Saturday, Sept. 10, 2011 | 2 a.m.
The Las Vegas Sun’s Sunday editorial, “Looking to the future,” shows its vision is way off. On the same day a Bloomberg News story was published about Solyndra Inc., a solar panel company based in Fremont, Calif., that last week closed its doors and laid off 1,100 people. It is the third U.S. solar manufacturer to close in a month.
President Barack Obama used it as a photo op in 2010. His administration had provided a $535 million Energy Department loan guarantee that likely will never be recovered. The Bush administration (also drinkers of the “green” Kool-Aid) committed some taxpayer funds, too.
Your editorial rails against the billions of dollars in “handouts” to the oil industry, yet you say nothing about the nearly half-billion dollars sunk down this “green” rat hole, which produces nothing. At least the oil companies put gas in my car and pay taxes instead of sucking them up.
Your editorial says tax breaks and subsidies for renewable energy should be “seen as investments.” Pardon me, but investments yield returns. An investment that produces losses is charity.