FIAF- mystery musical guest artist edition

Strassel is always a must read:

Like Mr. Romney, Mr. Obama has presided over bankruptcies, layoffs, lost pensions, run-ups in debt. Yet unlike Mr. Romney, Mr. Obama’s C-suite required billions in taxpayer dollars and subsidies, as well as mandates, regulations, union payoffs and moral hazard. Don’t like “vulture” capitalism? Check out the form the president’s had on offer these past three years: “crony” capitalism.

The case study is the solar-panel maker Solyndra, which was part of a green-energy sector that even by 2009 was flailing. The president took one look at the industry’s utter lack of both profits and sellable products, and yelled “that’s my baby!” The stimulus bill shipped tens of billions of dollars to the Energy Department to pour into green companies via grants and loans. It promised five million jobs.

But that didn’t stop our President. He had an agenda, and being the smartest man in American he went FORWARD.

Unable to compete, the firm went bankrupt last year. And, oh, the carnage! It was kind of like . . . GST Steel! Only worse. Solyndra laid off 1,100 employees. It provided no severance, not even back pay due for vacation credits. But a bankruptcy judge would later approve $370,000 in bonuses for 20 employees.

Oh my. Well, that is an inconvenient fact.

So, on Thursday, Obama was at TPI Composites, a wind blade manufacturing plant:

“My takeaway is that the White House is very serious about getting an extension of the production tax credit,” he said.

TPI has 700 employees at its Newton facility, and the production tax credit has been instrumental in helping it an other companies develop wind industry, Lockard said.

“Without it, with the very low price of natural gas, we just couldn’t be competitive,” he said.

Ok, let’s disassemble that a bit. Without a government tax credit, they couldn’t be competitive.

BECAUSE IT’S NOT COMPETITIVE. It costs too much, so it’s currently being subsidized by the government. You know, our little store could be a TON more competitive with some money from Obama’s stash.

“If Congress doesn’t act, companies like this one will take a hit,” Obama said. “Jobs will be lost. That’s not a guess, that’s a fact. We can’t let that happen.”

@@

How much is this tax credit? Time for some effen knowledge:

The second tax credit, which has already expired, applies to manufacturers investing in clean energy in the United States. As the president often calls for America to compete in the 21st century though investments in renewable sources of energy, the Advanced Energy Manufacturing tax credit would apply to companies creating solar panels, wind turbines, and geothermal fuels. The tax credit, which was part of the Recovery Act, was over-subscribed in its funding. The White House would like to see an additional $5 billion to support projects that did not receive funding in the initial program.

Five BILLION dollars. A billion here … a billion there. Soon we’re talking about BIG money.

At issue is the PTC – or the Production Tax Credit. Operators get 2.2cents per kilowatt hour generated. Quick review: Turbines costs MILLIONS to produce and the sale of it’s power is only competitive if the government adds money to the kitty.

The Green energy boondoggle.

Heritage points out four big problems with Obama’s Energy subsidies.

Now, for a bit of music. Nobody likes MY stuff, so today I’ll pick something my kids have downloaded onto my iTunes library. I have no idea who she is. This, at least, is listenable.

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6 Comments on “FIAF- mystery musical guest artist edition”

  1. John Kidle Says:

    At least it’s not Taylor Swift.

  2. Hotspur Says:

    I didn’t listen to it. Does that make me a liberal?

  3. Car in Says:

    I kind of like the idea of picking some of the random crap my kids have been listening to.

    let everyone mock THEM, instead of me, for a while.

  4. John Kidle Says:

    I have no doubt your children are very excellent young people, but there is no accounting for the musical tastes of our youth.

  5. Car in Says:

    Yea, I thought it was kinda boring. SHe has an interesting voice, but the song just kinda drones on.


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