Interesting story that showed up on USA Today (click) about how Sen. Hatch, who has joined the chorus of critics of the Obama administration for helping channel funds to a california solar energy company.
It’s an outrageous waste of tax dollars, he and others are saying, but as the story makes clear, Sen. Hatch has done his own share of channeling funds to green energy companies, in this case a Utah geothermal business.
What makes me sad is that these guys are ripping Obama for the failure of the solar company, while dodging blame on their own record, but here’s the thing: Why should there be any blame at all?
In the real world, some investments work, some don’t. Mitt Romney, who has worked as a venture capitalist, ought to know this. If Sen. Hatch had any real-world experience he might as well.
Only in the world of politics must every venture succeed. If Hatch were willing to cut Obama slack, I’d cut him some.
Oh, and check out how the story catches Hatch in an obvious lie, or at least being screamingly unclear: A Hatch spokesman says the Utah company is different because Hatch wasn’t channeling federal funds and Obama was, but …
Raser was eventually awarded a $33 million Treasury Department grant in 2010 for construction of the plant. The company also unsuccessfully applied for money through at least three different Department of Energy loan guarantee programs, according to an SEC filing.
So what’s good for the goose is good for the gander. If Obama can be criticized, so can Orrin, but the sad part is that criticism of speculative projects like this, not to mention it being part of presidential politics, means any real progress on alternative energy will have to wait until 2013, or something.