EDITORIAL: The solar swindle

The O Force has been running up America’s credit card by doling out cash to energy firms claiming to be green. Bosses at solar panel manufacturer Solyndra are busy taking the Fifth, and Obama administration officials are pleading ignorance over how an unsustainable enterprise was able to bag $535 million in taxpayer loot. In the coming days, Congress is likely to get to the bottom of exactly who knew what and when. There’s more to come with this scandal, but for now, one conclusion is clear already: You can’t outsmart the market. At the outset of his presidency, Barack Obama thought he could do just that. His agenda was designed to drive up the cost of efficient, carbon-based energy to match the price of expensive power wearing the trendy “renewable” label. The rationale: When artificially inflated prices for oil, natural gas and coal begin to bleed consumers dry, they’ll have no choice but to turn to politically correct forms of energy like sunlight, wind and biofuels. The “greenhouse gas” menace would end, according to liberal belief, purported global warming would be remedied, and we finally would “get ourselves back to the Garden,” as the iconic Woodstock-era song urged. The administration has spent nearly three years blocking access to America’s abundant carbon-based energy resources and throwing cash at “green” manufacturers. In effect, it has been an attempt to ruin a proven market and replace it with a government-approved one...more