The defenders of clean green energy “investment” (which I put in scare quotes because when a liberal says “investment,” he means “taxpayer subsidy”) say we should look past Solyndra, A123, and other bankruptcies because it is normal for there to be failures in an infant industry. But the Washington Times reported last Thursday that the RENIXX index–the specialty index for renewable energy companies (it stands for the Renewable Energy Industrial Index)–has declined over 90 percent from its peak in 2007. See the figure below. Looks like Romney understated things when he said Obama “picks the losers.” Many investors have too.
The only truly “green” job is one in an industry that makes its green the old-fashioned way: through a real profit.