Obama and BrightSource

http://www.futureofcapitalism.com/2010/10/obama-and-brightsource

In his weekly address, President Obama touted a solar energy company "made possible by the clean energy incentives we have launched":

I want share with you one new development, made possible by the clean energy incentives we have launched. This month, in the Mojave Desert, a company called BrightSource plans to break ground on a revolutionary new type of solar power plant. It's going to put about a thousand people to work building a state-of-the-art facility. And when it's complete, it will turn sunlight into the energy that will power up to 140,000 homes – the largest such plant in the world. Not in China. Not in India. But in California.

The Brightsource Energy Web site lists the company's investors, including Chevron, BP, and Morgan Stanley. Sometimes it's hard to follow this president. Half the time he's telling us that Morgan Stanley are Wall Street "fat cats" who don't deserve tax cuts and that BP is responsible for the worst man-made environmental disaster in American history; then he turns around and tells us that the rest of us taxpayers ought to be subsidizing some investment that BP and Morgan Stanley have made in some solar energy company. If this solar energy is such a great idea, can't BP, Chevron, Morgan Stanley, and the other investors find a way to make it a success without help from the taxpayers?

by Ira Stoll  |  Oct 2, 2010 at 11:37 pm Related Topics:  Energy, President Obama, Reverse Robin-Hood receive the latest by email: subscribe to the free futureofcapitalism.com mailing list