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Another Obama Green-Tech Subsidy Recipient Begins Furloughs for Workers

Green Lifestyle  (tags: Green Energy Boondoggle, Barack Obama, Bad Investment of Public Funds, Obama, Broken Promises, Mismanagement, Waste of Taxpayer Money, Green Joblessness, Green Job Illusion, Outsourcing, Picking Losers, Failure of Central Planning, Compact Power )

- 1989 days ago -
27 months and $150 million later, and the Compact Power plant has begun furloughing workers for which Obama claimed credit. Not only that, but all of those batteries stamped "Made in America" turned out not to here ... but in South Korea.

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Paula M (39)
Tuesday October 9, 2012, 12:15 pm
From the article:

Itís difficult to know what to say at this point that hasnít already been said. If this was a good investment, then investors would have provided the funding for it. Thatís what Mitt Romney meant during the debate when he hammered Obama on the green-tech subsidy program that spent $90 billion on flyers like Compact Power, Abound Solar, and Solyndra, all of which flopped ó and many more besides, like Ener1. Government doesnít pick winners and losers ó it picks losers, because winners donít need the government to subsidize them in the first place.

This is yet another example of the same dynamic. The electric-vehicle push has been a bust, the solar-panel push has been a bust, and taxpayers end up holding the bag Ö again.

Roger G (154)
Tuesday October 9, 2012, 12:22 pm
noted, thanks !

Danuta W (1248)
Wednesday October 10, 2012, 2:30 am

Frans B (582)
Thursday October 11, 2012, 2:10 am

Wim Zunnebeld (144)
Thursday October 11, 2012, 10:39 am
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