SunPower In the Shade (SPWRA, WFR, FSLR, LDK) - 24/7 Wall Street

One of the stalwarts of the solar business, SunPower Corporation (NASDAQ:SPWRA) has reported a diluted EPS loss of -$0.06 on revenues of $214 million for the 2009 first quarter. Analysts had expected EPS of $0.24 and revenue of $269 million. Even the low estimate on EPS was higher than SunPower’s earnings.

The Left Still Does Not Understand Where Wealth Comes From » The Foundry

Follow the logic there? The Center for American Progress equates the $442.9 billion in revenue the Exxon Mobil created in 2008 with the “revenue” that a cap and trade program would generate. They simply cannot grasp the fact that cap and trade does not create any new wealth!!! The only “revenue” it generates, must come by taxing existing wealth creating entities like Exxon Mobil who, by the way, already paid pre-cap and trade taxes totaling $116.2 in 2008.

This is not the first time the Center for American Progress has conflated tax revenues and wealth creation. Last year during the Lieberman-Warner cap and trade debate, CAP produced a study purporting to show that “an economy-wide cap-and-trade program would generate at least $50 billion per year” in “profits” for the American people. Yes, they actually called tax revenues “profits”.

Strassel: Global Warming Overreach - WSJ.com

The real risk to the president is that his bill goes down at the hands of his own party -- with nary a Republican to blame. Whether Mrs. Pelosi and Mr. Waxman considered this as they crafted their gem is unclear. But the overreach has made it a possibility now.