O'Drama’s Taxpayer-Backed Green Energy Failures

Discussion in 'The Fire For Effect and Totally Politically Incorr' started by montezumaz, Oct 19, 2012.

  1. montezumaz

    montezumaz Former Guest

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    http://blog.heritage.org/2012/10/18/president-obamas-taxpayer-backed-green-energy-failures/

    It is no secret that President Obama’s and green-energy supporters’ foray into venture capitalism has not gone well. But the extent of its failure has been largely ignored by the press. Sure, single instances garner attention as they happen, but they ignore past failures in order to make it seem like a rare case. The truth is that the problem is widespread. The government’s picking winners and losers in the energy market has cost taxpayers billions of dollars, and the rate of failure, cronyism, and corruption at the companies receiving the subsidies is substantial. The fact that some companies are not under financial duress does not make the policy a success. It simply means that our taxpayer dollars subsidized companies that would’ve found the financial support in the private market. The problem begins with the issue of government picking winners and losers in the first place. Venture capitalist firms exist for this very reason, and they choose what to invest in by looking at companies’ business models and deciding if they are worthy. When the government plays venture capitalist, it tends to reward companies that are connected to the policymakers themselves or because it sounds nice to “invest” in green energy. - Ashe Schow

    List of Faltering or Bankrupt Green-Energy Companies:

    A123 Systems ($279 million)*
    Abound Solar ($400 million)*
    Amonix ($5.9 million)
    Azure Dynamics ($5.4 million)*
    Babcock and Brown ($178 million)
    Beacon Power ($43 million)*
    Brightsource ($1.6 billion)
    ECOtality ($126.2 million)
    EnerDel’s subsidiary Ener1 ($118.5 million)*
    Energy Conversion Devices ($13.3 million)*
    Evergreen Solar ($25 million)*
    Fisker Automotive ($529 million)
    First Solar ($1.46 billion)
    GreenVolts ($500,000)
    Johnson Controls ($299 million)
    Konarka Technologies Inc. ($20 million)*
    LG Chem’s subsidiary Compact Power ($151 million)
    Mascoma Corp. ($100 million)
    Mountain Plaza, Inc. ($2 million)*
    Navistar ($39 million)
    Nevada Geothermal ($98.5 million)
    Nordic Windpower ($16 million)*
    Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
    Range Fuels ($80 million)*
    Raser Technologies ($33 million)*
    Satcon ($3 million)*
    Schneider Electric ($86 million)
    Solyndra ($535 million)*
    SpectraWatt ($500,000)*
    Stirling Energy Systems ($7 million)*
    SunPower ($1.2 billion)
    Thompson River Power ($6.5 million)*
    Vestas ($50 million)
    Willard and Kelsey Solar Group ($700,981)*


    *Denotes companies that have filed for bankruptcy.
  2. jedwil

    jedwil Well-Known Member Supporting Member

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    I guess you missed the part about a few failures but it's all for the greater good.............You know, the Patriotic part.
  3. cycloneman

    cycloneman Well-Known Member

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    YOu dont have to remind us were lucky to have Shysters like BUROCKHEAD printing and spending and pocketing and drowning our kids in debt. yes sir we are lucky.

    Tell me little Johnny what does it feel like when mr. burockhead shoved that 6 trillion dollar debt right up your bum hole? Yea ask your kid that.
  4. jedwil

    jedwil Well-Known Member Supporting Member

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    If it was a little kid, I might ask in language that wasn't so graphic......Just me.
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