Tuesday, April 3, 2012

Green Energy Takes Taxpayers into the Red Again

Green energy.

It sounds like such a nice idea, especially when contrasted with smog, barren wastelands and dying baby seals. But like just about every other liberal strategy out there, that nice idea crashed and burns when it meets reality.

(Sorry, baby seals.)

America got a good dose of that reality last year when the news first struck that Solyndra, a solar panel company liberals were in love with, was going bankrupt… despite receiving about half a billion from Obama’s so-called stimulus planning.

And it quickly became apparent that Solyndra wasn’t the only green energy start-up with a shady combination of political connections, taxpayer backing and ultimate failure.

There was also:

  • SpectraWatt and its $500,000 federal grant
  • Mountain Plaza, which supposedly warranted $2 million
  • Olsen’s Crop Service and Olsen’s Mills Acquistion Co.’s $10 million check
  • Beacon Power Corp, which received $43 million
Perhaps one massive failure like that can be dismissed as a mistake, and two can still be construed as a fluke. But three is a definite trend, four is an embarrassment and five is utterly maddening.

And now there’s a sixth example (at least) of what a sick, twisted, irresponsible joke the Obama administration and its green energy scheme really is.

Back in April 2011, Solar Trust of America received up to $2.1. Now, exactly one year later, it’s filing for bankruptcy protection, since it can’t find the finances to pay that original loan off.

At this rate of financial failure, the United States of America is going to be up next.

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