Skip to comments.Report: 80% of DOE Green Energy Loans Went to Obama Backers
Posted on 11/14/2011 10:46:41 AM PST by tcrlaf
A new book by Hoover Institution fellow Peter Schweizer details the startling extent of the cronyism that has pervaded President Obamas green jobs push. According to Schweizer, 4 out of every 5 renewable energy companies backed by the Energy Department was run by or primarily owned by Obama financial backers.
Those companies political largesse is probably the best investment they ever made in alternative energy, Schweizer explains. It brought them returns many times over.
Such is the inevitable consequence of large government interventions in private markets. Leaving aside the losses associated with transfers of funds from self-sustaining industries to ones that rely on government support, such interventions also encourage unproductive business activities by making subsidy suckling far more profitable than run-of-the-mill business expansions or product improvements.
(Excerpt) Read more at blog.heritage.org ...
Just ask anyone at the Gay-Run New York Times!
Oh boy, another opportunity to use Obama's favorite word, "unprecedented."
Another Bombshell Expose! Green Loans! The Real Story!
What would you say if I told you all the green loans were a scam? They were a slush fund that went to donors, bundlers, politicians, their family, friends, lawyers and lobbyists.
What I am about to tell you is going to make your head explode!
You all know about the Solyndra scam thats evolving. Well Solyndra is not the only loan that went bad. All the loans went bad. That was the intent all along.
Every loan benefited Obama. Every loan benefited Dems. Every loan benefited Dem donors.
We have been researching Solyndra and Zucotti Park. That is a strange combination on its face, but remember I had told you about Zucotti Park belonging to Brookfield properties.
Heres the deal. Politicians know the money is coming. They let their big donors, family, friends, lawyers and Lobbyists know. They invest in failing companies. They know the company is going to go bankrupt. Its designed that way.
They make a pre bankruptcy agreement where they get the investment back, first, before other creditors and taxpayers see a dime.
Once they obtain the loans, the real laundering begins.
They strip every dime. Pay off each other. Donate to Obama, and other dems.
Some companies funnel money overseas, to China, Finland, Russia, and other subsidiaries.
Chu runs cover.
The companies go bankrupt as intended and the money is laundered, never to be seen again.
The list, ping
Let me know if you would like to be on or off the ping list
“4 out of every 5 renewable energy companies backed by the Energy Department was run by or primarily owned by Obama financial backers.”
Gee, come on give the guy a break, it is just a coincidence. The coincidence occurs because every nit wit idea about free anything has a democrat backed or recipient involved!
But in the press, the number of bimbos that Cain may have offended is top news.
I’m not sure what to think. I’d kind of imagine that most green companies are run by lefties, since they are hoping that Obama increases the cost of energy to such an extent that they become viable. How many conservatives run abortion clinics? How many lefties run stand-alone profitable enterprises? Obama is a thug, but the MSM will let him ooze out of this one. Killing the pipeline is the big kahuna. That SOB in DC Through his own actions cost us jobs and is driving up energy costs, in one of many piss poor decisions. FUBO!
Maybe Rick Perry should write “Department of Energy” 100 times on the blackboard.
Well, that might not be a surprise. What percentage of Green Energy firms backed Obama?
Heck, finding enough “green energy” firms that DIDN’T back Obama to constitute 20% might be an achievement.
What’s wrong isn’t that they got the money - what is wrong is that Federal Government was able to give them any money at all...
Purely Coincidence! I’m sure..
This is less about cronyism and more about the “green” industry being run by liberals for liberals. But casting them in the same light as “big oil” certainly doesn’t hurt the cause. The MSM will turn a blind eye towards this just like they ignore the fact that there is big money in the abortion mills run by Planned Parenthood.
Anyone surprised, raise your hand.
The Marxist looting of the public treasury continues.
The headline should read 80% of companies that got loans have been identified so far as big Obama donors The other 20% are still being investigated.
We’ll never know where this money will end up. When these things go belly up they invariably protect the people at the top and the taxpayers get screwed.
Its like its meant to be a payoff to Obie supporters, who will in turn give back.
Same with stimulus.
We may never seen an accounting of where the stimulus money actually went.
What did they buy with their green loans, I wonder:-F)
I don’t know which is worse, the thieves or the idiots that just keep complying with a corrupt government. It’s not stealing when you willingly turn your tax dollars over to thieves.
Only 80%, someone will have to pay dearly for not making sure is not at least 95%.
Thanks for the ping.
This is enough, lead him out in handcuffs.
What did you think he meant when Obama yammered about “green”?
A threefer on this one: corruption, green politics, and government waste.
More Q’s for SunPower, [Dem Rep George] Miller & Son
HUMAN EVENTS filed Freedom of Information Act requests on Oct. 21 to more deeply investigate a star-crossed California solar company championed by a Democratic Capitol Hill power broker and his lobbyist son.
The document request, made in partnership with Judicial Watch, the Washington-based government watchdog, was filed after weeks of unsuccessfully requesting answers to the questions about circumstances surrounding the $1.2 billion loan guarantee from the Department of Energy’s 1705 program applied for by San Jose, Calif.-based SunPower, which was approved hours before the program expired on Sept. 30.
The same day, SunPower received a $100 million contract from the Navy to provide electrical power to the Naval Air Weapons Station China Lake, in California, beating out 12 other proposals.
In support of the loan request, Rep. George Miller III, the co-chairman of the policy and steering committee for House Democrats, wrote a letter to the Department of Energy and led Secretary of the Interior Kenneth L. Salazar on an Oct. 14, 2010, tour of the company’s facility in Richmond, Calif.
The congressman’s son, George Miller IV is a founding partner and principal in the influence-peddling firm Lang, Hansen, O’Malley & Miller, which billed the solar company $176,000 in lobbying fees, starting in 2009.
The loan guarantee was designated to support a joint venture between SunPower and NRG Energy of Princeton, N.J., called the California Valley Solar Ranch. The ranch is currently being built by SunPower in the Golden State’s San Luis Obispo County.
Tom Fitton, the president of Judicial Watch, said he was happy for the opportunity to join HUMAN EVENTS in the investigation.
This has all the hallmarks of a classic Washington scandal, he said. One would think that Messrs. Miller would want these documents out there as much as we do.
The Freedom of Information Act requests were submitted to the departments of Treasury, Energy, Interior and Navy.
This is the same George Miller who is Pelosi’s right hand henchman and a bitter enemy of Central Valley farmers. He has been instrumental in pitting fishermen against farmers and using the phony Delta Smelt issue to shut down all farming. He has an ideological hatred of “trees growing in rows.” Or something. Or maybe he’s just evil.
Thanx for the ping TenthAmendmentChampion !