Right On Daily Blog

Obama’s Clean Energy Investments Are “A Case Study Of What Can Go Wrong When A Rigid Government Bureaucracy Tries To Play Venture Capitalist.” “The Obama administration’s vaunted initiative to catalyze the U.S. clean-energy industry — under attack for betting half a billion dollars on the solar-panel manufacturer Solyndra, which closed last month — has become a case study of what can go wrong when a rigid government bureaucracy tries to play venture capitalist and jump-start a nascent, fast-changing market.” (Steven Mufson And Carol D. Leonning, “Some Clean-Energy Firms Found US Loan-Guarantee Program A Bad Bet,” The Washington Post, 9/26/11)

In August 2011, Solyndra Announced That It Would File For Bankruptcy, “Immediately Laying Off 1,100 Employees.”“Solyndra, a Fremont solar tech manufacturer, announced Wednesday it is suspending operations and immediately laying off 1,100 employees. The company said it will also file for bankruptcy.” (George Avalos, “Fremont Solar Tech Firm Solyndra To Shut Down, Lay Off 1,100 Workers,” The San Jose Mercury News, 8/31/11)

• A Total Of 1,861 Workers Were Laid Off By Solyndra As It Went Bankrupt. “Since September 1, 2010 (impact date), an estimated 1,861 workers have been separated from the firm.” (Employment And Training Administration, “Investigative Report TA-W-80,410; Solyndra LLC,” Department Of Labor, 9/12/11)

In November, Fisker Automotive Filed For Chapter 11 Bankruptcy. “Fisker Automotive, the moribund maker of the Karma plug-in hybrid sports cars that was backed with a loan by the U.S. government, filed for Chapter 11 bankruptcy protection on Friday after lengthy efforts by investors to salvage the company.” (Deepa Seetharaman And Timothy Gardner, “UPDATE 2-Fisker Files Chapter 11 As Investor Group Buys Company,” Reuters, 11/22/13)

• Reuters’ Headline: “Fisker Automotive Failure Could Hit U.S. Taxpayers For Years To Come.” (Tom Hals, “Fisker Automotive Failure Could Hit U.S. Taxpayers For Years To Come,” Reuters, 11/25/13)

In September, The Obama Administration Announced The “First Federal Carbon Limits On The Nation’s Power Companies.” “The Obama administration on Friday announced that it was not backing down from a confrontation with the coal industry and would press ahead with enacting the first federal carbon limits on the nation’s power companies.” (Michael Shear, “Administration To Press Ahead With Carbon Limits,” The New York Times, 9/20/13)

• The Regulations Are “An Aggressive Move By Mr. Obama” That Will Bypass Congress. “The proposed regulations, announced at the National Press Club by Gina McCarthy, the administrator of the Environmental Protection Agency, are an aggressive move by Mr. Obama to bypass Congress on climate change with executive actions he promised in his inaugural address this year.” (Michael Shear, “Administration To Press Ahead With Carbon Limits,” The New York Times, 9/20/13)

As A Result Of New Environmental Regulations, Dozens Of Coal-Fired Plants Are Likely To Close Over The Next Decade.“Now the government and utilities are taking on what may be a stiffer challenge: reducing pollutants whose effects are harder to see, like mercury and greenhouse gases. As a result, dozens of coal-fired plants are likely to close over the next decade as utilities conclude it isn’t cost-effective to bring old coal generators into compliance with environmental rules.” (Rebecca Smith And John W. Miller, “The Future Of Coal: New Pollution Rules Choke Old Power Plants,”The Wall Street Journal, 1/7/14)

“The U.S. Environmental Protection Agency’s Long-Awaited Guidelines Are Expected To Make It More Difficult For New Coal-Fired Power Plants To Be Built.” (Valerie Volcovici, “U.S. EPA Sets First-Ever Curbs On Power Plant Pollution,” Reuters, 9/20/13)

Harvard University’s Daniel P. Schrag, One Of Obama’s Advisers On Climate Change, Said “A War On Coal Is Exactly What’s Needed.” “Daniel P. Schrag, a geochemist who is the head of Harvard University’s Center for the Environment and a member of a presidential science panel that has helped advise the White House on climate change, said he hoped the presidential speech would mark a turning point in the national debate on climate change.  ‘Everybody is waiting for action,’ he said. ‘The one thing the president really needs to do now is to begin the process of shutting down the conventional coal plants. Politically, the White House is hesitant to say they’re having a war on coal. On the other hand, a war on coal is exactly what’s needed.’” (John M Broder, “Obama To Outline Ambitious Plan To Cut Greenhouse Gases,” The New York Times, 6/25/13)

• Schrag: “The One Thing The President Really Needs To Do Now Is To Begin The Process Of Shutting Down The Conventional Coal Plants.” (John M Broder, “Obama To Outline Ambitious Plan To Cut Greenhouse Gases,” The New York Times, 6/25/13)