Obama’s Green Energy Bets Keep Coming Up Short

“The only problem we have is these credits were working so well, there aren’t enough tax credits to go around.” – President Obama, July 9, 2010

Yesterday, battery maker A123 Systems declared bankruptcy. On Monday, Fisker Automotive, an A123 Systems customer, delayed production of its $55,000 mid-size gasoline-electric sedan by at least two years. President Obama’s deployment of taxpayer funds to pick winners and losers in the global energy economy is terrible policy that should end.

Obama energy bets

A Senate Republican Policy Committee analysis of President Obama’s failed investment of billions of taxpayer dollars in “green” energy companies is available here.