manufacturing may be profitable for some countries where skilled labor can be found cheaply, especially as long as governments direct consumers to purchase electricity from such sources, regardless of economics. But, in the United States, solar manufacturing plants are closing and the “green jobs” associated with them are evaporating. One may wonder why, but the economics are clear. Without massive subsidies, these industries cannot survive, and without policies that force these products to be purchased, they can’t survive. European countries (e.g. Spain and Germany) are examples where legislative and regulatory policies required solar energy to be purchased at rates far above the going retail rate.[ix] These countries found that they had to slash subsidies because of high rates and little power production due to low capacity factors of solar plants.

With such European experiences, and with companies closing down solar manufacturing plants and laying off workers, why must our government continue to push for
these expensive technologies[x] that cannot survive in the market place on their own?

And that is a good question. Maybe Obama can answer that for us during his joint address to Congress.


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