Green Jobs: Right Here in China
The president wants to make sure those wind turbines are manufactured here in China. Just like A123's batteries and Solyndra's solar panels.
Check out this column, as a green energy guy talks about how dumb it is to give government loan guarantees to green energy companies.
The problem is that the government is helping to pick the winners and losers and, well, even venture capitalists aren't that good at doing it sometimes. The government definitely isn't. Why should one company, like Solyndra, be deemed worthy of below-market loan rates while another company struggles to access capital? If this could be done efficiently, fairly, and most importantly, with a solid return, then it might be one of the tactics to bridge the gap between the incumbent trillion dollar fossil fuel industry which is heavily, heavily subsidized, and the budding, better, and less well capitalized challenger (solar). Unfortunately, it can't, so it's not.