SolarGate and green jobsby Hugh Holub on Sep. 07, 2011, under politics
As we contemplate Obama’s latest scheme to spur the economy, Investors.com has a stunning article up about how a crony of Obama’s managed to get a $535 million loan guarantee for a dubious solar scheme…which recently went bankrupt.
….Despite a warning from Solyndra’s own accountants at PricewaterhouseCoopers that the company’s business model was suspect and raised “substantial doubt about its ability to continue as a going concern,” President Obama visited the company and gave it a glowing endorsement as a government-picked winner alongside electric cars and high-speed rail.
And David Brooks has an excellent commentary on how the green jobs efforts has cost a lot of money and produced few new jobs:
There’s a wealth of other evidence to suggest that the green economy will not be a short-term jobs machine. According to Investor’s Business Daily, executives at Johnson Controls turned $300 million in green technology grants into 150 jobs — that’s $2 million per job.