The Real Story with Solyndra
Saturday, October 15, 2011 at 08:41AM The word “Solyndra”—the name of a solar company based in Fremont, California that recently filed for bankruptcy – has now become synonymous with government boondoggle. That is if one is to believe the Tea Party and other critics of the Obama Administration. They claim that the bankruptcy of Solyndra proves that solar energy doesn’t work, and that government efforts to develop energy sources are doomed to fail.
Let’s make one thing clear: All energy sources receive government support. In fact renewable investment pales in comparison to the amount of government spending on fossil energy. The oil and natural gas industry has enjoyed a century of federal support averaging $4.86 billion in subsidy spending each year, according to a report released last month by DLB Investors. That’s thirteen times the average annual expenditure on all renewables, including wind power, the leader in terms of total capacity new renewable capacity additions.






