If you are one who turns to television and movies for philosophical purity, then you’re led to believe that alternative energy is the great liberator of the future. Alternative energy, if one listens to Former President Clinton, current President Barack Obama, Oliver Stone and other movie makers and television producers, is the wave of the future and the cure to all that ails us. They will all tell you that alternative energy is the last, great untapped market. If you listen to these theoreticians, you would be led to believe that alternative energies will lead us out of 9% unemployment, reliance on Middle East oil, and to a better, cleaner future. Results and statistical data, and facts and figures, suggest that this isn’t true in the present. The failure of a company like Solyndra also shows that this probably won’t be the case anytime in the near future either.
Solyndra was a company that promised to offer innovative and expensive solar panels. They were given $535 million by the Obama Administration to help them compete in the solar panel market. Representative Henry Waxman (D-CA) says that, “If you disagree with the idea that the government should help companies compete in a market with your money, you are probably science denier.” He furthers this point saying that, “the idea that government should not pick winners and losers among private companies has some superficial appeal among those who doubt that climate change was brought on by burning fossil fuels.”
Executive director of energy (DOE) loan programs, Jonathan Silver, concurred saying: “This (loan) wasn’t picking winners and losers — it is helping ensure that we have winners here at all.”
In other words, Silver is saying that the loan wasn’t about picking winners and losers. It was about picking winners. Unfortunate for the administration, it appears as though Solyndra turned out to be a loser, but the administration could not have known that…Unless they listened to Bush’s DOE…or given even a “cursory glance through their prospectus”.
Those reading Silver and Waxman’s comments can only guess that they knew Solyndra wasn’t a winner at the time, but that there was a need (with our money) to create one. Peter Lynch, a New York-based solar energy analyst, furthered the idea that Solyndra wasn’t a company worth investing when he told ABC News, “It took only a cursory glance through Solyndra’s prospectus to see there was a problem with their numbers.
“It’s very difficult to perceive a company with a model that says, well, I can build something for six dollars and sell it for three dollars,” Lynch said. “Those numbers don’t generally work. You don’t want to lose three dollars for every unit you make.”
If we were to listen to guys who seem to know what they’re talking about, like Peter Lynch, you learn that Solyndra was probably never going to be “a winner” in this market.
The Chinese then made the Obama administration look like fools when they flooded the solar panel market, dropped the prices, and caused Solyndra to collapse. Who could’ve predicted that? Apparently, a near majority of those in the know did predict Solyndra’s failure. They may not have known the specifics of this failure, but they predicted failure based on logic that was based on Solyndra’s math and accounting, and prospectus.
Barack Obama’s initial reaction to all of this has been: “Pass my bill! I don’t know what they (Congress) are waiting for! If you love me, get them to pass this bill” Some would say that drawing such A to B correlations is unfair, since the new Jobs Bill has nothing to do with Solyndra other than the result of poor timing. It could be said, however, that Obama has a very poor record when it comes to “job creation” and spending money to stimulate the economy. Some would say that Obama isn’t interested in job creation in a macro, comprehensive manner, but that he directs our money to politically friendly enterprises that he “deems” responsible. Some would say Solyndra is an example of this. Some would say the Obama Administration knows nothing about how business operates, but they know politics, and they know theory. They knew that if Solyndra succeeded it would’ve been better for our country, regardless of that business’s accounting, their business behind the business, or their prospectus at the time. It should also be noted that when one reads through the emails in the Office of Management and Budget (OMB), there were warnings about the business, but the administration went ahead with it anyway. They went ahead with it to the tune of $500 million dollars (of our money) in funding. They “rushed” it, according to a House sub committee’s findings, so that Vice-President Biden wouldn’t be embarrassed at the public groundbreaking Solyndra ceremony.
Some people are saying that bloggers, and everyone not in the mainstream media, should lay off what should be called an honest mistake. No one in the administration intended to waste money. There was no fraud or crony capitalism in this move. It was a move done with the best intentions. Examining the “results” with such a microscopic, fine toothed comb is a bit over the top. It was a move initiated by the Bush Administration that the Obama Administration approved and moved forward with. To this, we must provide the disclaimer that Bush never went forward with the loan, so that’s off the table. After clearing that up, if we’re going to take fraud and/or crony capitalism charges off the table, then we must start asking questions about competence.
And liberals and Obama loyalists are willing to concede negligence on this matter as long as bloggers, and everyone not in the mainstream media, are willing to give up on the fraud and/or crony capitalism charges. At this point in the investigation, you’re right, we don’t have evidence of fraud and/or crony capitalism charges against the administration, but we still have the lingering incompetence issue nagging at us. We still have annoying people, who claim that they work hard for their money, who are sick of government officials asking us to pay more in taxes when they continue to make honest and habitual mistakes with our money by investing it in companies to which they have emotional (at the very least) attachments.
Obama supporters are all over the internet saying that this loan was three years in the making. They say that the Bush administration is responsible for laying the groundwork for this loan, and that Obama merely hit the “send” button. Fortunate for the Bush Administration, his (DOE) put up a yellow flag on this loan. “As opposed to a red flag,” say Obama supporters. “Bush’s DOE didn’t totally nix the loan. They only cautioned against it.” Fair enough, but the Bush Administration heeded that warning. The Obama Administration didn’t. The Obama Administration pushed it forward to completion. Obama wanted it included in the 787 billion dollar stimulus. They pushed through the yellow flag, in other words, in an effort to see the checkered flag of victory. What they received, as we all know now, is a horrific crash that bloggers, and everyone not in the mainstream media, are oohing and awing at.
While I’m sure the Bush Administration was disappointed at the appearance of the yellow flag, and their subsequent inability to take advantage of the opportunity to appear high-minded and open-minded to alternative energies, they didn’t pull the trigger.
We’re talking bottom line here. Regardless all the back and forth, he said/she said arguments, the Bush Administration did not go forward with it. We’re talking about the fact that no one cares that Chad Henne threw for 416 yards with two touchdowns on Monday Night Football, the Dolphins didn’t win. No one cares that the Steelers won the AFC Championship last year, they didn’t win the Super Bowl. No one cares that the Bush administration initiated the loan procedure with Solyndra, they didn’t follow through with the loan when DOE officials informed them that Solyndra would probably run out of money by September 2011. (Yes, they predicted September 2011!) To follow the football analogy to completion, Bill Parcells says, “You are what your record says you are.” You can talk about injuries (or good intentions), a draft pick that didn’t pan out (bad luck), or what the previous administration did, but in the end “You are what your record says you are.” The only difference is when Parcells, the Steelers, or Chad Henne don’t succeed you have a disappointed fan base. When the government fails to succeed in performing their job at a high level, you have waste and more spending, and a call for more taxes from individuals to help make up for their honest and habitual mistakes.