Another obama green energy failure

Discussion in 'Energy' started by Katzndogz, Oct 26, 2012.

  1. Katzndogz
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    Katzndogz Diamond Member

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    Harsanyi: Is this what Obama's glorious green-energy future looks like?

    It was one of Barack Obama’s favorite green-energy companies. And green-energy companies, according to the president, are one of the best ways to facilitate economic growth.

    Well, yesterday, The Denver Post detailed the criminal investigation of Abound Solar, a defunct solar-panel manufacturer in Colorado that was run on taxpayer “investments,” for securities fraud, consumer fraud and financial misrepresentation.

    Abound shuttered its Colorado plant during the summer and filed for bankruptcy, leaving “125 workers without jobs and taxpayers holding the bag for up to $60 million in defaulted loans
     
  2. syrenn
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    syrenn BANNED

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    Another one failed


    how many does this make now....i cant keep up!
     
  3. Caroljo
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    Caroljo Gold Member

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    Here's what i found....so far:

    Solar Trust of America: FAIL! - Filed Bankruptcy in Oakland, CA, April 3, 2012

    Bright Source: FAIL! - Bright Source warned Obama’s Energy Department officials in March 2011 that delays in approving a $1.6 billion U.S. loan guarantee would embarrass the White House and force the solar-energy company to close. Bright Source lost billions of dollars but is getting more money to keep trying. Can you say, “This isn’t working Mr. President?”

    Solyndra: FAIL! - Obama gave $500,000,000 (that’s a HALF BILLION!) in taxpayer money to Solyndra who shut its doors and laid off 1100 workers in August 2011 after billions in losses due to failure to make a solar product that works! Barack Obama was not vetted before being elected President and neither was Solyndra before Mr. Obama threw that taxpayer money down the drain of unproven technology.

    LSP Energy: FAIL! - LSPEnergy LP filed bankruptcy protection and a sale of its assets in Feb 2012

    Energy Conversion Devices: FAIL! – On February 14, 2012 Energy Conversion Devices, Inc. and its subsidiaries filed for bankruptcy

    Abound Solar: FAIL! - Abound Solar received a $400 million loan guarantee from Barack Obama then announced in June, 2012 that it would file for bankruptcy. Many of these failed corporations, such as Abound, donated MILLIONS and continue to donate to Barack Obama’s campaign. Can you say, “Democrat Slush Fund”? Yes this is illegal. But Democrats are being protected from being prosecuted, for now.

    SunPower: FAIL! - SunPower stopped producing solar cells in 2011 at near bankruptcy then restructured with the help of, get this, oil giant TOTAL, Inc. who owns 60% stake in SunPower. Irony? The company is still struggling.

    Beacon Power: FAIL! – Beacon Power Corp filed for bankruptcy protection in October, 2011 just a year after Obama approved a $43 million Government loan guarantee. They remain barely in business, still struggling to make energy that makes sense or that works at all.

    Ecotality: FAIL! - ECOtality, a San Francisco green-tech company that never earned any money and remains on the verge of bankruptcy after receiving roughly $115 million in two loan guarantees from President Obama, who wants to do some more of this kind of Democrat Slush Fund Guarantees after he is elected to a 2nd term.

    A123 Solar: FAIL! - A123 Solar received $279 million from taxpayers thanks to President Obama’s Department of Energy loan guarantees even after the Solyndra bankruptcy and is getting another $500M from Obama after a loss of $400M.

    UniSolar: FAIL! - Uni-Solar filed for Ch 11 bankruptcy in June 20, 2012 after laying off hundreds of workers. UniSolar received even more Obama money after showing now progress, no profits and is still failing… yet they still remain in business with Obama’s help.

    Azure Dynamics: FAIL! - Azure Dynamics filed for bankruptcy in June , 2012 wasting millions in Obama “Stimulus” money and received abatement on taxes owed and and several tax credits. Azure Dynamics LLC filed for bankruptcy protection in Canada and the US. Azure laid off 120 of its 160 employees in Oak Park; Boston; Vancouver, British Columbia; and the UK.

    Evergreen Solar: FAIL! - Evergreen Solar received $527 Million in Taxpayer money from Obama and filed bankruptcy in late 2011. Evergreen, which closed its taxpayer-supported Devens factory in March, 2011 cut more than 1800 jobs. Evergreen’s $450 million factory, turned out to be a colossal “waste” of taxpayer money.

    Ener1: FAIL! Ener1 Inc. received a $118 million U.S. Energy Department grant from President Obama to make electric-car batteries but filed for bankruptcy protection January 2012 after defaulting on bond debt.

    List of Failed Obama Green Energy & Solar Companies in the Billions
     
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  4. Katzndogz
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    Katzndogz Diamond Member

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  5. eflatminor
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    eflatminor Classical Liberal

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    Central planners attempting to pick and choose winners and losers in what is supposed to be a free market. It NEVER works in the long run.
     
  6. TruthSeeker56
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    TruthSeeker56 Silver Member

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    Why would Obama care? It wasn't HIS money that was invested in these "green energy" scams.
     
  7. daveman
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    daveman Diamond Member

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    It works half the time:

    They always pick the losers.
     
  8. daveman
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    daveman Diamond Member

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    Didn't you know the purpose of the US Treasury is to repay party donors and Obama supporters and Dem special interest groups?

    The Constitutional Scholar-in-Chief has decreed it. So mote it be.
     
  9. TruthSeeker56
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    TruthSeeker56 Silver Member

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    Even a broken clock is right, twice a day. :cool:
     
  10. skye
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    skye Platinum Member Supporting Member

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    Obama must think money grows on trees! trillions of American tax dollars wasted .... Please DO NOT VOTE FOR HIM!
     

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