THIS JUST IN!

We've just started a weekly podcast. Click on the Podcasts button above to find our shows.

The Great Renewable Energy Scam

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn
Solyndra

Credit: Zachary Graham, flickr.com
CC BY-NC-SA 2.0

by Mitchell Tu and David Kreutzer, The Daily Signal

At the recent inauguration of the Desert Sunlight solar farm, Secretary of Interior Sally Jewell stated, “This is the beginnings of a renewable energy future.”

Let’s hope she is wrong, because the Desert Sunlight project is cronyism at its worst. This project involves $1.5 billion of subsidized loans. It also mandated purchases of overpriced power, all to benefit the project’s owners. And don’t think those owners are struggling mom-and-pop operations. Instead, they’re three of the world’s largest corporations—GE (market capitalization of $247 billion), NextEra Energy (market capitalization of $47 billion) and Sumitomo Corporation (market capitalization of $13 billion).

Here’s how the scam works. It begins with proposing to build a solar plant. But solar plants take up a lot of land. Gosh, that can be expensive. So, the government rents them the land at bargain prices.

More …

© 2015 The Heritage Foundation

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

Sponsor

Recently Added

The Author

(C)WaitTilYouHearThis.com Website Admin (www.WebDesignManageSEO.com).
Follow

Get every new post on this blog delivered to your Inbox.

Join other followers: