Cutting Through the Subsidy Lies

A good explanation of how subsidies work. Oil company subsidies kick in after they produce the product, as tax write-offs of cost of production. The product is then taxed by the government, producing massive revenue for the government (the people). Green energy subsidies are given directly from taxpayer coffers to companies up front, before anything has been produced, regardless of anything being produced, and is squandered and wasted, leaving a bankrupt company and no jobs. So, which is better?

If you need a bigger picture this guy does a good job of explaining it, just mind the language.

Solyndra Was Not The Only Failure

SunPower, after receiving $1.5 billion from DOE, is reorganizing, cutting jobs.

First Solar, after receiving $1.46 billion from DOE, is reorganizing, cutting jobs.

Solyndra, after receiving $535 million from DOE, filed for bankruptcy protection.

Ener1, after receiving $118.5 million from DOE, filed for bankruptcy protection.

Evergreen Solar, after receiving millions of dollars from the state of Massachusetts, filed for bankruptcy protection.

SpectraWatt, backed by Intel and Goldman Sachs, filed for bankruptcy protection.

Beacon Power, after receiving $43 million from DOE, filed for bankruptcy protection.

Abound Solar, after receiving $400 million from DOE, filed for bankruptcy protection.

Amonix, after receiving $5.9 million from DOE, filed for bankruptcy protection.

Babcock & Brown (an Australian company), after receiving $178 million from DOE, filed for bankruptcy protection.

A123 Systems, after receiving $279 million from DOE, shipped some bad batteries and is barely operating. It cut jobs.

Solar Trust for America, after receiving $2.1 billion loan guarantee from DOE, filed for bankruptcy protection.

Nevada Geothermal, after receiving $98.5 million from DOE, warns of potential defaults in new SEC filings.

And that's a partial list. Can Obama and the DOE pick 'em, or what? And, all those bankruptcies have an effect on green jobs that Obama promised.

See #1 in my previous post.

1. Greatly expanded government spending for every conceivable means of getting rid of ever larger sums of American money as wastefully as possible.

And, of course, as long as you're doing that, might as well make sure that money benefits your friends and supporters.