May 01, 2012

Green Fail

Great breakdown on the 'Green' companies which have been given money by the Federal Government (this is our tax dollars folks…)

From American Thinker:

Obama's Epic Green Fail
As we get into the campaign season (has Obama ever left it?), some recollections of what President Barack Hussein Obama said and has done (courtesy of Peter Schweizer and Ashe Schow) are both humorous and instructive. Humorous because you have to laugh at what Obama has said and done to keep from crying. Instructive because this is what we can expect from Obama (and more) if he gets re-elected.

A partial list:

  • SunPower, after receiving $1.5 billion from DOE, is reorganizing, cutting jobs.
  • First Solar, after receiving $1.46 billion from DOE, is reorganizing, cutting jobs.
  • Solyndra, after receiving $535 million from DOE, filed for bankruptcy protection.
  • Ener1, after receiving $118.5 million from DOE, filed for bankruptcy protection.
  • Evergreen Solar, after receiving millions of dollars from the state of Massachusetts, filed for bankruptcy protection.
  • SpectraWatt, backed by Intel and Goldman Sachs, filed for bankruptcy protection.
  • Beacon Power, after receiving $43 million from DOE, filed for bankruptcy protection.
  • Abound Solar, after receiving $400 million from DOE, filed for bankruptcy protection.
  • Amonix, after receiving $5.9 million from DOE, filed for bankruptcy protection.
  • Babcock & Brown (an Australian company), after receiving $178 million from DOE, filed for bankruptcy protection.

A lot more here.

Looks like we are recapitulating Spain's fifteen-year experience with 'green' energy where for each person hired for a green project, there was such an adverse effect to the 'normal' economy that 2.2 jobs were lost. Primary report here (PDF). More here, here and here.

Posted by DaveH at May 1, 2012 09:59 PM
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