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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on January 13, 2012, 07:19:09 PM
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Posted on January 13, 2012
CBS News: 11 More Solyndras In Obama Energy Program
CBS News' Sharyl Attkisson takes a look at 11 more Solyndras that were part of Obama's Energy program. Attkisson was one of the original reporters that uncovered the Solyndra scandal.
CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES' subsidiary Eastern Energy and Solyndra.
According to CBS News, Beacon Power, a "green energy storage company," recieved $43 million from the government. Standard and Poor's had given the project a rating of "CCC-plus."
http://www.realclearpolitics.com/video/2012/01/13/cbs_news_11_more_solyndras_in_obama_energy_program.html
incredible video at the site.
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Unbelievable. F U every obama supporter.
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http://video.foxbusiness.com/v/1394712968001/green-companies-going-belly-up/?playlist_id=87185
Unreal.
How can anyone keep supporting this garbage?
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Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!)
Global Warming.org ^ | JANUARY 27, 2012 | WILLIAM YEATMAN
Posted on January 29, 2012 3:41:03 AM EST by ApplegateRanch
Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.
I foresaw this spate of bad news last November. As I explained yesterday,
In a previous post, I compared renewable energy spending in the 2009 Stimulus to a green albatross burdening the President. I argued that Stimulus spending was inherently wasteful, because politics invariably corrupts government’s investment decisions. The result is taxpayers losses on bankrupt companies that existed only by the grace of political favoritism, a la Solyndra. I predicted the green stimulus would haunt the President, in the form of a slow drip public relations nightmare, as a litany of bad investments go belly-up in the run up to the 2012 elections.
Mr. President, are you still sure you want to “double down” on renewable energy giveaways?
TOPICS: Business/Economy; Crime/Corruption; Culture/Society; US: Nevada; Click to Add Topic
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Obama energy officials funded solar firms despite ‘junk bond’ ratings from S&P, Fitch
The Daily Caller ^ | 3/321/12 | Gene J. Koprowski
Posted on April 1, 2012 12:56:40 AM EDT by Nachum
The U.S. Department of Energy backed hundreds of millions of dollars in loans for discredited solar power start-ups whose corporate debt was already sullied with “junk” ratings by Standard & Poor’s and Fitch Ratings, two of the world’s leading credit agencies, a federal government investigation has shown.
Despite the finding, Energy Secretary Steven Chu vigorously defended the ethics of his agency in a hearing last week held by House Oversight Committee Chairman Rep. Darrell Issa.
Details are emerging this week about the Energy Department’s practices that indicate the agency spent a disproportionate amount of funding on these tainted solar power projects.
Congressional aides interviewed personnel at Fitch and S&P, and officials inside Obama’s Energy Department, as part of their investigation.
A company called Solopower was cited in a “dire” warning by S&P, which accurately forecast that the firm would “fail to meet its debt obligations.” Nonetheless, it received $170 million in federal funding guarantees, investigators told The Daily Caller.
(Excerpt) Read more at dailycaller.com ...