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The Obama administration at work:
The U.S. government last year announced a $10 million award, dubbed the “L Prize,” for any manufacturer that could create a “green” but affordable light bulb.
Energy Secretary Steven Chu said the prize would spur industry to offer the costly bulbs, known as LEDs, at prices “affordable for American families.” There was also a “Buy America” component. Portions of the bulb would have to be made in the United States.
Now the winning bulb is on the market.
The price is $50
That's great. The Obama admin spent ten million taxpayer dollars for a lightbulb that costs $50.
It gets better.
How the expensive bulb won a $10 million government prize meant to foster energy-efficient affordability is one of the curiosities that arise as the country undergoes a massive, mandated turnover from traditional incandescent lamps to more energy-efficient ones.
And I thought it was bad when the incandescent light bulb was banned during the Bush years in favor of that toxic compact fluourescent bulb. Now we're rewarding $50 light bulbs.
The $50 light bulb won the award even though it fell far short of the guidelines for the prize:
Still, the contest set price goals. According to the L Prize guidelines, manufacturers were “strongly encouraged to offer products at prices that prove cost-effective and attractive to buyers, and therefore more successful in the market.” The target retail price, including rebates from utilities, was to be $22 in the first year, $15 in the second year and $8 in the third year.
Fifty dollar lightbulbs, gasoline between $7-10 bucks per gallon, skyrocketing electricity costs, bankrupting coal plants, $41,000 electric cars, gigantic taxpayer sinkholes in Solyndra and the other failing green energy companies, the rejection of oil drilling when there is no substitute, endless trillion dollar+ deficits.....this must be how Barack Obama is "helping the little guy"...by bankrupting him.
On a related note, our illustrious President just called oil the "energy source of the past". As much as I hate to contradict our fearless leader, I urge him to look out the window of the White House and check out all the vehicles driving by. They are ALL powered by oil. That makes oil the energy source of the present, and as I pointed out in a recent post titled 'The Energy Killers', it's going to be an energy source for a long time to come. If only our President would start acting like it.
My only question is, how far down this insane rat-hole do we have to go before we wake up and get this guy out of office ???