Abound Solar, a company that President Obama has specifically touted by-name Another green energy failure

by Aurora Posted 2012/06/28 22:29:42

Related Topics: Obama, Stimulus, Rock, Winner, President Obama, Media, Federal Government, Market, Future, Train, Forbes, Failure

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Yet another DOE-backed solar panel company bites the dust

posted at 6:01 pm on June 28, 2012 by Erika Johnsen

Good grief. I feel like these ailing Department of Energy-backed loan guarantees are so laughably many
that they’re barely even worth noting anymore, but you’re darn tootin’
I’ll continue to do so as long as President Obama keeps acting like it’s
the federal government’s divine right to pick and choose winners in the
energy market on the taxpayers’ dime.

Abound Solar,
a company that President Obama has specifically touted by-name as a
poster child of the glorious green future, was supposed to “creat[e]
more than 2,000 construction jobs and 1,500 permanent jobs.” …Not quite.
The company has been on the rocks for months, and now they’re officially bankrupt:

Charles R. Anderson 2012/07/04 17:45:43

+1
Government interference with the free market is always a disaster. Subsidizing companies is always a losing proposition for the taxpayer and for consumers. The existence of these lame companies allowed states to mandate so-called green energy percentages for the electricity sold in their states. That in turn meant that the very expensive and unreliable electricity produced caused the average electric rates to go up rapidly, at the expense of we consumers. We were hurt at home and American businesses were made less able to compete with businesses in states with lower mandates and lower electric costs, not to mention being unable to compete with foreign companies. The loss of many, many jobs followed.

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Denny 2012/06/29 03:25:22

+1
Cmon now he's keeping the Bankrupcy lawyers employed. They have to eat too ya know.

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wtw 2012/06/29 03:22:43

+1
When are people going to wake up to this socialist liar!

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Jackie G - Poker Playing Pa... 2012/06/28 23:48:39

+1
another debacle by Obama with OUR money. Time to boot this bum and get a new president who has a basic understanding of the economy

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