The Kiss of Death
Written by Brian Garst, Posted in Economics & the Economy, Energy and the Environment
Note to self: If you ever start an energy company, don’t take government funds and then let Obama talk about it in the State of the Union…
Andrew Restuccia of The Hill is reporting that Ener1, a battery company that President Obama referenced in his State of The Union Speech on Tuesday as an example of successful energy investments, has just filed for chapter 11 bankruptcy.
That’s just two days after the speech.
…In the 2010 State of the Union address, Obama mentioned Solyndra as another successful investment by the government in private-sector green-energy companies.
…It’s obviously hugely embarrassing for the president to give another green-energy company a shout-out in his prime-time speech only to have it declare bankruptcy two days later.
But worry not, because Obama is here to ensure the economy is “built to last.”
I serve as Vice President of the Center for Freedom and Prosperity, a non-profit think tank dedicated to preserving tax competition and free markets. This site features my personal views, which are not reflective of CF&P.