Saturday, September 3, 2011

The Ink Runs Red For Obama-Backed Solar Companies

In just the last couple of weeks, four solar companies have fallen into bankruptcy: SprectraWatt, Solyndra, Evergreen Solar, and Solon Energy.

In the case of all of these companies, Obama has hailed them as the future of job creation in America; when, instead, their bankruptcies just sent jobs to the unemployment lines. What's worse, two of these companies, Evergreen Solar and Solyndra, received combined government funding in excess of one-half billion dollars and it is highly likely that none of that taxpayer money will ever be recouped.

As in the case of wind power turbines, American solar companies aren't able to compete with the lower-priced, Chinese-made products. Furthermore, there just isn't enough demand for solar panels because they're too expensive. In fact, if it wasn't for state and federal funding support, few would ever be installed.

But, the Obama Administration, in its complete ignorance of business, doesn't seem to get it. Solar and wind are not going to be the savior of America's unemployment problems and these bankruptcies just prove it. All that's happening is that we are creating more jobs in China while, at the same time, losing jobs in the solid and economical energy industries of coal, gas, and oil. For what? A Climate Change agenda that just keeps getting discredited.

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