Solyndra was a US Solar Panel company founded in 2005 which went bankrupt recently, despite half a billion dollars of subsidies from the Obama White House!
In early 2009, they would ask Bush Jr's White House for a donation.
He told them "wait, I still have to study your proposal" which is a diplomatic version of "f*ck off". It would have been much better if the undiplomatic but much more accurate reaction were used but at least, Bush Jr didn't pay a penny.
The pampered parasitic solar as**ole CEOs went ballistic: how arrogant George W. Bush has to be not to simply pour a billion of dollars into their solar throats!
However, once Obama took office during the same month, the company whose executives raised $100,000 for the Obama campaign was suddenly bombarded by the taxpayer money. A crony feedback loop. The company was visited by Schwarzenegger as well as Obama and the latter guy gave them half a billion (and it could have been a whole billion or more): that's what you normally do to your friends whom you barely know. Ideologically colored nepotism in action.
This amount of money is insanely high because the whole revenue during 2009 and 2010 was about $100 million per year only. If you realize that there is only a tiny profit margin if any (profit is at most a small fraction of the revenue), you see that you would clearly need many decades to repay the investment. It was never going to be repaid because the company was never competitive.
This amount of money is insanely high because the whole revenue during 2009 and 2010 was about $100 million per year only. If you realize that there is only a tiny profit margin if any (profit is at most a small fraction of the revenue), you see that you would clearly need many decades to repay the investment. It was never going to be repaid because the company was never competitive.
And that is what will happen under the Gillard/Greens Carbon Tax Regime. The more insane the proposal (from the right - sorry Left people) the more of your hard earned money will line their greedy pockets.
I share the hopes that this scandal may make Greens/Labor organized "investments" into these Al-Gore-like fraudulent industries impossible in the future. Europe and other places are learning their lessons, too. The European lessons may look less concentrated (20% unemployment in solar Spain is being kept well out of the Australian mainstream media) but they speak the same overall language.
The U.S. taxpayers may have lost half a billion but this loss may have good consequences, too. Tens of millions of people may finally see the light and realize that everyone who talks about the imminent demise of carbon-based energy is a crackpot who can make you completely broke within a year.
The U.S. taxpayers may have lost half a billion but this loss may have good consequences, too. Tens of millions of people may finally see the light and realize that everyone who talks about the imminent demise of carbon-based energy is a crackpot who can make you completely broke within a year.
It isn't about saving the planet from climate change. It's about a huge social experiment and we, you and I good folks, are the guiniea pigs. I hope we survive a lot better then the majority of guiniea pigs survive most experiments?
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