An American company has made an advance in battery technology that would allow it's cells to work in extremely cold or very hot climactic conditions. A123 systems would be able to do that without installing the expensive heating and cooling mechanisms which add to a battery's price.
A123 is in financial trouble and couldn't expect financial help from Congress, but it has been saved by a Chinese company.
Wanxiang Group offered a $450 million assist to keep the company afloat. It will eventually own 80% of the company
The Obama administration, in an attempt to promote green technology, earlier gave the company a federal grant of $249 million.
Over the years federal money has helped provide for basic research, research that made our country an economic powerhouse.
Now we throw away our future and let the Chinese walk away with it.
Here's what a spokeswoman for the Republican national committee told the Wall Street Journal, "it is unfortunate Obama borrowed from the Chinese to give taxpayer money to prop up green energy companies the Chinese are now buying."
This individual, most assuredly an experienced scientist, doesn't understand that the Chinese command economy is pouring enormous amounts of money into developing and buying clean energy companies.Since the Chinese government owns a lot of these companies they can operate at a loss until they have a breakthrough that produces a positive balance sheet.
We used to invest in our future. We got more than "Tang" out of the space program.
The National Science Foundation and National Institutes of Health over the years have paid for basic research that made America great.
Now the Chinese are investing in the future while we walk into the American Sunset. I sure hope the Chinese will sell us a nice battery driven car so we can forget about the Middle East and have peace during those sunset years.