28 Jan '12, 4pm

Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!) via @cooler_heads

Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust . Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy . And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce , about 200 employees, only seven months after opening a factory in Nevada. I foresaw this spate of bad news last November. As I explained yesterday, In a previous post , I compared renewable energy spending in the 2009 Stimulus to a green albatross burdening the President. I argued that Stimulus spending was inherently wasteful, because politics invariably corrupts government’s investment decisions. The result is taxpayers losses on bankrupt companies that existed only by the grace of political favoritism, a la Sol...

Full article: http://www.globalwarming.org/2012/01/27/drip-drip-drip-ye...

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