Today's Press Conference had its moments ...
First President Obama addressed the Loan Guarantee backing the solar company Solyndra, which recently folded. Solyndra, also the GOP's latest 'straw man' for their outrage.
Quotes From Obama's Press Conference
by National Journal staff -- October 6, 2011
On Solyndra and White House loan guarantees:
"This is a loan guarantee program that predates me that historically had support from Republicans and Democrats as well."
"The overall portfolio has been successful, it has allowed us to help companies … it’s helped to create jobs. There were going to be some companies that did not work out. Solyndra was one of them ... I have confidence that the decisions were made based on what would be good for the American economy and the American people and putting people back to work."
"There is a role to play for us to make sure that these companies can at least have a fighting shot. And it does mean that there are going to be some that aren’t successful and it’s going to be an uphill climb for some."
What is that stat for new startups? Something like 1 out of 5 new businesses eventually fail.
Hmmm ... must be why Congress created a Loan Guarantee program in the first place -- to encourage and backstop innovative companies?
Next, President Obama addressed the larger competitive context of China, India, and Europe 'eating our lunch' by subsidizing their own Clean Energy tech -- that the Future will have to turn to. They are proactively 'capturing the future'; we are playing catch-up -- kind of, sort of.
On American innovation and international competition:
"We’re going to have to keep on pushing to make sure that the manufacturing is located here, new businesses are located here, new technology is developed here."
"Part of what’s happening is that China, Europe, and others are putting enormous subsidies into these companies and giving them incentives to move offshore … and that’s part of the reason why a lot of the technology that’s developed here, we’ve lost the lead in."
"If we don't prepare now, if we don't invest now, if we don't get on top of technologies now, we are going to be facing 20 years from now, China and India having a billion new drivers on the road, the trend lines in terms of oil prices, coal, et cetera, going up … And we are not just going to be able to start when all heck is breaking loose and say boy, we better find new energy sources. In the meantime we have to make the investments."
"What is also true is that China has been very aggressive in gaming the trading system to its advantage and to the disadvantage of other countries, particularly the United States."
China and others, are "putting enormous subsidies into these [clean tech] companies" ...
And here in America, the once innovation leader of the world, what do we "subsidize"? The dinosaur industries of the past. ... by a huge margin:
ecoinsite.com
1bog.org: What if solar got the same Subsidies as Fossil Fuels ...
I don't know about you, but I think America needs to invest in 5 more Solar Companies -- for every one Solyndra, that fails. How else are we every to be a player in the new Energy Sector, that future generations, will have no other recourse, but to turn to.
Oil isn't getting any cheaper, the last time I checked. ... How much do Sunrays and Windgusts, cost again?
... NOW.
Be smart America, increase subsidizes for the Clean Energy companies of the Future, like the rest of the world, is already doing -- like there's 'no tomorrow' ... we need to invest in MORE companies like Solyndra -- not less.
Because you know ... sooner or later we need to kick the fossil fuel habit ... before it decides to 'kick us'.