BrightSource and the Fracking Task Force

Bad stuff always happens on Friday the 13th.  So it was on Friday that BrightSource Energy, the large solar energy company that has already received $868 million of a $1.6-billion loan guarantee, canceled its IPO application.  And that same day, President Obama appointed Heather Zichal to head a new high-level task force to coordinate regulation of hydraulic fracking.  The two events, both highly inauspicious, were not unrelated. The connection is simple and obvious: in order to prop up failing solar companies, Obama needs to force natural gas prices higher.    Solar energy companies like BrightSource can't seem to compete without government subsidies, loan guarantees, and mandates.  Left to their own devices, without a trillion dollars in direct and indirect subsidies, state mandates requiring the purchase of green energy at whatever price, and the support of environmentally active nonprofits, companies like BrightSource might not have gotten off...(Read Full Article)

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