While the prez is extolling the virtues of "green energy", news is reporting yet another green energy company highly subsidized by tax dollars is filing for bankruptcy.

I am hoping we have some change left in a few more months...

From an AP article....

Blythe plant developer Solar Trust of America sought bankruptcy protection in a Delaware court on Monday because the Oakland firm was unable to meet a deadline for an Energy Department loan guarantee.

Solar Trust listed assets of up to $10 million and debts of up to $100 million. The company's two main assets are the Blythe project and a proposed 500-megawatt Palen solar project in Riverside County. The Palen project 10 miles east of Desert Center hasn't gotten Bureau of Land Management approval.

The company still maintains development rights to both projects.

Plans call for the Blythe solar project in Riverside County to partially stretch across 7,000 acres of public land in the lower Colorado River Valley with giant parabolic solar troughs, enough to power 300,000 homes.

And it could create 1,000 construction jobs in the city of 20,800 people.

Solar Trust is the latest failure in a solar industry shakeout that began last year when Northern California panel manufacturer Solyndra closed its doors, defaulting on a $535-million federal loan guarantee.

Like Solyndra, Solar Trust had received a $2.1-billion federal loan guarantee.

The Blythe project began unraveling two months after the June 17 groundbreaking.

In my little collection of short sayings and adages, there's one which reads:

"When it's not working, quit doing it."

<img src="/forums/images/graemlins/butwiggle.gif" alt="" />

I guess the few that have will take care of the many have-nots, thanks Prez! <img src="/forums/images/graemlins/shiner.gif" alt="" />

Yea big oil hasn't ever had any issues. <img src="/forums/images/graemlins/rolleyes.gif" alt="" />