Founder of Solyndra announced last week that he is calling it a day. This comes at he heel of the news that Seattle, which got $20 million from the government for green (weatherization) jobs created only 14 jobs (and temporary ones at that) and upgraded - are you ready for this? - all of 3 homes despite promises of many more. The same program, nationwide, has spent over $500 million, creating or retaining only 600 jobs!
About a month ago, Evergreen Solar Inc. - another one of Obama's green darlings propelled by taxpayer money, filed for bankruptcy and shipped about 2,000 U.S. tax payer funded jobs to China.
All told, there have been at least half a dozen green investment company failures over the past year; not counting green program failures by states and municipalities.
In sum, green energy is a pie-in-the-sky as Europeans as well as Canadians have been painfully learning.
None of the previous failures, however, were as high profile as Solyndra which recieved over half a billion ($535 million) in federal loans and guarantees. What makes the Solyndra saga, which is thankfully currently being investigated by the congress despite roadblocks by Democrats and the Administration, more outrageous than any other is the circumstances surrounding some of its founders. If you guessed that at least one backer of this project was an Obama fund raiser, go to the head of the class! You are right on.
Suffice it to say that it stinks to high heaven when the president's big money bundlers end up with billions of taxpayer dollars and bankrupt or otherwise barely surviving companies.
A scandal? Not if the media can help it (like they did in the case of Pigford, and several other cases over the past two years).
Obama keeps on touting green jobs (all-the-while killing conventional energy, as well as other, jobs through run away regulations/interventions issued by the EPA and other agencies like the NLRB). Has anyone in the media wondered what the connection is between the man made climate change hysteria, examples of cronyism (as with Solyndra), and progressive policies in general? A blind man could connect the dots - but not our whorish lap dog media!
Green energy - whether solar, on-shore wind, or whatever - will not work for simple reasons. There exists no feasibility for such projects. They are extremely expensive and technologies required are simply non existent to render them profitable at this point in time.
As such, they must be heavily subsidized (approximately 4.5 times more subsidies per KWh produced than fossil fuels) by the government, which the high profile failures show to be insufficient by itself. The solar sector, especially, is in trouble worldwide.
In fact, for those who may not be aware of this outrageousness, current federal mandates for power companies to buy 10-15% of their energy from alternative sources like wind and solar is the only reason why any such companies exist at all. So, next time you take a look at your electric bill, you can thank uncle Sam for doing its share to drive your costs up.