In his first debate against US President Barack Obama, Massachusetts Governor Mitt Romney declared, “I like coal,” and proceeded to criticize his opponent for investments in green energy.
While some say Romney’s statement on coal disingenuous, so too is his claim that half the companies funded by Obama’s 90 billion dollar energy program’s have, “gone out of business.”
The Washington Post has done a thorough job of setting the record straight on the successes and failures in green energy since Obama took office. For example, the 90 billion dollars sited by Romney was not just directed in clean-energy companies, but also in job training, improving energy efficiency, high-speed rail and research into carbon-capture technology for coal plants.
The Obama administration did provide 16.1 billion dollars in funding to clean energy companies. Of the 33 companies funded only 3 have declared bankruptcy - Solyndra, Abound Solar, and Beacon Power.
Efforts to create a new battery industry in the United States, and the construction of high speed rail lines are currently struggling, but, says the Post, could yield success if various conditions change.
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