The Spanish Solar Crisis -- Actions Have Consequences -- Absolutely Nothing To Do With The Bakken

Tomorrow we are going to start hearing that the Greek banking run has moved to Spain. Some time ago there were stories that Spain got into financial trouble because of its bet on solar energy. My hunch is this: that little inconvenient truth won't be mentioned even once on CNBC tomorrow in the discussion on Spain. 

Three solar dots to connect:

1. This week the US places heavy tariffs on solar panels coming from China -- week of May 17, 2012
2. Banking crisis in Spain rocks Europe -- Thursday, May 17, 2012 (today)
3. Flashback: bankrupt Spanish solar program -- 2010 -- to what extent is this related to the Spanish banking crisis? The failed solar program cost the Spanish government a whopping 126 billion Euros....

From the Spanish solar program linked article, the second linked article:

Spain stands as a lesson to other aspiring green-energy nations, including China and the U.S., by showing how difficult it is to build an alternative energy industry even with billions of euros in subsidies, ....

“The government totally overshot with the tariff,” de la Sota says. “Now they have a huge bill to pay --

U.S. President Barack Obama highlighted solar energy as part of his plan to create green jobs this month with a decision to install photovoltaic panels on the roof of the White House....

From the same linked article:

Power from the most-efficient photovoltaic plants costs utilities about $275 per megawatt-hour to produce compared with about $60 for a coal-fired plant, according to Bloomberg.