Status update

Supporting innovation means supporting failure. #li

I do believe the federal government should support innovation, but by investing in education instead of companies. The failure rate is always going to attract bad press. 

Brookings: Why the U.S. Should Not Abandon Its Clean Energy Lending Programs, 2011-Sep-27, by Muro and Rothwell

To be sure, there are problems here, but one of them is that each of these attacks fundamentally misunderstands the nature of an imperfect but invaluable clean energy finance program. Such misunderstanding is unfortunate; it undercuts support for exactly the kind of prudent, targeted approach the United States should be using to scale up important new industries by deploying the nation’s sophisticated financial markets in ways that minimize taxpayer risk and maximize economic impact.

The reality is the DOE’s loan guarantee program will likely result in minimal costs and large gains for taxpayers—just like many other federal lending efforts.