"Fox Pundits Inanely Blame Overregulation for Solyndra Demise"
Okay, we knew that the “reporting” about the bankruptcy of the solar company Solyndra would be bad. But this punditry from Fox News is just atrocious. (Should we expect anything different?)
If you hadn’t heard by now, Solyndra is a California-based solar manufacturer that received a $535 million loan guarantee from the federal government. Since the company announced on Wednesday that it was filing for bankruptcy, conservative politicians and press have been celebrating the tragedy and have used it to attack clean energy broadly.
In a statement, Solyndra officials pointed to the extremely competitive market conditions as the reason for the bankruptcy. They also partly blamed “regulatory and policy uncertainties” — meaning the lack of long-term support in the U.S. and other markets around the world for clean energy.
Well, Fox’s “veteran” business reporter Stuart Varney took that to mean over-regulation and blamed the Obama Administration for regulating another company out of business.
In fact, it’s just the opposite: Most conservative politicians have fought a long-term tax credits and a clean energy standard — two fundamental policies to create consistent regulatory support — every step of the way
Expect more of this atrociously inaccurate spin throughout the political season in order to bring down clean energy.