Thursday, March 22, 2012

After the subsidies

Well Solyndra went belly-up and they've halted production of the Chevy Volt.  But the Obama administration insists that we need to give these clean energy alternatives a chance (with taxpayer money, of course).  But what happens to a long-and-heavily subsidized "clean" energy source has its crutch taken away?  NPR: "Ethanol industry lurches in wake of lost subsidy, oversupply."
After predicting they would survive the end of a major federal subsidy without problems, it looks like officials at the nation's ethanol producers may have been too optimistic.
Since the subsidy ended Dec. 31, ethanol profit margins have declined sharply, even slipping into negative territory. Experts see no quick turnaround in sight.
Whoops.  If only we had given ethanol a couple more decades.

Extra - Hot Air: "Green-jobs subsidies created 1 job for every $4.85 million spent."

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