"OCTOBER 7, 2011
BY DR. KENT MOORS, Global Energy Strategist, Money Morning
The Obama Administration is coming under fire for providing subsidies to renewable energy sources, such as solar, wind, and geothermal.
And not for the first time.
The latest tiff results from a $528 million loan to Solyndra LLC. Despite receiving federal funds, the private, California-based solar panel maker went belly up on Sept. 1, filed Chapter 11 bankruptcy protection, and laid off every one of its more than 1,100 workers.
U.S. Secretary of Energy Steven Chu has gotten more political flak from the loan program in recent months. Political opponents claim it's an example of government waste in the making. "
'via Blog this'
BY DR. KENT MOORS, Global Energy Strategist, Money Morning
The Obama Administration is coming under fire for providing subsidies to renewable energy sources, such as solar, wind, and geothermal.
And not for the first time.
The latest tiff results from a $528 million loan to Solyndra LLC. Despite receiving federal funds, the private, California-based solar panel maker went belly up on Sept. 1, filed Chapter 11 bankruptcy protection, and laid off every one of its more than 1,100 workers.
U.S. Secretary of Energy Steven Chu has gotten more political flak from the loan program in recent months. Political opponents claim it's an example of government waste in the making. "
'via Blog this'
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