November 16, 2016

If Elon Musk were in 'Atlas Shrugged'...

... he would be Oren Boyle.

It has been widely reported that among SolarCity, Tesla, and the rocket company SpaceX, Elon Musk's confederacy of interests has gotten at least $4.9 billion in taxpayer support over the past 10 years.

This is almost half of Musk's supposed net worth - taken from the pockets of American citizens and put into companies that can survive only by cannibalizing each other, spending without end, and promising that success is always just beyond the horizon and yet never arrives.

The American people are being taken on a ride by SolarCity, Tesla, and Musk. The ride is fueled by a cult of personality in Musk. And it costs billions of taxpayer dollars as he promises us not only the moon, but to harness the power of the sun and send us all to Mars.

In the cases of Enron and Bernie Madoff, in the end the cheated victims wished to have woken up sooner to the hubris that enabled such a downfall - or that at least regulators had pulled their heads out of the sand before the full impact of the collapse was realized.

We've seen this story before and we know how it ends.

But one of the good things about changing regimes in Washington D.C. is that cronies often get uprooted.

The Senate Finance Committee and the House Ways and Means Committee have launched a probe into tax incentives paid to solar companies, according to The Wall Street Journal. The committee probes, led by their respective Republican chairmen, Rep. Kevin Brady of Texas and Sen. Orrin Hatch of Utah, have found an appropriate and disturbing target to begin this work.

SolarCity, a solar installation company set to be purchased by Tesla Motors Inc., is one of the seven companies named in the initial investigation.

'Atlas Shrugged' QOTD Deleterious Anthropogenic Warming of the Globe Don't Demand the Unearned Magical Unicorn Farts Oil and Energy Posted by JohnGalt at November 16, 2016 2:50 PM
| What do you think? [0]