View Full Version : Green jobs' story has Department of Energy ...
I hope what most of this guy says is true, if not they better nail these A holes over @ Solyndra!
With the controversy of the Obama administration’s handling of a loan grant to Solyndra at a full boil, the Department of Energy is pushing back hard against claims that the federal loan program has utterly failed to meet the big promises it made two years ago.
A Washington Post story published Wednesday asserted that the $38.6 loan guarantee program, which the administration touted would create or save 65,000 jobs, has only managed to directly create 3,545 permanent new jobs after having allocated almost half of the funds.
Dan Leistikow, the director of the DOE’s office of public affairs, hit back with a blog post Thursday morning, slamming facts in the story as “incomplete and inaccurate.”
The Post’s claim that the program has only created 3,500 jobs so far excludes some other important facts, Leistikow said. These include 33,000 American auto jobs saved at Ford, more than 7,300 construction jobs and “supply chain jobs,” he said.
“Many of the projects it has funded are just getting going, and many of the loans won’t even go out the door until the next few weeks. Others have not ramped fully up to scale. But we are on pace to achieve more than 60,000 direct jobs – and many more in the supply chain,” Leistikow wrote.
Moreover, the Post was accused of having “completely ignored” the fact that the value of the program “can’t be measured by jobs alone.”
According to the DOE’s Loan Program Office website, 42 companies have been offered loans. One of these companies is Solyndra Inc., the solar manufacturing plant in Fremont, Calif., that was approved for a $535 million loan in September 2009.
Full story (http://www.politico.com/news/stories/0911/63609.html)
09-15-2011, 07:48 PM
Solyndra's Bankruptcy Shows the Failure of the "Green" Jobs Agenda Posted: 9/7/11 10:12 AM ET
The recent bankruptcy of solar-panel-maker Solyndra shows, once again, that the entire concept of "green energy" jobs was bankrupt from the start.
"Green jobs" are the last refuge of the subsidy seekers. Industries that can't survive in the free market like to claim they are creating "green jobs" because that helps them justify their subsidy-dependent businesses.
In February, the Renewable Fuels Association put out a report which claimed the domestic ethanol sector directly supports 70,000 jobs. The CBO estimates that each gallon of gasoline displaced by ethanol costs taxpayers $1.78. With the ethanol sector now producing the equivalent of 9.1 billion gallons of gasoline per year, the total cost to taxpayers of the ethanol scam is therefore about $16.2 billion. That works out to $230,000 per job created by an industry that produces a product that is inferior in nearly every way when compared to conventional gasoline. And yet Congressional mandates are forcing American motorists to buy motor fuel that has been adulterated with corn ethanol.
Similar problems are evident in the subsidy-dependent wind energy business, which is constantly touting "green" jobs as a justification for yet more taxpayer subsidies. The American Wind Energy Association even has a website, careersinwind.com, which promises to provide "all the information you need to be prepared for your new wind energy job." Unfortunately, the jobs created by the wind industry are so expensive that not even Boone Pickens, the Dallas-based billionaire who a few years ago was one of the wind business's biggest boosters, could afford many of them. Last December, the Texas Comptroller estimated that each "green" job associated with wind in Texas cost the state's taxpayers $1.6 million.
And now we have the announcement that Solyndra, which got a $535 million loan guarantee from the Department of Energy, has filed for bankruptcy. What was the problem? It couldn't compete with foreign manufacturers who were able to produce solar panels at lower cost. The result: 1,100 jobs were lost and American taxpayers are now on the hook for all or part of the loan guarantee.
Last May, during a visit to the Solyndra plant in California, President Obama said that "The true engine of economic growth will always be companies like Solyndra."
If that's true, then the U.S. economy is in even worse shape than we thought.
09-15-2011, 08:02 PM
".....That works out to $230,000 per job created by an industry that produces a product that is inferior in nearly every way when compared to conventional gasoline......"
This $****/job sort of analysis iz interesting.
I wonder what the equivalent rate iz for ordinary gasoline.
Corn ethanol (and ethonol gasoline) inferior in nearly every way??
I would think superior in nearly every way.
Newsflash just to hand.
