Skip to comments.Ending the solar subsidy fiasco
Posted on 01/12/2012 7:59:36 AM PST by inkling
Its not every day that the New York Times makes a compelling case against government giveaways. But a recent page-one article underscored that the Solyndra scandal was only the tip of the solar-subsidy iceberg. Huge companies like Goldman Sachs, Morgan Stanley, General Electric, utilities including Exelon and NRG, and even Google are receiving government guarantees that ensure large profits with virtually no risk except to the taxpayer.
The Times ascribes to the Obama administration a gold-rush mentality when Congress expanded green-power incentives in 2009, despite a paralyzing federal deficit. The chief executive of NRG, which received $5.2 billion in federal loan guarantees plus hundreds of millions in other subsidies for solar projects, gushed that I have never seen anything . . . in my 20 years in the power industry that involved less risk than these projects.
A start-up industry with no capital risk to investors? Its a nifty deal if you can get itand many have. It is like building a hotel, where you know in advance you are going to have 100 percent room occupancy for 25 years, the Times quotes the CEO of SolarReserve. Even some of President Obamas top advisors have warned of industry double-dipping.
(Excerpt) Read more at goldwaterinstitute.org ...
This wasn’t about energy. This was about pouring massive amounts of money into crony pockets.
Crooked Chicago scams on a national scale.
Much of which will return to the DNC reelect the Marxist funds. Its what kept the Daley's in power for generations and its Chicago style at its finest.
“Its not every day that the New York Times makes a compelling case against government giveaways. “
Kinda says a lot right there, When even the NYT gets upset enough to gripe about this Regime.
Of course states like CA are also pouring money into solar projects. We even have our conservative radio station KOGO advertising solar power and urging home owners to “stick it to to SDGE” by going Solar. It is crazy. The people getting stuck are the utility users and tax payers. SDGE still gets paid for all their expenses..a guaranteed return.
We should not only make this a top priority in 2012. Let’s not forget to put a squash on the phoney climate study grants either. We must get rid of the socialist idealogical democrats who were to easily led by the nose into funding these studies by the environment left. After 70,000,000,000 and counting dollars spent on the AGW/CO2 climate change hoax theses frauds can’t predict the climate any better than the farmers almanac. They were caught redhanded in fudging the data and are still shoveling the same AGW warming crap to the american people.
>>This wasnt about energy. This was about pouring massive amounts of money into crony pockets.<<
You’re absolutely correct. And it’s all well-documented in the book “Throw Them All Out”, a book that every American should read so they fully understand the games that are being played with our tax dollars.
Even the internal government reports put together to assess the way the grants and loan guarantees were awarded state that the funds went primarily to friends and financiers of the Obama campaign.
Does the MSM even care?
By the way, Romney is lining up support, according to reports, by funneling campaign funds to key Republicans in early primary states, so he knows the game well, and it’s unlikely to change if we elect him to replace Obama. Our tax dollars will just be re-directed to a different set of “friends and financiers.”
An additional observation:
Since the original source was the MSM’s very own New York Times, I figured I’d better read the entire article to see if they were finally getting into the outrageous way these subsidies were granted, essentially being payback for previous campaign donations.
Not a peep in the entire article.