Posted on 09/09/2011 11:59:56 AM PDT by NoLibZone
Solar-power startup Solyndra — one of the flagships of President Obama's efforts to create green-energy jobs — has shut down, and plans to file for bankruptcy. Solyndra received $535 million in federally guaranteed loans to expand, and Obama once visited the company's Silicon Valley factory to congratulate its workers on their bright future. But Solyndra says it just can't compete with cheaper solar panels from China, and now its 1,100 employees are out of work. Is this a "political catastrophe" for Obama, or just a painful setback in the transition to clean energy?
Solyndra's collapse proves Obamanomics has failed: This company was supposed to be part of Obama's "green-jobs explosion," says Ed Morrissey at Hot Air. Now it's "a poster child for the failure of his stimulus, his green-jobs push, and social engineering in general." Obama said Solyndra would demonstrate the effectiveness of his economic policies, and it did — the company never made a profit, and instead of creating jobs, it sent 1,100 people into the unemployment line. "Solyndra shuts its doors"
This is not Obama's fault: "The investment our government made in Solyndra wasn't a hand-out," says Green for All. It was an attempt to "level the playing field" so Solyndra could compete with Chinese companies that receive up to 20 times more help from the state than U.S. firms do. This setback proves we need to invest more in "the inevitable green economy" — not less — unless we want to import our solar panels, batteries, and everything else from overseas. "Statement on the announced closure of Solyndra"
Clearly, there were better ways to spend the stimulus: If Obama really wanted to create jobs, says Logan Penza at The Moderate Voice, he should have targeted companies based on their "ability to compete." But he didn't want to anger Democrats, so he saddled taxpayers with debt to help green companies that liberals can love. Obviously, the economy would have been better off if he had spent the money in ways that were "cost-effective instead of merely politically convenient." "The cost of politicized stimulus"
No problem
The FBI are rounding up all the evidence now...
They will have it shredded quick enough to protect “the won”
This would be a HUGE scandal if it were a Republican.
Remember how they tried to pin Enron on Bush?
The power delivery rate of only 20% at the absolute best should be enough to convince anyone that these things are next to useless. The only way they can even get off the ground is with the injection of huge amounts of money in the form of Government subsidies. The only thing that they can absolutely ensure is that the cost of electricity to the end consumer will be much more expensive.
http://papundits.wordpress.com/2010/01/28/president-obamas-clean-energy-renewable-power-turkey/
I know there are a bunch of Beck haters here, but this is exactly, to a word, what Beck said would happen...they can’t make solar panels cheaper than China.
Only in an Obama world could you qualify for a $535,000,000.00
loan without having to produce an audited working plan that has historically produced a substantial ROI and EBT. This company was taking a flier with our dough.
Solyndra is but one of many reasons Obama is a failure. Obama wasted at least $535 million on this green project that was uneconomic before it even started.
The stock market is telling us that Obama’s policies are failures.
If you want your IRA to look better, replace Obama with a conservative and the corporations should prosper.
Puhleaze! 99.5% of Americans will never even hear of this, and if they do, they'll be getting the MSM's spin that it is everyone's fault EXCEPT obama. Definately the work of those racist conservatives ... that's what did it!
Political catastrophe? Obama will never even notice this, since the MSM will refrain from mentioning it. Only conservatives will hear about it.
They simply end up destroying more jobs in the true free markets where efficiency, true innovation, return on investment, managed risk and a real demand exist, than they create.
The equation is simple: +10 green jobs + -40 evil jobs = - 30 jobs. But some jobs were created.
This never even came close to getting "off the ground". It was a huge half a billion dollar money pit and Obama was only in it for the kickbacks.
If this scheme were run for the benefit of Republicans then there would be hell to pay. As it is there will be barely a peep out of the MSM linking this to Obama.
Now Obama wants to fund another 1,000 Solyndras.
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