Obama’s Energy Chief Hails Loss Of Taxpayer Billions A ‘terrific success’

“No matter if the science of global warming is all phony…
climate change provides the greatest opportunity to
bring about justice and equality in the world.”
– Christine Stewart,
former Canadian Minister of the Environment

Climate Change Is “Not Debatable” …”I am not interested in debating what is not debatable,” – Obama’s Energy Secretary Ernest Moniz

“I don’t have much patience for people who deny climate change” – Obama.

“The prospect of cheap fusion energy is the
worst thing that could happen to the planet.”
– Jeremy Rifkin,
Greenhouse Crisis Foundation

“Giving society cheap, abundant energy would be the
equivalent of giving an idiot child a machine gun.”
– Prof Paul Ehrlich, Stanford University. The Royal Society

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Energy Department chief hails green loans a ‘terrific success’ | WashingtonExaminer.com

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Ernest Moniz was elected unopposed in May 2013 as Obama’s energy secretary. His primary task, to accelerate “the transition to a clean energy economy by developing a smart “green” electric grid, promoting energy efficiency and renewable energy through a “Race to the Top” program, and furthering other critical energy projects.” Fred Krupp, President, Environmental Defense Fund.

Obama noted on the confirmation of Moniz, “He also shares my conviction that the United States must lead the world in developing more sustainable sources of energy that create new jobs and new industries, and in responding to the threat of global climate change.” President Barack Obama.

The Obama administration’s quest to take America back the stone age with a ‘clean energy economy’ has certainly started in ‘ernst’. Picking winners and losers in the energy market has cost taxpayers billions of dollars. The rate of failure, corruption and cronyism, within the companies receiving the subsidies is substantial :

List of faltering or bankrupt green-energy companies as at October, 2012 :

1. Evergreen Solar ($25 million)*
2. SpectraWatt ($500,000)*
3. Solyndra ($535 million)*
4. Beacon Power ($43 million)*
5. Nevada Geothermal ($98.5 million)
6. SunPower ($1.2 billion)
7. First Solar ($1.46 billion)
8. Babcock and Brown ($178 million)
9. EnerDel’s subsidiary Ener1 ($118.5 million)*
10. Amonix ($5.9 million)
11. Fisker Automotive ($529 million)
12. Abound Solar ($400 million)*
13. A123 Systems ($279 million)*
14. Willard and Kelsey Solar Group ($700,981)*
15. Johnson Controls ($299 million)
16. Brightsource ($1.6 billion)
17. ECOtality ($126.2 million)
18. Raser Technologies ($33 million)*
19. Energy Conversion Devices ($13.3 million)*
20. Mountain Plaza, Inc. ($2 million)*
21. Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
22. Range Fuels ($80 million)*
23. Thompson River Power ($6.5 million)*
24. Stirling Energy Systems ($7 million)*
25. Azure Dynamics ($5.4 million)*
26. GreenVolts ($500,000)
27. Vestas ($50 million)
28. LG Chem’s subsidiary Compact Power ($151 million)
29. Nordic Windpower ($16 million)*
30. Navistar ($39 million)
31. Satcon ($3 million)*
32. Konarka Technologies Inc. ($20 million)*
33. Mascoma Corp. ($100 million)

*Denotes companies that have filed for bankruptcy.

More recent renewable “investment” projects of ideologically, not market-driven preference, that have collapsed :

Ecotality

Ecotality, an electric car charger maker, files for bankruptcy.

(Reuters) – Ecotality Inc, a maker of charging stations for electric cars that won a $99.8 million grant from the U.S. Department of Energy four years ago, has filed for bankruptcy protection and said it plans to auction its assets next month. More »

Fisker Automotive

Despite Receiving Millions Of Dollars Through Taxpayer Support, Fisker Automotive Is “Exploring” Bankruptcy And Will Furlough Its Workforce

In 2009, Fisker Was Awarded $529 Million From The Obama Administration’s Department Of Energy Loan Program. “The company was founded in 2007 and drummed up about $1.2 billion in private financing. In 2009, Fisker also won a $529 million federal loan as part of an Obama administration program to spur advanced vehicle development.” (Deepa Seetharaman, “Fisker Puts U.S. Workforce On Furlough This Week,” Reuters, 3/27/13)

More Failures From Obama’s Green Energy Loan Program – GOP

A123 Systems

The Bankrupt A123 Systems Received $249 Million Of Taxpayer Money From Obama’s Department Of Energy Loan Program. “The Department of Energy awarded A123 a $249 million grant in 2009, of which the battery maker had received $133 million when it filed for bankruptcy. The effects of the bankruptcy extended beyond the company. A123 was the battery provider for DOE-loan recipient Fisker Automotive, which ceased production last year.” (“Embattled DOE-Grant Recipient Changes Name From A123 To B456,” Washington Free Beacon, 3/28/13)

More Failures From Obama’s Green Energy Loan Program – GOP

Would Moniz call all that a “terrific success” if it were his own money?

The socialist left, never afraid to risk, bet, lose and waste other people’s money, protected by the sanctimonious tower of ‘morality’.

Or as Margaret Thatcher so aptly put, “The problem with socialism is that eventually you run out of other people’s money [to spend].” or “Eventually, Socialists run out of other peoples’ money [to spend].”

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How a socialist Obama administration treats “other people’s money” :

via Real Science

Obama Wants You To Believe In His $16.75 Trillion Debt

Posted on July 6, 2013 by stevengoddard

 

moveleft.org/obamas_promises/www-barackobama-com_issues_fiscal.pdf

Bush increased the debt to $8.8 trillion in eight years, and that was bad. So Obama increased it to $16.75 trillion in four years – and that is good.

US National Debt

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And Senator Obama’s own words on the ‘campaign’ trail in 2006 :

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a Sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. …Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here’. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and Grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”

– Senator Barack Obama – March, 2006

Obama rallied against deficits before he became a radical, record-breaking, big socialist spender :

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Related Articles :

• Europe’s Green Energy Basket Case Is Barack Obama’s Dream | CACA
• Solyndra Not the Only Questionable Obama Loan to ‘Green’ Energy – Economic Intelligence (usnews.com)
• US DEBT CLOCK

The Myth Of ‘Green Jobs’ :

• DOE Green Energy Loans: $11.45 million per job and a rounding error’s worth of averted carbon emissions. | Watts Up With That?
• The Empty Promise Of Green Jobs | Tory Aardvark
• True cost of Britain’s wind farm industry revealed – Telegraph
• THE HOCKEY SCHTICK: New apparent record for govt. waste: $24.4 million per ‘green job’
• The Myth of Green Energy Jobs: The European Experience – Energy and the Environment – AEI
• The data is in: more Green jobs means less real ones « JoNova
• Let’s copy Germany: 23,000 wind towers make 7% of its electricity to stop 0 degrees of warming « JoNova

Quotes via The Green Agenda

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