Obama, how’s that “All new Energy” program working out..?Posted: March 21, 2012
Way back to my commodities broker days there is something that was inherently taught that goes like this: Where this is natural gas, there will be some oil because of the rational progression of growth and byproducts. As such in most normal circumstances where there is ore for gold in the same vein there will be oil and hence, natural gas. This is precisely what the Obama administration is counting on for our country’s domestic agenda for future alternatives to oil independence. This is the overall broader initiative pursuant to President Obama’s future energy resources.
In the interim he’s out there meeting up with executives from Solyndra regarding solar energy who – on paper – is a defunct company; consequently, whatever or whoever the president was using to peruse the records of Solyndra either knew about the company’s rate of default and/or the condition of the company.
Many of the problems that forced solar company Solyndra to shutter operations threaten other businesses in the sun-power industry, with more upheaval likely in the coming months, analysts say.
The bankruptcy last month of Fremont, Calif.-based Solyndra comes as solar manufacturing undergoes a major transition. Prices of solar panels have plummeted, causing a supply glut and slicing company revenues.
Solyndra’s collapse marked the third time in as many weeks that a solar company declared bankruptcy. Evergreen Solar Inc. of Massachusetts and SpectraWatt of New York also filed for protection.
Most people argue that the investment into Solyandra was a mistake of grotesque proportions; especially when discussing the $527 million President Obama dropped into that company of taxpayer monies. Well here is a little tip:
“It coincides with the fact that the industry is in trouble,” said Ken Zweibel, director of the Solar Institute at George Washington University. “There is a crisis in the solar manufacturing world there’s no question about it. With three companies declaring bankruptcy in three weeks, there’s no question that they’re all under pressure.”
Solyndra’s bankruptcy also comes as Congress battles over spending and the best way to create jobs. Solyndra had received $527 million in federal loans authorized by a program in the 2009 stimulus act. Many in the GOP say that President Obama’s bid to create “green jobs” has been a failure. That could make it hard for solar to fight for any new federal help.
Solyndra had some unique problems, analysts said, that helped accelerate its demise. The company made a unique product: cylindrical solar tubes equipped with copper indium gallium diselenide thin-film technology. (Has
this concoction been tested?)
The cylinders could “capture sunlight across a 360-degree photovoltaic surface,” Solyndra said on its website. Designed for commercial rooftops, the product offered “the fastest and easiest installation, a non-penetrating mounting system, and superior wind, snow and soiling performance,” Solyndra said. But the tubes also had limited uses, analysts say.
“It was a specialty product that could be used in certain applications, that would be very attractive for those applications, but wouldn’t be generally useful for large fields or even [all] rooftops,” Zweibel said. “They have misunderstood the marketplace.”
Furthermore, let’s look at the price of gold….what’s being done about natural gas? Natural gas normally sits atop of oil going through its geometric process. So what is wrong with digging a little deeper?
We believe that President Obama is trying to change what has taken hundreds or thousands of years to discover, test, find uses for and manufacturing – and change those things at issue within a day or two, or a year or two? Hogwash! We also believe that there must be an available source of energy to contra the stoppage of use before moving ahead. Please think about it.