American people are beginning to notice that the “green energy” is not so green after all, it is awash in red ink.
“Green jobs” were being promised all over Europe when Spanish voters swept into power the Socialist party in 2004. More entitlements and withdrawal from the war in the Middle East were the icing on the cake. The Socialists presided initially over a period of sustained economic growth. Today Spain has 5 million unemployed, a huge public debt, and the “indignados” (the indignants) who are a small and disruptive minoritarios.
Mariano Rajoy, the leader of the conservative Popular Party won the prime minister post in a landslide victory last Sunday. The voters spoke loud and clear against the Socialists’ lavish spending and mismanagement of the Spanish economy.
Interestingly, Europeans keep voting for right of center parties, but the spending spree and the “green economy” march on. According to Daniel Hannan, “only three per cent of European Union nationals have leftist governments (Austria, Denmark, Cyprus and Slovenia). Yet spending continues to rise (except on defense), bureaucracies continue to grow, powers continue to shift from national capitals to Brussels.” No matter how Europeans vote, as long as Brussels dictates the laws and Germany runs the economic policy, the “green” oligarchy rules.
On the home front, the bankrupt solar panel manufacturer Solyndra’s employees are now qualifying for trade adjustment assistance. After blowing $528 million dollars in taxpayer support, Solyndra’s 1,100 laid off workers will receive $13,000 each in federal aid packages, including job retraining and income assistance.
Since President Obama extolled the virtues of clean solar energy, why is it that Solyndra could not make a profit in such a hot market? Was this just crony capitalism or a photo opportunity for the White House to waste more taxpayer money?
Trade adjustment assistance was intended to ease the burden on the victims of free trade, to provide special unemployment benefits, loans, retraining programs, and other aid to workers and firms that were harmed by foreign competition after they’ve been in business for a while.
Solyndra was hardly in business long enough to prove that it could not compete against the Chinese who were making solar panels quite cheaply. The information was already available that the Chinese were making solar panels for $1 or less each. Now the taxpayers have to cough up another $14.3 million in federal aid as a direct result of the bankruptcy. If the workers were “highly skilled” as the Department of Energy documents show, why do they need retraining?
President Obama gave Solyndra $535 million in loan guarantees in 2009 as part of his program for “green jobs” and sang its praises at the Freemont, Ca plant. The company burned cash so quickly, that the Department of Energy had to restructure the original defaulted loan in order to help Solyndra survive. During renegotiations of the loan, private investors were placed ahead in line to receive the first $75 million recovered in the event of liquidation, clearly in violation of DOE loan rules.
Energy Secretary Steven Chu and the DOE have approved in September a $737 million loan guarantee to Tonopah Solar Energy for a 110-megawatt solar tower on federal land near Tonopah, Nevada, and a $337 million guarantee for Mesquite Solar 1 to develop a 150-megawatt solar plant near Phoenix, both under the same program as Solyndra.
If Americans have spoken loud and clear that they want drilling for oil here in order to ease the dependence on the Middle East importation, why are we still pursuing expensive solar and wind energy that cannot even begin to replace the energy currently produced by fossil fuels that our huge economy needs? Why are we not building nuclear power plants? Why did President Obama stop the Keystone XL pipeline from Canada that would have delivered crude all the way to Texas? Why does he want to bankrupt the coal industry?
The similarity to the European Union situation is eerie. No matter what the majority of American voters want and no matter how they cast their ballots, the ruling power elite ignore them.
Another sector of Obama’s “green economy” is in financial trouble, the renewable electricity grid. Among “smart grid” companies that have received taxpayer loans is Beacon Power that manufactures flywheel energy storage technology.
Beacon received $43 million loan guarantees from the same stimulus-funded program that financed Solyndra. Beacon filed for bankruptcy in October 2011 and announced in November 2011 that it will likely liquidate its assets instead of restructuring, meaning that the government may not recoup the $43 million through bankruptcy proceedings.
Ener1 received more than $120 million in federal grants. It was delisted last week by NASDAQ for failure to comply with SEC filing requirements after suffering heavy losses and firing its top executives. Other “green energy sectors” may follow.
The Smart Meter lawsuit in California will put in jeopardy the manufacturers of such meters if the judge rules that all litigants must have their Smart Meters replaced with traditional meters. This administration has already spent hundreds of millions of dollars for the deployment of Smart Meters across the country and especially in California.
A class action lawsuit in California has brought the following issues in front of the Administrative Judge Amy C. Yip-Kikugawa, who ordered PG&E, SCE, SDG&E, and Southern California Gas Company to explain Smart Meter transmission details.
The “green industry” with its faux “green jobs,” pushed by United Nations globalists who have scared and convinced billions of people that global warming is real, and it is the result of human activity, is a multi-trillion dollar profitable hoax. This hoax will extort huge fees in carbon emission taxes, flushing taxes, carbon footprint taxes, water footprint taxes, and other yet unnamed “green” taxes across the globe.
Billions of dollars are being spent to retrofit homes, cars, plants, entire industries, products, roads, medications and hospital care, food, agricultural methods, education, travel, water access, and land access, in the name of saving the “green” planet. Every facet of human life and every human being will be better controlled by a handful of omnipotent and omniscient oligarchs.
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Dr. Ileana Johnson Paugh, Romanian Conservative is a freelance writer, author, radio commentator, and speaker. Her books, “Echoes of Communism”, “Liberty on Life Support” and “U.N. Agenda 21: Environmental Piracy,” “Communism 2.0: 25 Years Later” are available at Amazon in paperback and Kindle.
Her commentaries reflect American Exceptionalism, the economy, immigration, and education.Visit her website, ileanajohnson.com
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