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Skip to comments.President Obama’s Taxpayer-Backed Green Energy Failures
Posted on 10/18/2012 4:48:27 PM PDT by Lmo56
It is no secret that President Obamas and green-energy supporters (from both parties) foray into venture capitalism has not gone well. But the extent of its failure has been largely ignored by the press. Sure, single instances garner attention as they happen, but they ignore past failures in order to make it seem like a rare case.
The truth is that the problem is widespread. The governments 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 wouldve found the financial support in the private market.
(Excerpt) Read more at blog.heritage.org ...