Posted on May 31 2012 – 8:30 AM – Posted by: Doug Brady
“The true engine of economic growth will always be companies like Solyndra,” President Obama declared two years ago this past weekend. That statement was already doubtful in May, 2010, when Obama visited the solar panel manufacturer’s Fremont, Calif., headquarters between political fundraisers, to celebrate the $500 million it had received in taxpayer-funded stimulus cash.
Today, with Solyndra’s operations shuttered, its employees laid-off and its assets (including those paid for by taxpayers’) divvied up among creditors in bankruptcy, Obama’s statement from two years ago makes for a good laugh. Unfortunately, it isn’t so funny for the operators of America’s real economic engines — the businesses out there that use energy and do not require government handouts for their day-to-day survival.
Even as he has shoveled stimulus cash into green losers like Solyndra, Beacon Power and others, Obama’s EPA has been working hard to keep his 2008 campaign promise to make electricity prices “necessarily skyrocket” for winning businesses that employ Americans.