ELDER PATRIOT – Green energy has proven to be a financial bust. While there are legitimate applications for using renewable energy those uses, with today’s technologies, are few and comprise only a small fraction our national energy needs. While renewable energy should be used wherever it is commercially beneficial it is hugely cost ineffective in the vast majority of applications. It is also unreliable especially in northern climates.
Perhaps with more research a cost benefit can be developed for additional commercial application but that is not now the case.
In the majority of instances where it is being employed, those using the technology only find it saving them money because someone else is picking up the tab. This is because of the tax credits that government gives to those who avail themselves of solar and wind technologies.
Early in the Obama administration direct subsidies were offered by the government to offset the entire cost of these systems. The use of TARP funding that was ostensibly targeted to “save the economy” by subsidizing inefficient energy sources made no sense then and it makes no sense now.
So who benefitted from this scam? Certainly Al Gore, the prophet of “global destruction if we didn’t do something immediately,” did. Today, Gore’s net worth is over $200 Million.
There also were those who picked their fellow taxpayers’ pockets by taking advantage of having the government redirect tax dollars to the suppliers of green energy products – mostly solar panels. These users benefitted because they had systems installed at little to no cost. Some even got systems paid for by the government that were large enough to allow them to sell power back to their utility company. But, without the subsidies from their fellow citizens there would have been no cost benefits to the “purchasers” of solar technologies.
Quite a good deal for them but nothing compared to the windfall for the companies hawking solar power well before it’s time of financial feasibility had come.
The biggest winners by far were Obama’s renewable energy donors who were selling these systems before they had become commercially viable. This included those companies marketing these technologies in environments that didn’t make sense like in the Northeast.
In the end the government had simply used those who took the tax incentives they offered to those who installed these systems as stooges to pass billions of dollars of taxpayers’ money on to political donors at a time when we, as a nation could least afford it.
The Solyndra scandal that left taxpayers liable for $535 million dollars in federal guarantees, while highly publicized was not an isolated incident – not by a long shot.
If we really needed to accelerate the development of green energy technologies wouldn’t a smarter approach have been to offer tax credits for the research monies expended by corporations developing solar technologies? This would’ve cost taxpayers a fraction of what was spent while at the same time it would have provided for the continued use of the most cost effective energies available at a time when our economy was trying to recover from a collapse.
While the Obama administration orchestrated this charade, Republicans in congress must shoulder blame for not offering any criticism when he was creating this slush fund. Paul Ryan was the highest-ranking Republican on the Congressional Budget Committee at that time. Now he opposes Donald Trump’s presidential bid.
The only logical conclusion is that Ryan and the Republicans offered no resistance to enriching Obama’s donors in exchange for a promise of similar treatment of their donors if and when they return to power.
This is the way that Washington works, convincing voters that taxpayers’ money must go to the business interests of their biggest donors. Bipartisanship means both parties working together defrauding taxpayers equally.
This is the Washington insiders’ club that Hillary Clinton is running to perpetuate. This is what Donald Trump is promising to end.