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Taxpayer Funding For ‘Green Energy’ Has Been A Financial Dumpster Fire

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08.11.2018

It’s been a busy few months for financial regulators and law enforcement, particularly in industries saturated with spectacular and spurious claims. No industry is more spurious than taxpayer-subsidized “green energy.”

In August, Tesla co-founder Elon Musk incurred the wrath of the Securities and Exchange Commission when he implied that a deal was secured for Tesla to go private (in reality, any deal “was uncertain and subject to multiple contingencies”). Now that the SEC turmoil has come to an end, the FBI is examining whether the company misled investors about production targets for the all-electric Model 3 sedan.

Tesla produced just 2,700 Model 3s in 2017, a far cry from the 5,000 to 20,000 Model 3s per month promised to investors. This is only the tip of the iceberg. “Renewable” companies seem to disproportionately fall afoul of the law time and time again.

Restrictions against fraudulent claims made to shareholders and consumers are central to a free and unfettered marketplace. It should go without saying that without protections against fraud, our economy would crumble. But equally important, if not more so, is the integrity of claims made to the government to receive taxpayer........

© The Federalist