January 31st, 2012
In the future, White House speechwriters might want to check the financial statuses of the businesses the president plans to tout as clean-energy success stories. In his 2010 State of the Union address, President Obama praised Solyndra as a “true engine of economic growth.” Not long after, the solar panel maker went belly up. In his most recent State of the Union address, the president extolled the success of subsidies for manufacturers of electric car batteries. Two days later, battery maker Ener1 filed for Chapter 11 bankruptcy protection. (more)
