Solar Energy Company Touted By Obama Goes Bankrupt

September 2, 2011

Economic isolationism is the only answer. America can not compete with slave labor. While it is true this methodology failed in the past (example: Hawley-Smoot tariff), this was before the United States became the huge Consumer market that it is.  I disagree that subsidizing alternative energy is a bad idea because there is a history of abuse from fossil fuel industries and their previous relationship to government that must be undone.  However if the price of fuel keeps on rising as it does, I see little reason for that argument. If it were 1992 I could see the benefit of subsidizing new kinds of energy.  I see no reason to do that now.  What I do see is a reason to protect our innovations from being taken by countries that abuse their labor.

This is the 3rd solar energy company gone bankrupt in 1 month. Obama touted them as flagships of his economic policies. And as such, they epitomize his epic FAIL.

(The Week) Obama nurtured the solar-panel maker with $535 million in his push to create green jobs. Now it’s kaput and its 1,100 employees are out of luck Solar-power startup Solyndra — one of the flagships of President Obama’s efforts to create green-energy jobs — has shut down, and plans to file for bankruptcy. Solyndra received $535 million in federally guaranteed loans to expand, and Obama once visited the company’s Silicon Valley factory to congratulate its workers on their bright future. But Solyndra says it just can’t compete with cheaper solar panels from China, and now its 1,100 employees are out of work. Is this a “political catastrophe” for Obama, or just a painful setback in the transition to clean energy? [MORE] Eye-on-the-World