A corn farm haz exploded killing 11 workers, and now 100,000 barrels/day of corn are leaking into the sea.
09-15-2011, 08:05 PM
"....Similar problems are evident in the subsidy-dependent wind energy business, which is constantly touting "green" jobs as a justification for yet more taxpayer subsidies....."
".....Last December, the Texas Comptroller estimated that each "green" job associated with wind in Texas cost the state's taxpayers $1.6 million....."
Hmmmm -- How much subsidy duz bigoil get???
Hmmmm -- How much duz each oil job cost???
09-15-2011, 08:13 PM
".....And now we have the announcement that Solyndra, which got a $535 million loan guarantee from the Department of Energy, has filed for bankruptcy. What was the problem? It couldn't compete with foreign manufacturers who were able to produce solar panels at lower cost. The result: 1,100 jobs were lost and American taxpayers are now on the hook for all or part of the loan guarantee.
Last May, during a visit to the Solyndra plant in California, President Obama said that "The true engine of economic growth will always be companies like Solyndra.
If that's true, then the U.S. economy is in even worse shape than we thought....."
Lots of industrys cannot compete with lower overseas prices.
And, yes, theusofa economy iz in even worse shape than u thort.
09-15-2011, 08:20 PM
"....... The recent bankruptcy of solar-panel-maker Solyndra shows, once again, that the entire concept of "green energy" jobs was bankrupt from the start.
"Green jobs" are the last refuge of the subsidy seekers. Industries that can't survive in the free market like to claim they are creating "green jobs" because that helps them justify their subsidy-dependent businesses......"
Bankrupt iz an interesting term and analogy.
I suppoze that that means that theusofa banks were bankbankruptrupt.
Did theusofa banks survive in the free market????
How duz it show that the entire concept of green-energy jobs woz bankrupt????
How "once again"???
How "from the start"???
What iz the first refuge of subsidy seekers???
Who are the subsidy seekers??? Big oil??? Farmers????
09-15-2011, 08:26 PM
Solyndra Shutdown – Theories on Why It Happened
September 1, 2011 | Filed underJob News | Posted by Aston Waldman
As a Bay Area resident with first hand experience working for a solar start-up, I found the news about Solyndra closing its doors to its 1,100 employees disconcerting to say the least.What is there not to love about the Bay Area – a hub of innovation and venture capital to fund those innovations. Having driven past their posh new headquarters a number of times, the thought that came to mind was “this is what Silicon Valley is all about”.
The history of Solyndra:
2005 – The manufacturer of rooftop panels is founded.
2006 – Headquarters are opened in Fremont, California.
2007 – Production begins.
2009 – Company receives a $535 Million government loan guarantee from the Department of Energy.
2009 – $100 Million in annual revenue is generated.
2010 – $140 Million in annual revenue is generated and President Obama personally visits Fremont headquarters.
2011 – Shipped 100th Megawatt.
2011-8-31 – Solyndra shuts doors to 1,100 employees.
All the way from 2005 to August 31, 2011, Solyndra was any pitch man’s dream Company or the kind of story CEOs dream of telling. What a story they had to sell, oops I mean tell. It was one of consistent improvement, new milestones and endorsement from the Country’s most powerful individuals.
So what the heck happened? And why did it happen so suddenly? Surely the finance team should have started taking steps months, if not years ago to prevent this from happening? Why couldn’t they get funding to cover any shortfalls? The questions are endless.
What happened isn’t clear but I have some theories about what happened.
Theory #1 – Fund raising / loans dry up.
It is normal for any start-up to have a forecasted cash graph that goes below zero. In a normal market, the Company would expect to be able to raise additional funds before they run out. They may even have investors / loans lined up and ready to go. All of a sudden Standard and Poor’s drops the US debt rating to AA+ and the stock market has a mini crash as a result. All of a sudden those investors / lenders the Company was counting on want to hold cash instead of invest in a risky new technology. All of a sudden, the Company doesn’t have enough time to find new investors before they hit zero cash.
Theory #2 – The technology was just not where it needed to be.
