Solyndra-Part II

Cliff Stearns

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CNN Money is talking about Solyndra as a case study of whether the government should be financing risky ventures in the private sector.

NEW YORK (CNNMoney) — Until recently, few outside the solar power industry had even heard of Solyndra Inc.

Now the company’s bankruptcy has become a case study on an issue likely to gain increasing attention: Should the government be investing taxpayer dollars in promising — but risky — startup companies?

The takeaway quote to me is:

“Taxpayers may be better served by putting that money towards reducing the deficit,” said Rep. Cliff Stearns.

And there’s this:

So far, the department has backed nearly $40 billion in projects that range from solar and wind farms to nuclear power plants.

Read it all.

Ace has the story of the ABC coverage and a link to Mark Levin at Hot Air.

Not the longest report, but the questions were properly framed — “Did the White House rush a half billion of your dollars to a company certain to fail?”   Read the rest.

The Washington Post reports that the program also failed to create jobs, green or otherwise. They are claiming amongst other thing that it saved 33,000 jobs at Ford Motor Company (about half of its payroll). Link here.

And finally here’s the Solyndra Story Final Memo from the House Energy Committee.

ps. For those of you that still think Anthropogenic Global Warming (AGW) is settled science, another Nobel winning physicist has resigned from the American Physical Society of their promotion of AGW. The story from Climate Depot

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5 Responses to Solyndra-Part II

  1. bydesign001 says:

    “THIS DEAL IS NOT READY FOR PRIME TIME.” Well neither is the community organizer in the Oval Office. No doubt, if Americans were to look deep into these so-called programs and where the stimulus money, we will find plenty of FAILED ventures being that it was never about the ventures in the first place.

    Excellent post neenergyobserver.

    Like

    • The whole stimulus thing is a huge pile of crap, I think. They spent the money somewhere and no one seems to know where. This administration is far worse, of course, but it’s not exactly something new.

      The problem is that we got into the crony capitalism thing long ago, and we are the poorer for it. I don’t know if our people are ready for reality; but we need to go back to the free market. I’ll bet you’ve already noticed, byDesign, that that is one of the recurring themes of my blog.

      Like

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