Got a News Tip for NaturalNews? Send us your news tip, and we'll investigate!

As many as 50 Obama-backed green energy companies bankrupt or troubled

Posted: October 30, 2012 |   Comments

The October bankruptcy of solar company Satcon Technology Corp. puts the number of bankrupt or troubled green energy companies as high as 50, according to one estimate.

During the first presidential debate, Republican candidate Mitt Romney said the Obama administration had doled out $90 billion to green energy companies, half of which he said had failed, which sparked a media-wide debate over the accuracy of the claim.

The Romney campaign later clarified that he was talking about the DOE's 1705 loan program which doled out $16.1 billion to green energy companies, according to the Washington Post. Of the 33 companies that received 1705 loan guarantees, only three have declared bankruptcy.

Read more:

Have a Comment? Share it...

comments powered by Disqus