As I mentioned earlier, I have worked in a solar start-up that was so close to perfecting its product. So close. Unfortunately, ‘so close’ is no Cigar. The Company ran out of money but was lucky enough to be swallowed up as a division of a conglomerate. The product at Solyndra was in the field for 4 years, which may have been enough time for a major flaw to show itself. A flaw that is so debilitating it means no one in their right mind would choose Solyndra over any of their competitors. If this came to light, customers and investors would run far far away.
Theory #3 – Asset Retirement Obligation or “ARO”.
An ARO is where a company is responsible for cleaning up its own mess. Think BP’s oil spill in the Gulf of Mexico – that is a massive ARO. This is straight from Solyndra’s website: “By the end of 2010, Solyndra will have a program in place pursuant to which we will set aside funds at the time of sale to properly process and recycle our panels so that the recycled materials can be reused”. I take this to mean that the Company will cover the cost of disposing of their product when it is past its useful life. So what happens when the panels don’t last as long as expected? You end up with a massive liability to clean up every single sale you’ve made around the world.
Theory #4 – Incompetence.
I’m loath to even suggest this as a possibility because this should never ever happen at a Company with this many resources. Could a finance team have been so incompetent that they didn’t see this coming until it was too late to fix? I don’t think it could have happened but never say never….
Theory #5 – It has never been profitable from day 1.
I would personally bet on this theory. The Company talks about $100 million in sales in 2009 and $140 million in 2010. There is no mention of “profit”. If it costs $120 million to generate a $100 million in sales, you are not profitable. Being profitable means you have a positive cash flow. Companies that only talk about revenues usually have negative cash flows. Negative cash flows mean you’re going to go out of business eventually. Further support of this theory is the fact that they needed a government guarantee to secure the $½ billion loan they received. If the Company was cash flow positive and showing signs of success, investors would have been lining up at the door to invest, government guarantee or not.
Given the amount of attention this is getting, I’m sure a talented reporter is going to unearth what happened with Solyndra. Whatever happened, it’s another reminder that no matter how good things look on the surface they may be really bad at the core.
Gayle in MD
09-16-2011, 09:23 AM
Well, my friend, if you would watch the latest documentary, included in the series being aired on CURNT channel, of must watch documentaries, Al Gore - The Climate Project, and then research the amount of money that conventional energy sources are spending to divert attention from the devastation that is surely coming, due to burning fosile fuels, I think the whole issue of this company, would provide a huge change in the way people view these kinds of accusations of solar energy, it's potential, and the urgent need to invest in all forms of clean, renewable fuels.
The typical Neanderthal views of the Grand Oil Party, match their refusal to implement the very regulations that could prevent another meltdown.
How long are we going to allow this Repiglican party of lying Neanderthals, to block addressing every single emergency issues that we shoud have faced thirty years ago, from the dying Middle Class, which THEY created, to the threats of natural disasters, which we are viewing weekly, in the news?
Their goal is to block spending any money, regardless of the need to invest, block any regulations, that would prevent further disastrous consequences of their policies, and continue to create a totally lopsided economic distribution of wealth, which is at the center of our job loss emergency, created by their policies!!!!
Those who cannot see that the climate is changing, or appreciate the fact that ALL Scientific Studies, in ALL of the science communities, in every major country, agree on the threat of climate change, caused by the burning of fosile fuels.
We are being conned, with the aid of the Repiglican Party, The Gradn Oil Party, bought and paid for by every industry which is bleeding the world to death, by the lies and greed of the Oil and Gas industry, as they destroy this beautiful earth, and make us ill with disease, from their pollution.
Repiglicans promote the idea that those same suffering ill, who have been struck down will illness, deserve no financial aid, to help the them survive.
I must say, the intricacies of these accusations, are of little interest to me, compared to the urgency of investing in clean fuels.
If we are to protect this earth, and protect human life, life for our children and grandchildren, and the viability of the planet, we must open our eyes, and refute the lies and denials of the Oil Cronies on Capital Hill, and the uconscionable energy indsutry, whose on-going corruption and damage, is never held to any account, regardless of how often they excape their illegal and disastrous activities!!!
This story is of minute interest or consequence, given the larger story, which is being denied and propagandized, while the rest of the scientific world thinks us totally irrational, and irresponsible.
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