Obama's Epic Green Fail (Congress, Brown, Barack Hussein Obama, lobbyists)

[softblueyz]

Where did all that government taxpayer money earmarked for green energy go? Can we expect four more years of this kind of "spending"? This is exactly what Obama and the media do not want you to know.

Read more: Articles: Obama's Epic Green Fail

As we get into the campaign season (has Obama ever left it?), some recollections of what President Barack Hussein Obama said and has done (courtesy of Peter Schweizer and Ashe Schow) are both humorous and instructive. Humorous because you have to laugh at what Obama has said and done to keep from crying. Instructive because this is what we can expect from Obama (and more) if he gets re-elected.
Peter Schweizer, in his book Throw Them All Out, told us that Obama said that taxpayer money would not be doled out to political friends. "Decisions about how Recovery Act dollars are spent will be based on the merit," Obama said, referring to the 2009 stimulus. "Let me repeat that: decisions about how recovery money will be spent will be based on the merits. They will not be made as a way of doing favors for lobbyists."

Anyway, Obama was emphatic about how recovery money was to be spent. But...as Schweizer says, the 1705 Loan Guarantee Program and the 1603 Grant Program funneled billions of dollars to alternative-fuel and green-power companies. The loan guarantees and grants were earmarked for green energy projects, so it is not surprising to learn that these companies were run by liberals. And guess what! Eighty percent of the Department of Energy (DOE)'s green loans, loan guarantees, and grants went to Obama backers

Schweizer wrote, "... a large proportion of the winners [companies receiving loans, loan guarantees, and grants] were companies with Obama-campaign connections. At least 10 members of Obama's finance committee and more than a dozen of his campaign bundlers were big winners in getting your money. At the same time, several politicians who supported Obama managed to strike gold by launching alternative-energy companies and obtaining grants." How much? Schweizer continues, "In the 1705 government-backed-loan program, $16.4 billion of the $20.5 billion in loans granted as of September 15 [2011] went to companies either run by or primarily owned by Obama financial backers

Schweizer further wrote, "The Government Accountability Office (GAO) has been highly critical of the way guaranteed loans and grants were doled out by the DOE, complaining that the process appears 'arbitrary' and lacks transparency. In March 2011, for example, the GAO examined the first 18 loans that were approved and found that none were properly documented.


So with all that in mind, let's turn our attention to what has actually happened since Obama took office.

• SunPower, after receiving $1.5 billion from DOE, is reorganizing, cutting jobs.

• First Solar, after receiving $1.46 billion from DOE, is reorganizing, cutting jobs.

• Solyndra, after receiving $535 million from DOE, filed for bankruptcy protection.

• Ener1, after receiving $118.5 million from DOE, filed for bankruptcy protection.

• Evergreen Solar, after receiving millions of dollars from the state of Massachusetts, filed for bankruptcy protection.

• SpectraWatt, backed by Intel and Goldman Sachs, filed for bankruptcy protection.

• Beacon Power, after receiving $43 million from DOE, filed for bankruptcy protection.

• Abound Solar, after receiving $400 million from DOE, filed for bankruptcy protection.

• Amonix, after receiving $5.9 million from DOE, filed for bankruptcy protection.

• Babcock & Brown (an Australian company), after receiving $178 million from DOE, filed for bankruptcy protection.

• A123 Systems, after receiving $279 million from DOE, shipped some bad batteries and is barely operating. It cut jobs.

• Solar Trust for America, after receiving a $2.1-billion loan guarantee from DOE, filed for bankruptcy protection.

• Nevada Geothermal, after receiving $98.5 million from DOE, warns of potential defaults in new SEC filings.

And that's a partial list. Can Obama and the DOE pick 'em, or what? And all those bankruptcies have an effect on green jobs that Obama promised.

[D. Scott]

Originally Posted by softblueyz

Where did all that government taxpayer money earmarked for green energy go? Can we expect four more years of this kind of "spending"? This is exactly what Obama and the media do not want you to know.

Read more: Articles: Obama's Epic Green Fail

Epic monetary fail here that could have been used to fund actual programs that help people. Many cases like this over the years regardless. This "green" program sure wasted a lot of green, That's for sure.

[Taratova]

Obama shoving his green agenda on the people. I don't see the democrats supporting this.. they didn't buy any solar panels from Solyndra.. put your money where your mouth and your vote is democrats!!