“60 Minutes” Calls Cleantech a Bust

A recent “60 Minutes” segment essentially called the cleantech industry a failure, eliciting a flurry of criticisms defending the green technology sector. “Hoping to create innovation and jobs, [President Obama] committed north of $100 billion in loans, grants and tax breaks to cleantech. But instead of breakthroughs, the sector suffered a string of expensive tax-funded flops. Suddenly cleantech was a dirty word,” said “60 Minutes’” host, Lesley Stahl. One of the main criticisms against the CBS segment was that it conflated the cleantech venture capital sector of Silicon Valley with the Department of Energy’s loan guarantee program. The critics have… [more]