Obama administration: Wasting YOUR money, one failed “green energy” company at a time.
By now most of y’all are aware that yet another “green energy” company has gone under. Abound Solar went into bankruptcy last year, but as reported by the Denver Post, there is a huge bill for the environmental cleanup at the Abound Solar site.
I thought about totaling up the amount that we taxpayers have spent on funding both Solyndra and Abound Solar, but it’s early in the day yet, and I hate to start off with such depressing statistics. It’s enough to know that the total is less than a billion, but more than half a billion dollars in taxpayer outlay. If one really sits down to crunch the numbers, though, I’m suspecting that a large chunk of the cuts from sequestration would be covered if all the “green energy” loans were repaid.
Here is another angle. From the Denver Post article:
“The Abound facilities are storing thousands of “unsellable” solar panels and thousands of gallons of toxic liquids, according to Colorado Department of Public Health and Environment reports.
“The Department views these 2,000 pallets of solar panels as a characteristic hazardous waste for cadmium,” a report on a Denver warehouse said.”
So what actually makes a company “green”? If the product created is toxic and causes cancer, is it good for the environment? Has anybody actually put that question to King Skeeter?
One of the factors that caused Abound to go under was the fact that there were defects in some of their panels. Abound knew about the defects according to this post from the Washington Times.
Call me old-fashioned, but shouldn’t somebody at both Abound Solar and the U.S. Dept. of Energy go to jail for criminal malfeasance over this? I’m just saying that the taxpayers have shelled out a mountain of money to prop up some really lousy business practices, and accountability seems to be lacking.