by Kiko Matsing
Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors… Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs… The federal government offered $535 million in low cost loan guarantees from the Department of Energy.
Well, here’s where we can start slashing the deficit: stop big government from propping up unprofitable “green” companies. Environmental and economic sustainability should go hand-in-hand. Let these so-called green enterprises thrive or perish in the free market on their own, without tax-payer funded dole-outs. Let these green ideologues put their money where their mouth is.
Green jobs are about government subsidies, cronyism, and job cannibalism. They aren’t self-sustaining because they rely on giveaways of taxpayer money and they cannibalize existing jobs…
The green agenda soaks taxpayers. But it also packs a double wallop because taxpayers are first hit to pay for the subsidies, then everyone is hit by higher energy prices caused by energy taxes and regulations.
Whether Solyndra is just an expensive embarrassment, or a full-fledged scandal, remains to be seen. Shortly after the bankruptcy filing, the FBI raided Solyndra’s headquarters and the homes of its executives in connection with the loan. And today, a House oversight panel holds a hearing to probe how the company–whose board and investors included some major campaign donors to Democrats and Obama–got the money, and whether the administration properly vetted the application.
(from USA Today)
The only thing this President is trying to stimulate is his flagging 2012 campaign.
The results of the Congressional probe shared Tuesday with ABC News show that less than two weeks before President Bush left office, on January 9, 2009, the Energy Department’s credit committee had voted against offering a loan commitment to Solyndra.
Even after Obama took office on Jan. 20, 2009, analysts in the Energy Department and in the Office of Management and Budget were repeatedly questioning the wisdom of the loan. In one exchange, an Energy official wrote of “a major outstanding issue” — namely, that Solyndra’s numbers showed it would run out of cash in September 2011.
(from FOX Nation)