Skip to comments.President Obama’s Taxpayer-Backed Green Energy Failures
Posted on 10/19/2012 9:27:02 PM PDT by Snuph
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. So far, 36 companies that were offered federal support from taxpayers are faltering either having gone bankrupt or laying off workers or heading for bankruptcy. This list includes only those companies that received federal money from the Obama Administrations Department of Energy and other agencies. The amount of money indicated does not reflect how much was actually received or spent but how much was offered. The amount also does not include other state, local, and federal tax credits and subsidies, which push the amount of money these companies have received from taxpayers even higher. The complete list of faltering or bankrupt green-energy companies:
(Excerpt) Read more at blog.heritage.org ...
Thanks for the list!