Gambling with taxpayer cash: Another green stimulus flop

South Las Vegas Boulevard last month

Among the reasons I'm confident that President Obama will be defeated this fall is that I expect a steady procession of green firms that benefited from the $862 billion stimulus to experience serious setbacks. Something along the lines of Amonix, which delivered the third bit of green bad news in just a week.

From the Las Vegas Sun:

Gust seven months after California-based solar power company Amonix Inc. opened its largest manufacturing plant, in North Las Vegas, the company's contractor has laid off nearly two-thirds of its workforce.

Flextronics Industrial, the Singapore solar panel manufacturer that partnered with Amonix to staff the new $18 million, 214,000-square-foot plant, laid off about 200 of its 300-plus employees Tuesday.

More...

Amonix received a $5.9 million investment tax credit through the American Reinvestment and Recovery Act in 2010, and another $12 million in private capital helped finance the plant.

Meanwhile the White House is blocking the construction of the Keystone XL pipeline.

Crazy.

Technorati tags: government energy keystone xl news current affairs Democrats politics economy jobs Barack Obama Obama green environment