Green Jobs Stimulus Program?

The Recovery Act and the green jobs stimulus program did create some jobs. At a cost of hundreds of thousands to millions of dollars per job it has not proven to be cost-effective.

The Obama Administration is on the ropes and their bent in their programs may be a body blow that inflicts serious damage to the chances that President Obama gets re-elected. 

Solyndra, a Silicon Valley company, that manufactured solar panels had applied for government loans.  The Department of Energy loan guarantee program started in 2005.  The program was supposed to provide funding to retrain the workers to compete with foreign technology advances.  The Bush administration had not approved the loan guarantee.

President Obama took the oath of office on January 20, 2009.  gave preferential treatment to like-minded companies and businesses.  From the beginning, Solyndra, seemed on a path of bankruptcyThe Obama administration ‘fast-tracked’ the application process for Solyndra.  Solyndra, in 2009 continued to struggle due to overhead that was approximately 200% of the revenue

The Obama administration approved its first green jobs stimulus loan, a $535 million loan guarantee for the struggling company.  Solyndra also approached the administration to contract the purchase of solar panels.  The government did not agree to purchase solar panels.  Solyndra spent $527 million of the loan guarantee.

Last week Solyndra filed for chapter 11 bankruptcy protection. Today, the Solyndra executives reversed their decision to cooperate with the Congressional committee investigating the loan.  The executives have exercised their Fifth Amendment right to remain silent.

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Daniel Patti September 22, 2011 at 07:17 PM
One of Solyndra's primary investors donated over $50,000 to Obama's 2008 campaign
Alex Tytler September 25, 2011 at 03:48 PM
Gee solar isn't economically competitive? Is anybody surprised? This whole green jobs thing is a fantasy put forward by a dreamer imagining things in an ivory tower. Reality is such a wet blanket, huh?
Alex Tytler September 29, 2011 at 09:54 AM
They just pumped another billion yesterday into two other solar projects under the wire of the last stimulus program which ends on Friday. With natural gas under $4, how could they possibly compete?
Daniel Patti September 29, 2011 at 02:10 PM
The Administration is giving $737 million to a Tonopah Solar, a subsidiary of California-based SolarReserve. PCG is an investment partner with SolarReserve. Nancy Pelosi’s brother-in-law happens to be the number two man at PCG.
sadielee September 29, 2011 at 02:25 PM
30 years ago Brazil made the decision to get off Oil. It cost them billions of dollars and took 20+ years. Guess what, today they are 95% oil free. Sounds like a good move now. No idea what the right answer is but I'm pretty sure its not being 90% dependent on our buddies in the middleeast.
Swami September 29, 2011 at 03:28 PM
Gee, is big oil economically competitive? Check out this interview of Rep. Joe Barton (R-TX) -- he of apologizing to BP fame -- by ABC on Wednesday. Pressed repeatedly by Jon Karl to stake out a position on tax credits enjoyed by offshore oil companies, Barton argued that the subsidies represent equal treatment, and are required to keep the companies like Exxon-Mobil from going out of business. "Over time if you put so many disincentives against any U.S. manufacturing or production company, or oil and gas exploration company, they'll go out of business," Barton said.
Daniel Patti September 29, 2011 at 03:31 PM
You have the right answer, stop being dependent on the ME
DAY September 29, 2011 at 04:49 PM
Brazil makes its ethanol from sugarcane and benefits from an abundance of arable land - something most nations do not have. The U.S. makes its ethanol from corn. Would anyone care to hazard a guess as to what happens to food prices when farmers opt to sell crops to energy concerns rather than food companies that stock the shelves of our supermarkets? Also, the U.S. is the biggest producer of ethanol already; Brazil is second biggest. In addition, Brazil has a quite vibrant and expanding oil industry. In fact, while the current Administration continues its hostility toward our own oil industry - to make Green technology more competitive economically - it also has approved a commitment to lend $2 billion to Petrobras, Brazil's national oil company. So in the future, as Petrobras discovers more and more new oil fields, we can continue to purchase oil from foreign sources. Gosh, I thought the goal was to be less dependent on foreign energy. I'm so confused, and I bet you are too.
DAY September 29, 2011 at 04:50 PM
...and guess which multi-billionaire owns millions of shares of Petrobras?
sadielee September 29, 2011 at 06:51 PM
So Brazil has the best of both worlds. Oil as an export and ethanol as a fuel source.
DAY September 29, 2011 at 08:34 PM
I've read that the production and consumption of some ethanol can be worse for the environment than the production and consumption of gasoline. Don't know if it's true. But I have a real problem with the concept of deliberately diverting food for energy rather than feeding humans. I've seen Rio's favelas up close; people are hungry there. Until there's a solid breakthrough that creates a real alternative, petroleum remains the cheapest most efficient fuel.
Alex Tytler September 29, 2011 at 09:13 PM
Was in the corn business and looked at ethanol in the 80's. Made no economic sense at that time unless you got massive subsidies. The corn lobby made sure it got massive subsidies. Government picking winners we all have to pay for.
Patriot Northeast November 25, 2011 at 03:48 PM
Follow the money. This is nothing more than what as become typical from the most corrupt administration in history.


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