Skip to comments.Mercury News editorial: Let's not politicize Solyndra collapse
Posted on 10/18/2011 10:44:03 AM PDT by NormsRevenge
Americans need to know why the Energy Department approved a loan guarantee for Solyndra when the company was so clearly troubled. But politicizing this mess to smear the entire renewable energy industry won't help the country or the jobless. This industry is estimated to have doubled its number of American jobs in the past two years. Demonizing it could cripple its job-creating potential.
San Jose's SunPower is the latest victim. Fox News has made a series of outrageous claims about it, calling its $1.2 billion federal loan guarantee a scandal "bigger than Solyndra." This is utterly baseless.
Fox, without a shred of evidence, claims the son of Rep. George Miller, D-Martinez, lobbied the U.S. government for SunPower, that the loan guarantee will be used to build a factory in Mexico and that the company is "failing."
In fact Miller's son's company lobbies for SunPower, but only on California issues. The loan guarantee -- which actually belongs to NRG Energy, SunPower's customer and now the project's owner -- will be used to build a solar generation facility in San Luis Obispo, not Mexico, creating 350 construction jobs. And while SunPower does have a plant in Mexico, it employs more than 1,100 people in four U.S. states, and most of its parts suppliers are U.S.-based.
SunPower looks like a solar energy success story. Fact-based reporting indicates it's a financially strong company with little chance of defaulting on its loan;
(Excerpt) Read more at mercurynews.com ...
and when the last local fishwraps belly-up , who will be there to report on their demise?
Donate to FR.. an alternative to green-riddled mediaites and their musings.
over at the Contra Costa Times..
Lisa Vorderbrueggen is playing defense as well..
Fox rumble over Rep. George Miller and son misses some facts
Conservative TV pundits are painting Democratic Rep. George Miller and his lobbyist son George Miller IV as kingpins in solar company SunPower’s bid for $1.2 billion in federal loan guarantees that the critics call gambling with public money.
Hosts on “Fox & Friends” last week characterized San Jose-based SunPower as another “failing solar company.”
Lou Dobbs and Sean Hannity denounced the Millers, with the latter saying the father “failed to mention his son, George Miller IV, is their top lobbyist at SunPower. ... Can it get any more unethical?”
It’s provocative, but the evidence falls short on several fronts.
Industry analysts say San Jose-based SunPower is struggling but nowhere near bankruptcy, and they describe the loan guarantee as low-risk for taxpayers. More significantly, Carlsbad-based NRG Energy, not SunPower, is on the hook to repay the loan, according to company representatives. NRG bought the project before the federal backing came through, although SunPower will design and build the solar farm in San Luis Obispo County.
And in another two years they will all be on unemployment once again and the taxpayers will pick up the bill, not to mention the squandered money to date.
Hahahahahahahahaha! Let’s not politicize this.....hahahahahaha! What’s good for the goose is good for the gander and the Democrats need to be goosed.
The Left pwns these debacles.. lock, stock and barrel
The GReening of America is just another variation of Fleecing the Sheople.
That is my opinion and I’m sticking to it!
Then why do they need a loan?
How democrat party of them. When they’re responsible for blowing half a billion dollars on a scam, then it’s suddenly, “we need to all just get along.”
“Let’s not politicize Solyndra collapse”
Politicize it? I want to criminalize it.
It’s not a scandal when Dems do it......
Yes it will. By weeding out official corruption and vice there will be more money to invest in the real economy.
Yeah, it’s not like it is a scandal of a Republican Administration.
I'd still like to know what he had in his blind trusts as his financial advisor/trust manager flew with him overseas to China on state business.. but that's just me. ;-]
The Green Jobs Myth. Not only do they not create jobs, they also cost more.
Spains green jobs boondoggle
Every green job created with government money in Spain over the last eight years came at the cost of 2.2 regular jobs, and only one in 10 of the newly created green jobs became a permanent job, says a new study released this month. The study draws parallels with the green jobs programs of the Obama administration.
Somewhere, there’s a White House “talking points” memo that says exactly the same thing.
I've heard this argument elsewhere. If the government pumped money into the chocolate-covered-dog-turd-on-a-stick industry, I bet that the number of jobs in that industry would explode as well. Doesn't mean much, though.
The sheeple whose heads are stuck in the Leftist media ought to stick their heads up for once on hearing that the questioning of the Solyndra deals and Solyndra’s finances is a “politicization” of the issue.
Even they know that the giving of the taxpayers money to Solyndra in the first place, was due to politicization of both energy policy and environmental policy and little to the scientific or economic merits of the “stimulus” to so-called “green” energy companies.
Sunny Silicon Valley Ping, please...
Why would you need a construction loan to build a house?
Lying leftist shills-— remember when they viciously attacked Haliburton Co. when Bush was President? Last time we checked Haliburton didnt receive govt loans and go belly up costing the taxpayers over 500 million and they actually produce useful products too.
of course Silicon Valley does not want too much scrutiny on crony capitalist VC funding ventures
So what? That would be the case if we went from 1 green job to 2 jobs but it wouldn't indicate that green energy can produce any real jobs. To the contrary.
$1.2 Billion to create 350 jobs. I could hand 350 people $100,000 a year and live off the interest of $1.2 billion. 350 full-time good paying jobs for the rest of their lives.
These people lose it in a year and then no one is working.
The Miller’s are Contra Costa County’s answer to the Kennedy’s without all the money. Georgie III “ inherited his father Georgie Jr’s seat. My guess is that when III decides to pack it in, IV will take over. They are shameless Marxists!
The INSTALLATION of the facility in SLO for solar energy generation mMIGHT create 350 jobs-—but only for the actual installation of the panels.
The final number of PERMANENT jobs is 12-——NOT 350.
The Mercury-Stooges are always good for a few laughs. I canceled my subscription years ago but every once in a while they throw some on my driveway. Each time reminds me why I canceled. The last time, I told them to stop; I already had enough kitty litter liner.