Clean energy poster child SunEdison files for bankruptcy


Business | 207863 hits | Apr 23 12:17 am | Posted by: N_Fiddledog
12 Comment

SunEdison, a solar and wind power company, filed for bankruptcy on Thursday due to a cash crunch caused by taking on too much debt.

Comments

  1. by avatar N_Fiddledog
    Sat Apr 23, 2016 7:27 am
    Here's an editorialized version of the story from Townhall.com:

    Happy Earth Day: Company Once Considered 'Poster Child' Of Clean Energy Files For Bankruptcy

    "It's one thing when government decides to run your business into the ground thanks to the endless red tape, which is what President Obama is doing with coal. It's another thing to go under because Americans simply want affordable energy, carbon emission be damned (and rightfully so), and don't want to pay a lot of money. I know, how rational of them. SunEdison was once a $10 billion giant in the clean energy business. It has now filed for Chapter 11 protections, while also showing that clean energy isn't the future. It's only a great way to burn a lot of other people's money"

    More at link.

    http://townhall.com/tipsheet/mattvespa/ ... y-n2152399

  2. by avatar sandorski
    Sat Apr 23, 2016 10:20 pm
    Not clicking the BS link.

    This company tried to expand too fast. Classic error on their part.

  3. by avatar N_Fiddledog
    Sun Apr 24, 2016 6:44 am
    Yes, fossil fuels are more efficient and cheaper. And yes, America has centuries of energy from coal, oil, and natural gas. In fact, coal and natural gas constitute 66 percent of our energy generation. These are the very sectors that power our economy. To reduce their output, would only lead to fewer jobs, more expensive electricity bills, and the slowing of our economy. According to estimates, we currently have enough coal for 460 years of energy, natural gas for 120 years, and oil for 200 years. In fact, due to technological advances, oil isn’t going to run out out either. Concerning similar advancements, Energy for America estimated that we could have enough energy from coal for an additional 9,800 years, 580 years for natural gas, and 530 years for oil. So, tell me why are we indulging in this rather embarrassing clean energy venture that will never get off the ground thanks to Solyndra? I have no clue.

  4. by avatar DrCaleb
    Mon Apr 25, 2016 12:47 pm
    The largest U.S. coal company just filed for bankruptcy

    Arch Coal Files for Bankruptcy (Second largest US coal company)

  5. by avatar bootlegga
    Mon Apr 25, 2016 1:06 pm
    "N_Fiddledog" said
    Yes, fossil fuels are more efficient and cheaper. And yes, America has centuries of energy from coal, oil, and natural gas. In fact, coal and natural gas constitute 66 percent of our energy generation. These are the very sectors that power our economy. To reduce their output, would only lead to fewer jobs, more expensive electricity bills, and the slowing of our economy. According to estimates, we currently have enough coal for 460 years of energy, natural gas for 120 years, and oil for 200 years. In fact, due to technological advances, oil isn’t going to run out out either. Concerning similar advancements, Energy for America estimated that we could have enough energy from coal for an additional 9,800 years, 580 years for natural gas, and 530 years for oil. So, tell me why are we indulging in this rather embarrassing clean energy venture that will never get off the ground thanks to Solyndra? I have no clue.


    Yes, the US may have enough oil to last a long time, however they don't have the capability to produce all of the 19 million barrels that the US uses every day.

    In fact, they only produce a little more than half of that.

    http://www.nacsonline.com/YourBusiness/ ... tions.aspx

    And something tells me that currently there is little financial incentive to invest the tens of billions necessary to develop that infrastructure.

  6. by avatar andyt
    Mon Apr 25, 2016 1:47 pm
    "DrCaleb" said
    The largest U.S. coal company just filed for bankruptcy

    Arch Coal Files for Bankruptcy (Second largest US coal company)


    That's only because of the red tape and the warmist cornspiracy in govt.

  7. by avatar DrCaleb
    Mon Apr 25, 2016 1:58 pm
    "andyt" said
    The largest U.S. coal company just filed for bankruptcy

    Arch Coal Files for Bankruptcy (Second largest US coal company)


    That's only because of the red tape and the warmist cornspiracy in govt.

    It's funny, because in their bankruptcy filings they reveal how much they have donated, and sometimes entirely bankrolled, to groups in the global warming denial camps.

  8. by avatar andyt
    Mon Apr 25, 2016 2:01 pm
    Well, gotta get the truth out there somehow. Think of all the money the warmist cornspirators are getting, what this company donated is just a pittance. In fact the whole carbon industry gives very little money to the brave warriors countering the warmist lies. Drop in the bucket.

  9. by avatar N_Fiddledog
    Mon Apr 25, 2016 4:22 pm
    "DrCaleb" said
    The largest U.S. coal company just filed for bankruptcy

    Arch Coal Files for Bankruptcy (Second largest US coal company)


    Yes, and the reasons given were over-regulation from the Obama administration, market decrease due to economic problems in China, and competition from oil.

    So the only one that might apply to the solar and wind bankruptcies is oil competition.

    Very well. What's your point?

  10. by avatar N_Fiddledog
    Mon Apr 25, 2016 4:33 pm
    "bootlegga" said

    Yes, the US may have enough oil to last a long time, however they don't have the capability to produce all of the 19 million barrels that the US uses every day.

    In fact, they only produce a little more than half of that.

    http://www.nacsonline.com/YourBusiness/ ... tions.aspx

    And something tells me that currently there is little financial incentive to invest the tens of billions necessary to develop that infrastructure.


    I think the point was there are enough American fossil fuel reserves to last at least more than half a millennium.

  11. by avatar DrCaleb
    Tue Apr 26, 2016 11:58 am
    "N_Fiddledog" said

    Very well. What's your point?


    My point being, coal had it's day. It was a good run, but now people want something better. Cleaner. Something with fewer long term consequences. Something with a future.

    http://electrek.co/2016/04/25/tesla-sol ... y-storage/

    http://fortune.com/2016/02/16/solarcity ... es-hawaii/

  12. by avatar herbie
    Tue Apr 26, 2016 5:28 pm
    As opposed to "The asteroid isn't going to hit us for another 500 years so we should wait until it's commercially viable to do something about it?"



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