05-04-2012, 12:45 PM
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Income Redistribution: Green Energy Loses Cash, Destroys Environment
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Income Redistribution: Green Energy Loses Cash, Destroys Environment
The extent of the Obama administration's green energy fiasco has become more evident in recent weeks. Companies that seek to develop wind, solar and other alternative energy sources are headed for tough times, according to a combined report on the green energy industry by the left-leaning Brookings Institution, Breakthrough Institute and the World Resources Institute. In the report, analysts warn of "more bankruptcies, consolidations, and market contraction." The main reason for the fiscal woes of an industry that Obama has touted as pivotal to the American economy is simple: Federal subsidies are drying up.
The report states that the federal government dumped $44 billion in "stimulus" cash on the green energy industry between 2009 and 2011, but that amount is expected to shrink to roughly $6 billion between 2012 and 2014. The money spent so far has done little to boost green energy production in the U.S., and the report suggests that without continued substantial federal subsidies, green tech companies won't be able to stand on their own. The green-tech sector of the energy industry has been incapable of developing a self-sustaining model in part because companies cannot produce renewable energy more cheaply or reliably than traditional fossil fuels. Tariffs against Chinese solar panel manufacturers to protect domestic solar companies and subsidies to keep companies afloat have had the opposite effect.
We're also learning that green tech may be having an undesirable effect on the environment. State University of New York researchers recently determined that in Texas, where four of the world's largest wind farms are located, warming trends have developed due to the effects of expelled energy and turbulence from turbine rotors. Wind energy has long been controversial because no one wants the unsightly turbines in their backyard, and the high cost of development and energy distribution has been prohibitive. If it's true that wind farms actually contribute to global warming, the very thing that they supposedly combat, then there may be no reason to build these gigantic bird-killing Cuisinarts in the first place.
Worse yet, Solyndra, the bankrupt solar-panel producer that was the Obama administration's poster child for a clean energy revolution, has also become an environmental blight. The company appears to be walking away from an undetermined amount of hazardous chemicals stored at its closed plant in Milpitas, California. Solyndra doesn't want to (and can't) pay for the proper disposal of the chemicals, which now sit in barrels in a hazardous storage area.
All this bad news hasn't stopped the administration from moving "forward" with its green energy initiative. Last week, a series of roundtable discussions were held between government officials and private businesses to explore new ideas for clean energy production. One creative concept was to burn chicken manure to create electricity. It appears that Obama remains committed to converting America to his green energy vision, even if he has to use chicken excrement to do it.
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Digest for Friday, May 4, 2012 - Editions - PatriotPost.US
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