Many global warming skeptics think taxpayers are being swindled into supporting companies that have developed in response to climate change hysteria. While clean energy is widely recognized as a current and future goal, global warming skeptics are particularly troubled by federal investment in industries motivated by what they consider bogus climate change science. According to
The Washington Times, "Given the precarious state of the global economy, the green conversion is nothing more than an expensive sham."
The perspective that global warming is caused by human activity is widely promoted by the media and generally accepted by the public. From politicians, climate change activists, and a percentage of scientists, to the academic curriculum taught from grade school through college, anthropogenic global warming has been strongly endorsed as a scientific consensus.
It is no wonder then that in a climate of fear, urgency, and opportunity, many industries have developed technology and products in response to the perceived threat of global warming. Skeptics however, consider these industries willing participants in a global warming swindle.
Here are four green industries that global warming skeptics say have swindled tax dollars:
1. Solyndra is a solar panel company in California that was funded by President Obama's clean-energy loan program. The alternative energy company received a $536 million U.S. Energy Department loan in 2009 and made promises of job creation, innovative energy production and technology that could be duplicated. Solyndra also received $25.1 million in tax breaks from California's Alternative Energy and Advanced Transportation Financing Authority.
However, the company failed to live up to its promises and went bankrupt in 2011.
2. Fisker Automotive is a premium car manufacturer that received a $192 million loan from the U.S. Energy Department. Initially it received $529 million to produce a hybrid vehicle called the Karma, which was an electric luxury car purported to have a fuel economy of 52 mpg, a statistic that was music to the ears of global warming activists. However, Fisker had financial issues and eventually filed for bankruptcy in 2013. Fisker's government loans were sold to China at a net loss and according to
The Daily Caller, this resulted in "the biggest taxpayer loss on a green loan since the failure of Solyndra."
3. Abound Solar is yet another company that global warming skeptics would say swindled taxpayer funds. The company filed for bankruptcy after using at least $68 million of a $400 million federal loan.
The New York Times quoted U.S. Congressman Jim Jordan (R-Ohio) as saying, "Our government is not good at picking winners and losers in the marketplace but has certainly proved it is good at wasting taxpayer dollars.”
4. Nevada Geothermal Power received a loan of $98.5 million to produce "clean and sustainable" energy but according to
The Washington Times, "incurred $98 million in net losses over the past several years, has substantial debts and does not generate enough cash from its current operations after debt-service costs."
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