Friday, November 27, 2015

Obama's Green Initiatives Have Cost Us BILLIONS | The Federalist Papers

Think of Obama's failed energy policies, and Solyndra is probably the first to come to mind. The solar company went bankrupt a short two years following a $536 million loan guarantee from the Department of Energy. A high profile failure without a doubt, but hardly the only failed green energy project Obama's administration failed at propping up.
In total, taxpayers have been on the hook for over $2.2 billion in losses from other failed loan guarantees to supposedly "green" companies.
But that's hardly the tip of the iceberg.
It's not the losses from failed green energy subsidies that are shocking, but the losses from pressure Obama has put on the coal industry. Coal producers in West Virginia are expecting their costs of production to increase 40% under Obama's Clean Power Plan, which will have a devastating impact on the industry.