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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 ...
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.
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