Another Taxpayer-Backed Green Energy Company Goes Bankrupt
31st March 2016
Another subsidy-backed green energy company, this time the Spanish company Abengoa, has filed for bankruptcy within the United States. But before doing so, squandered over $2 billion in federal funds. The company mistakenly gambled on a government-backed artificial “green energy boom” they hoped would spurn new growth and opportunity for the company.
The Obama Administration, ever pushing their green energy ideology, tampered with the market by dolling out $2.7 billion worth of federal subsidies to Abengoa, which of course was taxpayer funded.