November 13, 2011

A Gold Rush of Subsidies in Clean Energy Search - NYTimes.com

Corporate welfare based more on ideology than realistic economics is not good for America's fiscal health. Any policy that builds in a no-fail parameter is simply bad public policy, except for projects that are for the military, or health, or the environment, or... pick your favorite.

"...The government support — which includes loan guarantees, cash grants and contracts that require electric customers to pay higher rates — largely eliminated the risk to the private investors and almost guaranteed them large profits for years to come. The beneficiaries include financial firms like Goldman Sachs and Morgan Stanley, conglomerates like General Electric, utilities like Exelon and NRG — even Google..."

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