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In a statement released today, President Obama said, "One of the fundamental challenges of our time is building an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules."
This is the same man that gave billions in taxpayer funding to Solyndra, Abound Solar, Energy Conversion Devices, BrightSource, LSP Energy, Evergreen Solar, Ener1, SunPower, Beacon Power, ECOtality, A123, Uni-Solar, Azure Dynamics, and Solar Trust. All of these "green energy" entities failed, yet Obama promised to bankrupt coal and natural gas powered power plants through taxes and regulations, as noted in a 2008 San Francisco Gate interview.
Obama promised to use the funding from these exorbitant taxes to "invest in solar, wind, biodiesel and other alternative energy approaches," and advised that under his "plan of a cap and trade system, electricity rates would necessarily skyrocket."
Obama wants to destroy tried and true industries and the jobs they provide to herd the masses into unreliable, impractical "green" industries that fail and cost jobs.
According to an editorial on Investor's Business Daily from 2010, Spain's failed attempt at a "green economy" cost 2.2 jobs for every 1 created.
Green Energy Debacle: Taxpayer Dollars Into Pockets of Obama Donors
President Obama and the rest of his Administration remain vigilant in their attempt to convince Americans that “green energy” and “green jobs” are real. The only reality seen in this Administration’s “green jobs” push is the consequence of Big Government intervening into the private markets.
Although these failed renewable energy companies—backed by OUR tax dollars—filed for bankruptcy, it wasn’t before they used the Department of Energy's (DOE) cash to fund six-figure bonuses.
As shocked as ABC seems by this story, I—along with other free enterprise advocates—hardly find it to be a revelation. In fact, back on November 2, I testified before the House Oversight Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending that this Administration’s “green energy” plan was a way for the President to dole out billions of taxpayer dollars to help pay back his political friends.
Others agreed. Including Peter Schweizer, whose book Throw Them All Out detailed how the Department of Energy accepted loan-guarantee programs to energy companies “run by or primarily owned by Obama financial backers.”
In an excerpt from Schweizer’s book, he details one stimulus program run by the DOE, called the 1705 Loan Guarantee Program:
In the 1705 government-backed-loan program [alone], for example, $16.4 billion of the $20.5 billion in loans granted as of Sept. 15 went to companies either run by or primarily owned by Obama financial backers—individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party. The grant and guaranteed-loan recipients were early backers of Obama before he ran for president, people who continued to give to his campaigns and exclusively to the Democratic Party in the years leading up to 2008. Their political largesse is probably the best investment they ever made in alternative energy. It brought them returns many times over.
