And you thought the $535 Million to Solyndra was bad - check this out:
From FOX News:
Green energy company fights for life after getting billions from feds
Abengoa, a renewable energy multinational company headquartered in Spain, has been a favorite of the Obama administration in getting federal tax money for clean energy projects.
Since 2009, Abengoa and its subsidiaries, according to estimates, have received $2.9 billion in grants and loan guarantees through the Department of Energy to undertake solar projects in California and Arizona — as well as the construction of a cellulosic ethanol plant in Kansas.
But in the space of less than a year, Abengoa’s financial health has become critical, leading investors to worry whether the company can survive.
The company’s stock price on NASDAQ has swooned — from $29.32 on Sept. 2, 2014 to $5.62 on Tuesday.
This is yours and my tax dollars being squandered on dead-end technologies.
And then, there is this little article at Bloomberg:
Wind-Power Producers Find Profits as Elusive as a Summer Breeze
Power producers who invested billions in turbines are finding that making money off the wind can be as unpredictable as the energy source itself.
NextEra Energy Inc., NRG Yield Inc. and Duke Energy Corp. all said a lack of sufficiently windy days cut into second-quarter sales. And neither power generators nor forecasters seem to know exactly why.
And what is this costing us?
Tax credits for wind production are expected to more than double to $2.4 billion in the fiscal year ending Sept. 30, according to an August 2014 estimate, the latest available from Congress’s Joint Committee on Taxation. Wind credits may reach $3.6 billion annually by the fiscal year ending in 2018, the committee reported.
This tax credit is also paid by us - the government is not charging these crony corporations $3.6 Billion per year which the government has to collect from somewhere else. Our pocket books one way or the other. Promoting nuclear (especially liquid salt Thorium reactors) is the only viable solution. That we are not promoting this technology is criminal.
