The Obama administration’s track record with taxpayer-funded, green-tech subsidies is severely flawed, and according to new documents obtained by CBS News, its failures were all too predictable. The Energy Department's $535-million loan guarantee to Solyndra is, at least publicly, its most illustrious investment blunder, as the company went bankrupt last year leaving taxpayers with a hefty bill and putting more than 1,000 employees out of work.
With so many of our most essential liberties under attack from the oligarchy on the Potomac, it is little wonder that the freedom of the press and speech are next on the government guillotine.
In 2007, Congress passed and President George W. Bush signed the Energy Independence and Security Act (EISA). In keeping with Bush’s 2006 State of the Union pledge to make ethanol “not just from corn but from wood chips and stalks of switch grass … practical and competitive within six years,” the law included subsidies for ethanol production and mandates for its use. By 2011, oil companies were required to blend 250 million gallons of this cellulosic ethanol into their gasoline. The mandate doubled for 2012, and by 2022 it will be 16 billion gallons.
Google announced Tuesday a new social networking maneuver that will rummage through photos and commentary on its budding social network, Google+, so search results can provide more personal information for web browsing. The addition, which was employed the same day it was announced, will tailor search results by filtering content to the unique interests of each user browsing the Internet.
Interior Department Secretary Ken Salazar has imposed a 20-year ban on new uranium mining claims on one million acres of public land near the Grand Canyon. The ban would not affect 3,000 mining claims currently staked in the area, which is rich in high-grade uranium.
A failed southeast Georgia ethanol factory was sold Tuesday for pennies on the dollar after squandering tens of millions in federal and state tax dollars. Range Fuels, a bankrupt U.S. cellulosic ethanol company, sold its only factory, located in Soperton, Georgia, to LanzaTech, a biofuel company based in New Zealand.
Due to new federal air pollution regulations, more than 32 power plants across the country will be forced to close their doors, according to a recent Associated Press survey. Those plants, which are mostly coal-fired, discharge enough electricity to supply more than 22 million households, the survey notes, and their closure will lead to job layoffs, depleted tax revenues, and a considerable hike in electric bills. The areas that will be hit hardest are the Midwest and in the coal belt (Virginia, West Virginia, and Kentucky), where dozens of plants will likely be retired.
The field of private space ventures is gaining a new competitor, Stratolaunch Systems, the brainchild of former Microsoft cofounder Paul Allen. According to press reports, Allen is prepared to commit at least $200 million of his own fortune to the creation of a launch vehicle he believes will allow for inexpensive launches of satellites into low Earth orbit.
Members of the House Homeland Security Committee unveiled legislation Thursday that would authorize the cybersecurity functions of the Department of Homeland Security (DHS) and establish a quasi-governmental entity to coordinate cybersecurity information-sharing with the private sector. The bill, called the Promoting and Enhancing Cybersecurity and Information Sharing Effectiveness Act (PrECISE), would station a national clearinghouse for information relating to potential attacks on critical infrastructure, such as electric grid, water facilities, and financial service systems.
The narrative continues over smartphone privacy issues involving the data logging program Carrier IQ, which was recently found to be installed on about 150 million handsets worldwide, including many popular Android, iOS, Nokia, and Blackberry devices. Controversy over the invasive software stemmed from allegations that Carrier IQ has the ability to record an array of device information, including keystrokes, text messages, web browsing, and user location, all without the user’s knowledge or expressed consent.
Government climate dignitaries and the Associated Press hailed the “landmark” deal reached Sunday at the United Nations' global-warming summit in Durban, South Africa. According to environmentalist groups, however, the agreement represented a failure of the 17th Conference of the Parties (COP17) to “save” the world from supposedly “dangerous” carbon dioxide emissions.