dalton's green scam is being exposed. The events around the world are showing green energy is not a solution. it just creates more problems mostly with billions of taxpayer's money.
This week, Solyndra, a California-based solar manufacturer touted as the future of green production by President Barack Obama, went bankrupt, taking with it a US$535-million loan guarantee from the U.S. government. It was the third U.S. company to file for bankruptcy in recent months, while two German companies have said they are shutting their U.S. plants. The cause is a 50% slide in solar-grade silicon prices, the result of Chinese producers ramping up production.
A study from the University of Madrid should give Ontario voters even more pause for thought. Spain experienced a state-sponsored solar bubble that was, in the words of the authors, "ter-ribly economically counterproductive." Spain was at the forefront of supporting renewable energy with billions of taxpayers' dollars, but the study found that for every green job created, massive government subsidies killed more than two jobs, principally because the higher cost of electricity affected the cost of production for energy intensive businesses. It concluded that the jobs created were few in number, mainly in construction and installation, at a cost of $775,000 each.
"These costs do not appear to be unique to Spain's approach but are instead largely inherent in schemes to promote renewable energy sources," the study concluded.