The Department of Energy snookered the media last week with a report that seems to show that its clean energy lending programs are profitable. “ Remember Solyndra? Those loans are making money ,” went a typical headline. Unfortunately, that’s not true. Taxpayers are losing money on DOE lending.
A wonderfully-titled new paper —The Tragedy of the Carrots—by Boston College law professor Brian Galle got me thinking about Solyndra, the failed solar panel company that has become something of a poster child for botched industrial policy. By now, you probably know Solyndra’s sad tale . The firm