Wednesday, April 24, 2013

Three Thoughts on the Fisker Debacle

Three Thoughts on the Fisker Debacle: On April 24, executives from the grievously wounded plug-in-hybrid firm Fisker Automotive will face a House of Representatives oversight committee. The question of the day: Why did the Department of Energy loan nearly $200 million to a company that is now facing bankruptcy? (Secondary purpose: to allow grandstanding congressmen to repeat, as many times as possible, the phrase "Solyndra on Wheels.")I was on the showroom floor at the 2008 Detroit auto show when Fisker pulled the cloth off the concept version of its Karma sedan. I'm a strong supporter of government funding for clean energy research and deployment. Yet for years, I've wondered why anyone, public or private, would put money into Fisker Automotive. Maybe tomorrow's hearing will help us understand the Department of Energy's motivation. More likely, it'll simply yield a lot of demagoguing. Either way, we'll have a reporter on the scene to find out, so check this space. In the meantime, three quick thoughts about the Fisker drama: [More]