Toddsterpatriot
Diamond Member
Solyndra was driven into bankruptcy by an 89% drop over 18 months in the cost of its competitor's raw materials and a nearly simultaneous drop in the cost of natural gas. It was not a scheme to take taxpayer money, it was a scheme to build a tremendously successful business that failed due to nearly unforeseeable market changes. And from Wikipedia's article:
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Also in 2011, a US Department of the Treasury official confirmed that the criminal probe of Solyndra was focused on whether the company and its officers misrepresented the firm's finances to the government in seeking the loan or engaged in accounting fraud. Emails showed that the Obama administration had concerns about the legality of the Department of Energy's loan restructuring plan and warned OMB director Jeffrey D. Zients that the plan should be cleared with the Department of Justice first, which the Department of Energy had not done. The emails also revealed that, as early as August 2009, an aide to then-White House Chief of Staff Rahm Emanuel had asked a Department of Energy official if he could discuss any concerns among the investment community about Solyndra but that the official dismissed the idea that Solyndra had financial problems. The bankruptcy court approved the hiring of the chief restructuring officer Todd Neilson.
Thus failures in the management of loan guarantees to Solyndra were the responsibility of the DoE and took place despite efforts by the Obama administration to exercise greater care and restraint over the financial process.
Well, color me corrected and very pleased. Just allow me to point out that specifying mandatory emission limits does not specify the technology to be used. If ABC Power and Light can meet its required emission limts while burning oily bituminous coal, more power to them.
So, the states that implemented statutory GHG reduction requirements or required a percentage of electricity sold come from renewable sources - did they do this using a power new to the state that they had used AGW to manufacture from whole cloth or were they accomplished making use of powers they had possessed all along? Eh?
Solyndra was driven into bankruptcy by an 89% drop over 18 months in the cost of its competitor's raw materials and a nearly simultaneous drop in the cost of natural gas.
I guess their green money contributions to Obama didn't repeal all market forces.
Well, color me corrected and very pleased. Just allow me to point out that specifying mandatory emission limits does not specify the technology to be used.
Right. Generate power any way you want, just don't emit CO2.
Sounds like they're mandating "green" energy.
I wonder if they'd allow more nuclear? Somehow I doubt it.
did they do this using a power new to the state that they had used AGW to manufacture from whole cloth or were they accomplished making use of powers they had possessed all along? Eh?
Using a power they never used before didn't result in them having more power/control/campaign contributions?