Green Jobs Failure Update

[brenthutch 444]

Or Obama's Bundlers Boondoggles.

The 2009 stimulus directed around $90 billion toward green initiatives, including loan guarantees for green energy firms, money to weatherize homes, green jobs training grants, and many other projects.

In an audit released in September, the Department of Labor's inspector general found that a $500 million program for training people with so-called green skills has so far produced only 1,336 jobs that have lasted over 6 months, with $163 million already spent. This amounts to $121,856 per successful green trainee.

The Obama administration had an idea that would solve the jobs crisis and our environmental woes in one fell swoop. They gave loans and grants to green energy and research companies in order to move the market forward and enable the companies to hire more employees.

- SunPower, after receiving $1.5 billion from DOE, is reorganizing, cutting jobs.
- First Solar, after receiving $1.46 billion from DOE, is reorganizing, cutting jobs.
- Solyndra, after receiving $535 million from DOE, filed for bankruptcy protection.
- Ener1, after receiving $118.5 million from DOE, filed for bankruptcy protection.
- Evergreen Solar, after receiving millions of dollars from the state of Massachusetts, filed for bankruptcy protection.
- SpectraWatt, backed by Intel and Goldman Sachs, filed for bankruptcy protection.
- Beacon Power, after receiving $43 million from DOE, filed for bankruptcy protection.
- Abound Solar, after receiving $400 million from DOE, filed for bankruptcy protection.
- Amonix, after receiving $5.9 million from DOE, filed for bankruptcy protection.
- Babcock & Brown (an Australian company), after receiving $178 million from DOE, filed for bankruptcy protection.
- A123 Systems, after receiving $279 million from DOE, shipped some bad batteries and is barely operating. It cut jobs.
- Solar Trust for America, after receiving a $2.1-billion loan guarantee from DOE, filed for bankruptcy protection.
- Nevada Geothermal, after receiving $98.5 million from DOE, warns of potential defaults in new SEC filings.

[billvon 3,120]

Good news for most Americans (but bad news for Brent here) -


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SpaceX Launches Cargo Flight to Space Station

By ANDY PASZTOR

A private rocket and cargo spacecraft owned by Space Exploration Technologies Corp. blasted off from Florida on Sunday night as the company sought to begin regular commercial shipments to the international space station, a development intended to transform U.S. space flight.

SpaceX launches a cargo flight to the International Space Station as the U.S. moves to rely on private, and not Russian, flights to bring both astronauts and cargo to the $100 billion station.

The trouble-free countdown followed by liftoff at 8:35 p.m. ET, precisely as scheduled, sent the 227-foot Falcon 9 rocket toward the orbiting space laboratory. Using more than 850,000 pounds of thrust to reach supersonic speed about one minute after ignition, it carried a teardrop-shaped, unmanned Dragon capsule filled with roughly 1,000 pounds of supplies. The spacecraft is expected to dock with the space station Wednesday and return three weeks later. . .

The launch capped a contentious, seven-year federal effort to privatize flights to service the space station, orbiting about 220 miles above the Earth. Since the retirement of its space-shuttle fleet, the U.S. has relied on Russian flights to bring both astronauts and cargo to the $100 billion station. Now, for the first time, the U.S. government will use commercial terms to pay per pound of cargo successfully shipped solely on American vehicles, although proposed astronauts flights are at least three years away.

The flight also marks one more important milestone for Elon Musk, founder and chairman of SpaceX, as the closely held Southern California company is known. Barring major problems in delivering goods into orbit and safely returning items back to Earth, the company stands to receive $1.6 billion in revenue over the next five years.
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Sorry, Brent, Elon Musk (also the owner of Tesla, which I know you despise) scored a big one here. And even more depressing, it was funded by the government (call it a "stimulus" if you like) and is now moving into the commercial arena. And it employs about 2000 Americans, which is sure to depress you.

But stay strong - there was an engine failure during the launch, so at least there's something you can gloat about.

[brenthutch 444]

[brenthutch 444]

I never knew that you were such a big fan of privatization. So if you thinking is consistent, you would be a big fan of Backwater. As far as myself, I have been a lifelong supporter of the space program and believe that government does have a role to play in BASIC research. I have been designing, building and launching rockets since I was seven years old. I became inspired when I found that I was a distant relative to Robert H. Goddard. (I will give you a hint; guess what the H stands for)