Wednesday, November 7, 2012

Green Graveyard: 19 Taxpayer-Funded Failures

By: Rachael Slobodien
While there’s speculation over which federally supported green energy company may be the next to declare bankruptcy, plenty have already gone belly up. In one of the most extensive compilations to date, Heritage has identified 19 bankrupt green energy companies—unable to make it even with the $2.6 billion in financial assistance and incentives the government promised.

The problem is that these taxpayer-funded handouts never achieve the intended objective. Rather, they artificially support politically preferred companies and industries, like green energy, while shifting jobs and resources from another sector of the economy.

Read More: The Foundry