Here are just a few recent examples of Government ignoring the will of the taxpayers and the laws of supply and demand and foolishly investing in solar companies without proper oversight. The results were not pretty.
Evergreen Solar company received $5.3 million dollars of stimulus money to solar panels and stimulate the U.S. economy. The declared bankruptcy in February of 2012 and are planning on moving the bulk of their manufacturing processes to China.
SpectraWatt, based in Hopewell Junction, NY, received a $500,000 grant from National Energy Renewal Laboratory in June 2009. They also declared bankruptcy last month.
We are all familiar with Solyndra, who received $500 million dollars to make solar panels. They recently went bankrupt and layed off 1,100 workers. Much of the left over supplies, tools, and equipment were destroyed or disposed of rather than being sold to recoup some of the cost. We still do not have accuarate reports on how the 500 million was used, and there are unsubstantiated rumors that the company donated some of the money to Obama's 2012 campaign fund.
So what is the proper way to invest in alternative energy? We all know that without risk, there is little reward. When the government gambles with your money, essentially picking winners and losers by giving taxpayer's money to this company or that, there is no risk, and no process in place to oversee the money and make sure that it is spent wisely.
It's just a bunch of bureaucrats trying to get votes by bragging about how they've helped the economy and the green movement.
If private investors and entrepreneurs were developing a new product in response to a market demand, they would be responsible with their money, because it would be their money at risk. Market demand creates the best product at the lowest price.
What do you think?
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