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Friday, May 4, 2012

Solyndra dwarfed by $2.1 billion Solar Trust of America alternative energy bust

The amount of money going up in the smoke of solar energy company failures is staggering. And It’s deliberate.

No one could seriously believe there is a source of energy to replace oil anywhere in the near future.

Solar, wind, and batteries combined, let alone one or the other,  cannot fly a 747 with today’s technology and they know it. So what’s going on is the deliberate economic destruction of America.

It’s not an just Obama problem, it started long before him. He’s just the latest and greatest tool for the Luciferian bankster cartel. The banksters are the ones who have decided that now is the time to spend us into oblivion.

The Biggest Solar Blowup Yet

Posted by Brian Sussman in About The Book, Climate and Weather on Apr 3rd, 2012

Solyndra flushed a half-billion taxpayer dollars down the drain, and now there’s another government-funded solar firm that has tanked.

Solar Trust of America was the proud recipient of a $2.1 billion low-interest loan from the Department of Energy. The money was to be spent on the expansion of the company’s 1000 MegaWatt Blythe Solar Power Project in Riverside, California.

According to Solar Trust: “This project construction is expected to create over 1,000 direct jobs in Southern California, 7,500 indirect jobs in related industries throughout the United States, and more than 200 long-term operational jobs at the facility itself. It will play a key role in stimulating the American economy,” said Uwe T. Schmidt, Chairman and CEO of Solar Trust of America.

As Bloomberg notes: “The company joins Energy Conversion Devices Inc., a U.S. solar manufacturer that suspended production last year; LSP Energy LP, the owner of a natural-gas-fired power plant in Mississippi; Ener1 Inc., maker of lithium-ion batteries for plug-in electric cars; solar-panel maker Solyndra LLC; and energy storage company Beacon Power Corp. (BCONQ) in bankruptcy.”

Once again, we have a grossly indebted government, funding a bleeding-edge, inefficient alternative energy source. As I explain in Eco-Tyranny, the outlandish subsidies being handed out to solar and wind are preventing these hopeful energy sources from near-term viability.

1 comment:

  1. Solar Trust of America received loan GUARANTEES. They did *not* receive the money but declared bankruptcy prior to the money being handed out to them.

    ReplyDelete