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With the Solyndra, First Solar, Sunpower, Fisker, and related Obama administration Department of Energy scandals, President Obama is following a trail blazed by Vice President Al Gore in the mid-1990s. Similar scandals — failed (or failing) green technology companies intertwined with Democratic Party fundraising – will continue to arise until we understand their genesis.
Doubtless there are sincere entrepreneurs and enthusiasts in the green technology industry. Nonetheless, I suspect that these green ventures fail so frequently because their political backers have about as much stake in their success as did Bialystock and Bloom in the success of Springtime for Hitler. Perhaps these ill-starred ventures appear so often with substantial DOE funding precisely because they are successful in their primary surreptitious purpose of providing a Wall Street “pump and dump” vehicle for channeling cash to Democratic Party insiders.