Obama’s Green Energy Failures

It is always a mistake when governments try to create markets they believe should exist, and using tax payers money the politicians create businesses that are not economically viable without huge tax payer funded subsidies. Usually launched amid a fanfare of this stimulus will create trillions of jobs, earn gazillions in export revenues for the country and create a whole new economy, these white elephants of crony capitalism burn bright all too briefly, before crashing hard and terminally.

The Green Dream of the low carbon economy has proved once again that governments cannot create markets for which commercial reality does not exist, the US House of Representatives in a report on global green jobs concluded that there were no such things as lasting Green jobs.

Green investments have proved just as useless, shares in wind turbine manufacturer Vestas in 2008 cost 698 Danish Kroner, today they are worth just 35 kroner, a fall of 95%.

In his time as US President Barack Obama has pumped billions of dollars into wind, solar, Electric Vehicles (EV) and EV battery manufacture, most people have heard of the massive fail of Solyndra, this is just the tip of Obamas Green iceberg.

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.

So far, 36 companies that have received federal support from taxpayers have either gone bankrupt or are laying off workers and are heading for bankruptcy.

Solyndra at US $535 million is relatively small beans compared to:

SunPower ($1.5 billion)
First Solar ($1.46 billion)
Brightsource ($1.6 billion)
LSP Energy ($2.1 billion)*

* denotes already bankrupt

19 of the 36 Green companies are bankrupt, the other 17 are dead, they just haven’t hit the ground yet.

The total failure of governments to run business successfully is wonderfully illustrated by Joe1938 commenting on the story:

Back in 1990, the Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country, our banking system, our auto industry and our health plans to the same nit-wits who couldn’t make money running a brothel and selling whiskey!

About Tory Aardvark

Climate Realist, Conservative and proud NRA member. I don't buy into the Man Made Global Warming Scam, science is never settled. http://toryaardvark.com @ToryAardvark on Twitter ToryAardvark on Facebook

Posted on October 19, 2012, in Anthropogenic Global Warming, Barack Obama, Church Of Climatology, Climate Change, Electric Cars, Global Warming, Green Jobs Lie, Green Lies, Green Taxation, Renewables, Wealth Redistribution and tagged , . Bookmark the permalink. 8 Comments.

  1. Just something for your enjoyment and to spread the funny!

    http://suyts.wordpress.com/2012/10/19/this-is-a-must-watch/

  2. Well said Mr Anteater . . governments do not know how to pick winners only the market can do that.

  3. I know President Obama is a jive-ass but at least he’s a Christian!
    Am I expected to vote for a member of a satanic cult like mormonism?
    Get real !! If the Tea-Party couldn’t even get their act together to the
    extent of agreeing on a candidate what fucking use would they be in
    government? Big talk- small brains, thanks heaps !

  4. Mormons are Christians. I cannot stand reading ignorant statements like that above.

    “Gordon B. Hinckley, prior President of The Church of Jesus Christ of Latter-day Saints (1995-2008), said:

    “We are Christians in a very real sense and that is coming to be more and more widely recognized. Once upon a time people everywhere said we are not Christians. They have come to recognize that we are, and that we have a very vital and dynamic religion based on the teachings of Jesus Christ. We, of course, accept Jesus Christ as our Leader, our King, our Savior…”

    http://mormon.org/faq/mormon-christian

    Jimmy, now that you know the truth, time to clean up the treads you have spewed upon. Or is truth your real agenda?

  5. ATTN: gator69.
    Sorry, but my religion was founded by Jesus of Nazareth not by Joe Smith
    of Vermont (convicted fraudster and liar). My point was simply that the
    incompetence of the Tea Party has left me and other consistent (ie. not
    politically opportunistic) Christians with no choice other than to vote for
    Obama. Obviously this is not Tory’s fault personally. He does a fantastic
    job combatting that other pseudo- religion called “climate change science”.

  1. Pingback: Obama Might Indulge In Green Tokenism, Then Again…… « Tory Aardvark

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