More Green Energy Follies

The past couple of weeks have been filled with bad news concerning President Obama's green-energy policies. On October 16, A123 Systems -- a manufacturer of lithium batteries for electric cars -- became "the fourth major clean energy company backed by the Obama administration to fail" when it filed for bankruptcy.  As the Washington Guardian reports, A123 Systems received "almost $6 million during the end of the Bush administration and then a $250 million grant from the American Recovery and Reconstruction Act after Obama took office."  By the time it declared bankruptcy, the company had spent $132 million of the federal grant.  If you add that to the $6 million the company received from the Bush administration, that is more than $138 million of taxpayers' money wasted on producing another green product for which there is little demand. The story of how A123 received federal funding is a familiar one: from 2007-2009, A123 systems spent more than $1 million...(Read Full Article)