Beam me to Planet Gore !
Posted on 09/28/2011 4:54:57 AM PDT by Oldeconomybuyer
In the name of “green energy,” the Obama administration is using taxpayer money to subsidize a New Hampshire wind farm that is a subsidiary of a hugely profitable company.
BAIF Granite Holdings was created earlier this year by Brookfield Renewable Power, which is a subsidiary of Brookfield Asset Management of New York.
That company, which runs clean energy operations around the world, has deep pockets. It reported net income of $454 million in 2009 and $3.2 billion in 2010. With that kind of backing, it is curious that the U.S. Department of Energy announced it would guarantee up to 80 percent of a $168.9 million loan for the Granite Reliable wind farm project last week.
Why would a company created by a $3.2 billion company and backed by a $2.7 billion private fund need federal loan guarantees?
With the country running deficits as far as the eye can see, the Obama administration opts to spend money we don’t have to subsidize a risky venture undertaken by the subsidiary of a huge, profitable company. If that doesn’t perfectly illustrate what is wrong with crony capitalism in general and the Obama administration’s practice of it in particular, we don’t know what would.
(Excerpt) Read more at unionleader.com ...
the only bastion of life, liberty and the pursuit of happiness in the Northeast, gone.
Makes me think of a song...
I WENT BACK TO OHIO
BUT MY PRETTY COUNTRYSIDE
HAD BEEN PAVED DOWN THE MIDDLE
BY A GOVERNMENT THAT HAD NO PRIDE
THE FARMS OF OHIO
HAD BEEN REPLACED BY govt windmills
AND MUZAK FILLED THE AIR
FROM SENECA TO CUYAHOGA FALLS
SAID, A, O, OH WAY TO GO OHIO
THE AGENDA MUST CONTINUE AT ALL COST!!!!
“THE AGENDA” is to destroy the capitalist system in America.
And “green energy” will do just that.
Mayor Bloomberg’s longtime domestic partner Diana Taylor is on the Board of Directors at Brookfield Properties .
Bloomberg’s announcement Monday that protesters could remain as long as they liked, raised a few eyebrows .
a $168.9 million Federal government loan guarantee
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