Re: Solyndra; Are wingnuts against gov't intervention in general or just against this administration in particular?
posted at 11/4/2011 2:52 PM EDT
In Response to Re: Solyndra; Are wingnuts against gov't intervention in general or just against this administration in particular?
[QUOTE]"you have no basis to question my expertise on the matter. " Just because you work in the government gravy train of 'green energy' doesnt make you any smarter. "The true engine of economic growth will always be companies like Solyndra,” Obama said. Obviously Obama is flat wrong on that point. The true engine of growth is free market – a lesson Solyndra found out the hard way. With cheap Chinese solar panels flooding the market and a corresponding reduction in global demand, this “industry” was on an unsustainable course – not unlike the government subsidizing its expansion. A month before Solyndra went belly-up, Massachusetts-based Evergreen Solar – which received $58 million in taxpayer aid – also declared bankruptcy. Months earlier, the company had moved 800 manufacturing jobs to China. “This is one of the most oversupplied industries I’ve ever seen,” an energy industry analyst noted at the time. “Evergreen is just the tip of the iceberg.” Losing “green jobs” to overseas competitors has been a hallmark of the Obama “stimulus.” Last February, an American University report revealed that 80 percent of the $2 billion appropriated in the bill for wind power projects had gone to foreign companies. “Most of the jobs are going overseas,” researcher Russ Choma told ABC. “According to our estimates, about 6,000 jobs have been created overseas, and maybe a couple hundred have been created in the U.S.” Meanwhile, America is littered with empty “green jobs” promises. In Nevada, one solar company received $55 million in federal and state tax credits – but hired just five new employees, while $61.5 million in “stimulus” funds were spent on geothermal projects that created only 25 new jobs. In Seattle, a $20 million weatherization grant that was supposed to create 2,000 jobs and retrofit 2,000 homes wound up producing only fourteen jobs and retrofitting three homes. Even if we accept the Obama administration’s rosy estimates that 225,000 jobs have been “saved or created” as a result of this $93 billion investment– that’s still a price tag of more than $410,000 per job. Taxpayers certainly deserve a full accounting on the Solyndra scandal, but it would be a mistake to assume that this scam is limited to one bad loan for $535 million. The true cost of government’s “green jobs” scam is much larger than that. Read more at NetRightDaily.com: http://netrightdaily.com/2011/09/green-jobs-scam-much-bigger-than-solyndra/#ixzz1clEFyzxW
Posted by BetheKoolaid[/QUOTE]
"NetRightDaily"...? Went running to one of your binkys, did you? This article leans so far right, it's taking on water. The sources and figures are all suspect.
No matter, because nothing in this biased article or your statement really disputes what I said, which was not about the winners and losers in the renewable energy sector (of which there are many of both)...it was about repubs' ideological reaction to one particular bankruptcy in a sector in which repubs have picked their own winners and losers, namely Big Oil.
Oil companies receive over $21 Billion in federal subsidies yearly
, so a little perspective is in order here. By contrast, China subsidized their major solar manufacturers alone over $30 Billion last year. While we can't build the panels as cheaply, they still need to be installed and maintained by technicians - these are examples of the american jobs which have been created.
And the above scenarios can be either partly or totally attributed to the decrease in consumer and business demand during this economic downturn. Unfortunately, all of the gop consternation over this mess has now adversely affected ALL energy startup companies, including nuclear, gas, shale oil, etc.
My larger point still holds true: that energy costs will be one of the principal factors affecting business costs in the near future to the tune of trillions of dollars.