November 3, 2011

Beacon - A Lead Balloon That Wouldn't Float

Ronald Bailey, Reason Online


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Yesterday, the Washington Post reported that Beacon Power, a company that received one of the first federal loan guarantees being shoveled out the door of the Department of Energy under the Obama administration, is now bankrupt. Beacon Power manufactured and operated large flywheels with the goal of storing excess power. Its bankruptcy leaves the taxpayers on the hook for about $40 million. What's delightfully ironic is that Beacon's CEO Bill...

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TAGGED: Obama administration, Solyndra, Government Loans, Flywheels, Beacon Power

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