Another Government Funded Alternative Energy Scheme Goes Belly Up
J.J. Jackson | October 15, 2012
How much money could we save if the government would stop trying to bend the laws of economics into something where socialism and wealth redistribution actually worked? Loads. Seems like you cannot even go a week without hearing about some “green energy” scheme funded by the federal government going belly up.
Here’s yet another failure of the Obama Administration’s economic ignorance: Compact Power. Compact Power was to make battery’s for cars like the Chevy Volt. You remember the Volt right? That car that is in such low demand that the plant making them had to be idled twice this year alone? The car that is so expensive and so unwanted by the public that it needs government subsidies out the wahzoo to even get buyers to consider it?
Well, Compact Power in Holland, Michigan got $150 million of our taxpayer dollars to make batteries for the car. And guess what? If you guessed Compact Power is shuttering its operations and walking away, you would be right.
The plant only ever employed 200 people, a cost of $750,000 per job created. And now those jobs are going the way of the Dodo bird.
In the end it was another attempt to stimulate the economy in ways that it cannot be stimulated in the real world AND work. But hey, it sounded good at the time and probably bought liberals like Barack Obama a couple votes. All it cost you was more debt for your children to have to repay. But then, since when do liberals care about the children right?
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J.J. Jackson is a libertarian conservative author from Pittsburgh, PA who has been writing and promoting individual liberty since 1993 and is President of Land of the Free Studios, Inc. He is the Pittsburgh Conservative Examiner for Examiner.com. He is also the owner of The Right Things - Conservative T-shirts & Gifts. His weekly commentary along with exclusives not available anywhere else can be found at LibertyReborn.com (Digital Fingerprint: libertyreborn123456789)
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