Sunday, October 21, 2012

Venture Socialsim and Losers

Venture socialism (as opposed to venture capitalism) will always fail because any type of socialism is destined to fail.  The reason for this is simple:  socialists use other people's money, and are therefore willing to expend it for political reasons as opposed to economic reasons.  When a venture fails, the socialist just blames the loss of jobs and the loss of capital on the market itself.  As Governor Romney has stated, this type of government intervention [socialism] picks winners and losers; however our current administration just seems to pick losers.

From The Foundry (Heritage), the complete list of faltering or bankrupt green-energy companies:

1.  Evergreen Solar ($25 million)*
2.  SpectraWatt ($500,000)*
3.  Solyndra ($535 million)*
4.  Beacon Power ($43 million)*
5.  Nevada Geothermal ($98.5 million)
6.  SunPower ($1.2 billion)
7.  First Solar ($1.46 billion)
8.  Babcock and Brown ($178 million)
9.  EnerDel’s subsidiary Ener1 ($118.5 million)*
10.  Amonix ($5.9 million)
11.  Fisker Automotive ($529 million)
12.  Abound Solar ($400 million)*
13.  A123 Systems ($279 million)*
14.  Willard and Kelsey Solar Group ($700,981)*
15.  Johnson Controls ($299 million)
16.  Schneider Electric ($86 million)
17.  Brightsource ($1.6 billion)
18.  ECOtality ($126.2 million)
19.  Raser Technologies ($33 million)*
20.  Energy Conversion Devices ($13.3 million)*
21.  Mountain Plaza, Inc. ($2 million)*
22.  Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
23.  Range Fuels ($80 million)*
24.  Thompson River Power ($6.5 million)*
25.  Stirling Energy Systems ($7 million)*
26.  Azure Dynamics ($5.4 million)*
27.  GreenVolts ($500,000)
28.  Vestas ($50 million)
29.  LG Chem’s subsidiary Compact Power ($151 million)
30.  Nordic Windpower ($16 million)*
31.  Navistar ($39 million)
32.  Satcon ($3 million)*
33.  Konarka Technologies Inc. ($20 million)*
34.  Mascoma Corp. ($100 million)

*Denotes companies that have filed for bankruptcy.

Green energy isn't really about energy as much as it is about control over the economy.  The vast majority of us are all for conservation and the minimization of pollution and waste, however that doesn't mean that we must embrace socialist or communist policies in the name of environmentalism.  While the current administration complains that one particular corporation (Exxon Mobil, which employs well over 100,000 people, provides a product to millions of people, and pays billions of dollars in taxes every year) uses one particular tax deduction (similar to deductions that many other companies use), we will remind you that this corporation also pays $3 in taxes for every $1 in profit.  Solyndra used our tax dollars and can no longer provide a product, profit, or employment to anyone due to the fact that they are a miserable failure.


Pep said...

Great post! I feel armed with new knowledge for my next encounter with a hippie.

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