Skip to comments.U.S. clean energy loan program could double
Posted on 09/16/2011 3:43:53 AM PDT by Oldeconomybuyer
The controversial Energy Department loan program that backed a now-bankrupt solar panel maker could nearly double in size by the month's end.
The Department of Energy has until Sept. 30 to give 14 companies final approval for loan guarantees totaling over $9 billion.
So far the Energy Department has already backed over $10 billion in loans to 18 companies, including a $535 million loan to Solyndra, the solar panel maker that went bankrupt and is now the subject of congressional and FBI investigations.
The high-profile bankruptcy is causing some to question whether the rest of the loan guarantees should be made.
(Excerpt) Read more at money.cnn.com ...
Why hasn’t DOE been de-funded?
Must hurry. Must destroy the US by January 20, 2013...
That was my question. Why do we need an energy department?
Viable sources of energy do not need subsidies.
Ugh if it needs a subsidy it’s not a good idea! Get rid of DOE.
Serious questions: What is "clean energy"? Why do we need it? Why do we want it?
When I hear "green technology" or "clean energy" I automatically think "government corruption" and nothing but "government corruption".
The liberal/government philosophy: When something fails and fails obviously don't say "We did the wrong thing." NEVER admit that you were wrong. Say rather, "We didn't go far enough." In 0 and his accomplices minds Soylandra went bankrupt, NOT because the concept is a loser, but because $532 million in taxpayer money wasn't enough. If they could just put enopugh taxpayer dollars into it, then it would be a shining success.
This is an example of why government should never be in the venture capital business. The marketplace determines what ideas succeed and what fail, All government does is impoverish taxpayers and reward its cronies with taxpayer dollars. Want to know how much 0bama's largess to Soylandra cost you personally?
|income percent||what you pay|
|2% - 5%||$17.76|
|6% - 10%||$7.70|
|11% - 25%||$3.75|
|26% - 50%||$1.50|
Clean = Laundering, as in money
Go to the DOE site linked in the article, it is very enlightening. For instance, in the DOE count in the automotive section for jobs “created or saved” for Fisker automotive is shown 2,000 jobs “created or saved” and 30,000 cars off the road annually. I wonder if real people used to make those 30,000 cars “off the road” before Fisker’s “new” 2,000 people built theirs.
No wonder the Obamass can claim 1.9 million “new or saved” jobs. Kinda like my wife counting her net earnings at Saratoga; won $50 on bets that cost $100 equates to winnings of $50; the $100 doesn’t come into play because she had counted on losing the $100 anyway.
Now I understand why a city like Detroit is in the crapper.
Does it ever stop.
Not until we send the community organizer back to community organizing - Hopefully back home in Kenya. . . . . . .