I have absolutely no problem with the development and implementation of alternate energy sources. I support it, I invest in it, and it is very much linked to my profession. But this is what happens when Government meddles in such an industry and attempts to pick the winners and losers.
I have seen Solyndra’s brand new facility right off I-880 in Fremont, in the heart of the Silicon Valley. They just finished building it maybe 3 months ago and it is huge. Had to have been a $500 or 600 million dollar project (correction - actually turns out it was $700 million). Now how does a company heavily financed by the Government build a facility of that magnitude and then suddenly 3 months later go bankrupt, as though nobody saw it coming?
This is the third such large solar company that has gone bankrupt leaving the Government with bad loans totaling over $1 billion. And this in an age where Federal and State Government subsidies and tax breaks for solar projects are massive. Anyone still think that Government should be picking winners and losers? Looks to me like even their “winners” eventually lose, with OTHER people’s money!
Other opinions welcome, but mind the COH, please.