Obama Vows More Money for Green Energy: ‘When I Try Something That Doesn’t Work, Then I Don’t Try It Again'
By Fred Lucas July 16, 2012 CNS
Excerpt:
(CNSNews.com) – President Barack Obama told a Cincinnati audience on Monday that he does not make the same mistake more than once. Minutes later, he told the same crowd he would continue spending federal dollars on green energy.
The Obama administration has spent billions of taxpayer dollars on green energy companies, many of which either declared bankruptcy or created most of their jobs outside the United States. The most notable among these was Solyndra, which got a $535 million Energy Department loan in 2009, but declared Chapter 11 bankruptcy in 2011 shortly before being raided by the FBI.
Speaking in the critical swing state of Ohio on Monday, Obama blamed tax cuts and other policies of the Bush administration for the country’s economic problems. He said Republicans are not proposing any different ideas for this campaign season.
“I don’t know about you, but in my life what I’ve found, you know, sometimes I do boneheaded things, I make mistakes,” Obama said. “I find, when I try something that doesn’t work, then I don’t try it again. I don’t – you don’t go back to doing something that didn’t work.”
Less than 10 minutes later, the president pledged that continuing to “invest” in green energy would be part of his agenda if reelected.
“We’re going to invest in American energy,” Obama said. “Yes, we want to continue to expand our production of oil and natural gas, but I also want to make sure we are the leaders in solar and biodiesel – the energy of the future that can help reduce dependence on foreign oil.”
The Obama administration spent $9 billion on solar and wind projects from 2009 to 2011 resulting in the creation of 910 “direct jobs,” according to a report by the National Renewable Energy Laboratory, which is part of the Energy Department.
A study by the Heritage Foundation found that 19 of the companies that received loans or grants by the Obama administration have filed for bankruptcy or are in the process of doing so.
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