Have you ever seen a $50 light bulb?
Here’s your chance! Just feast your eyes on this award-winning super-duper LED!
Are you impressed?
Silly you. Silly me.
But Obama’s Energy Department is so gosh-darned impressed that it awarded Philips Corp., the manufacturer of the $50 60-watt LED, $10 million of taxpayers’ hard-earned dollars as an “L Prize” for an environmentally sensitive bulb that is “affordable for American families”!
As a Washington Times editorial points out, although the new LED is more energy-efficient than standard incandescent bulbs and may last up to 10 years, but given that it costs 50 times the price of the typical old-style bulb, this eats up any long-term savings.
The Energy Department defends the bulb’s exorbitant price, claiming costs are expected to fall over time. However, the original contest guidelines projected a retail price less than half of the $50 that the bulb is sold at retail. More curious still is the fact that there are already much less expensive LED bulbs available, but these did not receive the Obama administration’s seal of approval.
It’s all about quid pro quo, more commonly known as “I’ll scratch your back, and you’ll scratch mine.” Ten to one we’ll find out at some future date that, like solar-panel maker Solyndra, Philips’ CEO is also a big Obama supporter.
Solyndra’s execs and board members were big donors to Obama and the Democratic Party and — SURPRISE! — Solyndra was favored with $535 million in federal loan guarantees. Alas, taxpayers will never see any of the $535 million loan repaid because Solyndra had gone belly up bankrupt.
Meanwhile, King Obama tells the American people who face steeply rising prices at the gas pump:
eat cake buy the affordable $50 light bulb!”