Little Known but Important Facts

Have you ever heard of Solar Trust of America LLC? Probably not. Solar Trust has under construction in California what is described at the world's largest solar energy project. Under California law, the power companies are required to buy the output from this project, so there is a ready made market Solar Trust. Even so, Solar Trust filed for bankruptcy yesterday.

So another "green energy" company goes under, is that really important? The answer is clearly YES! What everyone needs to know is that in 2011, the Obama administration offered Solar Trust a loan guarantee of $2.1 billion. That's right, the folks who brought you Solyndra were trying to give Solar Trust over two billion dollars of taxpayer money.

It is unclear how much of the funds Solar Trust received. Initially, the company turned down the loan guarantee as too confining and tried to get funds in the private market. It needed the money since the German firms that own Solar Trust had decided not to put any further funds into the venture. You read that correctly! The owners of Solar Trust were not willing to put any more money into the venture, but the Department of Energy thought that it made sense to put over two billion dollars into the company.

We all know that president Obama has told us that one of the main reason for funding all these green energy projects is to create jobs -- green jobs. That is what the two billion dollars was intended to do. Here's another fun fact you all should know. When Solar Trust filed for bankruptcy yesterday, it employed nine people. That was not a reduction due to layoffs or anything like that. Solar Trust employed nine people. Just think, for a mere 2.1 billion dollars we could have kept those nine folks employed a bit longer. That is only a little over $200 million per job.

If anyone needed proof that Obama and the Obamacrats do not understand what they are doing with regard to "investments" in green energy, Solar Trust should satisfy that need.