Filed under: Capitalism, Democrat Corruption, Economy, Energy, Junk Science, News the Media Doesn't Want You to Hear | Tags: "Clean" Energy, And Other Fantasies, Green Jobs
Obama hasn’t a lot to brag about in the way of economic recovery, so he’s trying his best to distract from the economy and turn your attention elsewhere. There is the War on Women, elevated from a matter of taxpayers not feeling that it is necessary for them to pay for women’s birth-control pills ($9. a month or less) into a vast right-wing conspiracy depriving all women of voting age of all rights to everything. The Saga of Julia was just another attempt to make the ‘war’ more believable, but that didn’t work either. How about all his ‘investments’ in clean energy?
Can President Obama name one clean energy success? In an ad campaign from President Obama, a man claims his job was saved by President Obama’s meddling in the auto industry. The man works for Johnson Controls, a company that received $299 million in taxpayer-funded subsidies from the stimulus and promised to build two factories in the United States. They built one in this country and will build the other one in Hungary. They will also be laying off workers in coming months.
A Congressional hearing on May 16 exposed more Obama Cronyism. BrightSource Energy received an even bigger loan guarantee from DOE than Solyndra did. They received $1.6 billion in April last year. Their CEO claimed that the Ivanpah project would create 1,400 jobs, which would amount to $1,43 million per job. The BrightSource chairman was nominated to be Commerce Secretary, and the company has become known as “politically connected.”
First Solar received $1.46 billion in loan guarantees, but announced last month that it will lay off another 2,000 employees. On May 7, they reported lst quarter losses of 8 cents a share, a 12% revenue decline. They are expected to join Solyndra in bankruptcy soon.
Willard & Kelsey Solar Group has gone bankrupt, but claimed they only received money from Ohio taxpayers, but they actually got $6 million from Obama’s green energy loan program as well.
A123 Systems, an electric car battery maker who shipped faulty batteries to Fisker Automotive, has seen its stock fall to $1 and is filing for bankruptcy. They got $279 million from taxpayers
Solar Trust for America declared bankruptcy on Monday after receiving a conditional commitment of $2.3 billion in loan guarantees from the Dept. of Energy. Secretary Chu hailed it as “the largest amount ever offered to a solar project.” But they never got the money.
Abound Solar announced on 2/29/12 that they were laying off 280 workers, a 70% reduction in their workforce. They received 400 million from DOE’s loan program.
Ener1, a lithium-ion battery maker filed for bankruptcy. Ener1 owns EnerDel which received $118.5 million from Obama’s “green” energy stimulus plan.
Amonix, a solar company touted by President Obama in 2010 has laid off 200 of its 300 employees. They got $5.9 million.
These energy companies were supported by Obama’s energy stimulus, and are failing or have already filed for bankruptcy. There are lots more stories , and more will come out over time. It will probably be buried on the back pages of compliant media, who hope you won’t notice.
- Evergreen Solar
- Solyndra (received $535 million)
- Beacon Power (received $43 million)
- AES’ subsidiary Eastern Energy
- Nevada Geothermal (received $98.5 million)
- SunPower (received $1.5 billion)
- First Solar (received $1.46 billion)
- Babcock & Brown (an Australian company which received $178 million)
- Ener1 (subsidiary EnerDel received $118.5 million)
- Amonix (received 5.9 million)
- The National Renewable Energy Lab
- Fisker Automotive
- Abound Solar (received $400 million)
- Chevy Volt (taxpayers basically own GM)
- Solar Trust of America
- A123 Systems (received $279 million)
- Willard & Kelsey Solar Group (received $6 million)
- Johnson Controls (received $299 million)
There are also loans to foreign clean energy companies. It is estimated that 80% of these loans went to President Obama’s campaign donors. The President claims that he has created 2.7 million clean energy jobs. But it looks as if a remarkable number of those were considerably more temporary than expected.
ADDENDUM: More of Obama’s unfortunate “investments.”
- Raser Technologies ($33 million grant) bankrupt.
- ECOTotality $126.2 million for electric car chargers ($45 million in losses) insider trading investigation.
According to Peter Schweizer, 71% of Obama Energy Department grants and loans went to “individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democrat party. Collectively, they raised $457,834 for the Obama Campaign, and were in turn approved for grants or loans of nearly $11.35 Billion.” The Energy Department’s Inspector General has launched more than 100 criminal investigations” according to Politico, related to the department’s green energy programs.
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