“Green Economy” Keeps Spending Govt Funds

By:  James Heiser
10/03/2011
       
“Green Economy” Keeps Spending Govt Funds

Claiming that the United States “can’t afford” to lose the race to develop the technologies necessary for a transition to a green economy, Acting Commerce Secretary Rebecca Blank defended the dispersal of millions of dollars in federal funds to the winners of the government’s i6 Green Challenge.

The i6 Green Challenge is undeniably a very small program; the challenge website acknowledges that approximately $12 million was available for “proof of concept” models. Under business-as-usual in Washington, D.C., the expenditure of $12 million would look like a departmental rounding error. In part, the i6 Green Challenge awards will receive a measure of public scrutiny because of the scandal surrounding President Obama’s favorite (at least until recently) example of a corporation of the new “green economy” — Solyndra — which recently found itself under investigation in connection with $535 million in loan guarantees that it had received from the federal government. The image of Solyndra being raided by FBI agents may continue to linger for a time — much to the chagrin of the President and his standard bearers in government and the media.

An article for CNSNews (“Acting Commerce Secretary: Despite Failures, ‘U.S. Can’t Afford’ Not to Subsidize Green Tech”) highlights the “good money after bad” strategy being employed by the White House: In short, pay no attention to the scandals and lack of success — the “green economy” must be pursued at any cost.

Claiming that the United States “can’t afford” to lose the race to develop the technologies necessary for a transition to a green economy, Acting Commerce Secretary Rebecca Blank (shown in photo) defended the dispersal of millions of dollars in federal funds to the winners of the government’s i6 Green Challenge.

The i6 Green Challenge is undeniably a very small program; the challenge website acknowledges that approximately $12 million was available for “proof of concept” models. Under business-as-usual in Washington, D.C., the expenditure of $12 million would look like a departmental rounding error. In part, the i6 Green Challenge awards will receive a measure of public scrutiny because of the scandal surrounding President Obama’s favorite (at least until recently) example of a corporation of the new “green economy” — Solyndra — which recently found itself under investigation in connection with $535 million in loan guarantees that it had received from the federal government. The image of Solyndra being raided by FBI agents may continue to linger for a time — much to the chagrin of the President and his standard bearers in government and the media.

An article for CNSNews (“Acting Commerce Secretary: Despite Failures, ‘U.S. Can’t Afford’ Not to Subsidize Green Tech”) highlights the “good money after bad” strategy being employed by the White House: In short, pay no attention to the scandals and lack of success — the “green economy” must be pursued at any cost.

Click here to read the entire article.

Photo: Rebecca Blank

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