80% of all DOE loans went to Top Obama donors (Larry Summers!)

Big Govt ^ | 11/17/2011 | Wynton Hall

[GlockThe Vote]

With Energy Secretary Steven Chu set to testify Thursday before the House Energy and Commerce Committee about the government’s $573 million loan to failed solar panel maker Solyndra, an explosive new list of energy loan amounts to President Obama’s top fundraisers, bundlers, and supporters has been released by Breitbart editor Peter Schweizer, author of Throw Them All Out.

As the list reveals, 80 percent of all $20.5 billion in Department of Energy loans went to President Obama’s top donors. Furthermore, some of those dwarf in size those given to Obama bundler George Kaiser, owner of the now defunct Solyndra.

The list—which features the likes of Google owners Larry Page and Sergey Brinn, Robert F. Kennedy Jr., Ted Turner, John Doerr, and Al Gore—raises new questions about the procedures used to administer the now-controversial DOE loans.

[GlockThe Vote]

Ted turner got 4 billion too.

[Political Junkie Too]

I saw that. I don't know what his energy interests are.

-PJ

[xrmusn]

It’s nothing more than a political slushfund just like “stimulus”
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

Kind of makes one ‘wish’ for the good old days back when all the cronies wanted for compensation was an Ambassadorship to East Wherever so their resume and ego could get pumped up.

And the majority of them could have cared less about the pay, it was about a ‘powerful position’ to brag about at cocktail parties.

[GeronL]

This country is literally being looted right in front of us.

[GlockThe Vote]

Remember eric massa? He complained about this and hus scandal broke. Will post more later on this

[AmericanInTokyo]

Well put, GeronL. Well put.

[jmstein7]

Help out! Go to Solyndra Central:

http://www.facebook.com/pages/Solyndra-Central/203750986367386?sk=friendactivity

[jmstein7]

http://www.facebook.com/pages/Solyndra-Central/203750986367386#!/pages/Solyndra-Central/203750986367386?sk=info

[GeronL]

I probably should have put the 57 state thing in there somewhere. :p

[GlockThe Vote]

An Ill First Wind Hits the Public in the Pocketbook June 1, 2010 The promises of alternative energy generated from industrial wind turbines are suspect when examined on the facts. The basis for justification for the entire industry is that electricity generated from uneconomical technology is environmentally friendly. The public is supposed to accept higher costs from inefficient and unreliable generation just because it is “green”. Touting wind as a free source of energy is dishonest. This old technology from skyscraper size industrial machines is anything but free. The media seldom reports that industrial wind does not produce cost effective reliable electricity. Cowardly politicians who dare not oppose the industry ignore indisputable and inescapable facts about wind. Rational reasons against spending public expenditures for subsidizing a technology that has never yet replaced a fossil fuel power plant is overwhelming. If industrial wind factories were a real solution, why will not entrepreneurs develop their projects the old fashion way, with their own money? Government policy that favors and protects the economic failure of wind projects is essential for the deception to continue. Even proponents of the most radical global warming myths are taxpayers and consume electricity. Where is their outrage when costs increase at exponential rates, from ill-conceived wind projects, with no ceiling in sight? For answers, an examination of the First Wind Company provides a window on a culture of corruption that is indefensible. First Wind has an application pending before the SEC for an IPO. A review of their S1, S1A and additional supplement filings paints a very dire picture. Prospectus disclosures, must describe risky conditions for a security offered to participants and buyers. The Boston Business Journal report, “In its latest Securities and Exchange Commission filing, the Boston-based company reiterated it could default on an $80 million loan due next month. First Wind currently is negotiating with a consortium of banks to receive $240 million in financing that would pay off a turbine loan that matures June 30.” Part of First Wind’s financial woes is the failed Cohocton, NY project. Original admission that the 50-turbine development cost of $265,000,000 have escalated by tens of millions after three seasons of refitting, repairs and substitutions. Clipper Windpower Liberty 2.5 MG turbine is a total bust as a viable generating unit. Clipper stock (CWP.L) traded on the London exchange; hit a new low this week. The NYISO lists the Canandaigua Power Partners, LLC (entity of ownership for the Cohocton First Wind project) as having a 2008 net energy production of 10,155 MWh and zero kilowatt capacity for 2009. When pushed the NYISO admits that the project is “In Service”, which really means it is in the testing stage. No verified proof is available that any electricity generated by this project is going into the grid for sale to consumers. Leaseholder’s agreements have a minimum payment amount with an extra small percentage for production. If First Wind were really selling electric into the grid, leaseholders are owed money on that production. The fact that Cohocton leaseholders have not received any funds on generated electricity is proof that the project is a failure. Actually, the project consumes significant energy when not producing usable electricity. Energy consumption in wind facilities lays out the different requirements of a wind turbine that eats up significant portions of electricity generated. When the wind is not blowing or a project is not set up for the grid to accept energy, the facility is a net user of electricity. In June 2008, First Wind filed a complaint against the NYISO with FERC (Federal Energy Regulatory Commission) to exempt CPP from the Open Access Transmission Tariff that had been previously agreed upon. The point is that First Wind seeks to transfer normal development costs onto the backs of the ratepayer. First Wind received in the fall of 2009, $74.6 million in federal stimulus grants through the Department of Energy. These funds had no restriction for use and no accounting disclosure followed. Democratic and Chronicle reporter Steve Orr wrote on September 2, 2009 about First Wind’s compliance with the NYS AG ethic agreement. “First Wind was one of at least two clean-energy firms that state Attorney General Andrew Cuomo investigated last year after complaints about collusion between companies and improper dealings with local government officials.” Former U.S. Rep. Eric J. Massa (D-N.Y.) wrote to President Barack Obama, calling the grants “very alarming” and saying the company “abused the public trust” and had problems with U.S. tax dollars going to what he called “shell companies” for First Wind. Massa noted, “First Wind is under investigation by the New York Attorney General’s office for alleged corruption. The actual appropriation is going to Canandaigua Power Partners and Canandaigua Power Partners II, subsidiaries of First Wind.” “This is one of the most volatile issues in Western New York, and the award of $74.6 million dollars to corrupt companies that have changed names time and again, forming new LLCs and new Inc’s but maintaining their business model of lie, cheat, and corrupt at the expense of taxpayers, has stirred great unrest in New York’s 29th Congressional District,” Massa wrote to the president. First Wind CEO Paul Gaynor, a former Enron executive, responded in a letter to Obama, saying that First Wind’s New York wind farms have produced 133,370-megawatt hours of clean, renewable energy, but never provided any proof of his claim. How does a company like First Wind gain favorable benefits and access to energy policy? Reporter Naomi Schalit of the Maine Center for Public Interest provided some insights in the article, Ex-PUC head enriched by utility company. “While he was Maine’s chief utilities regulator, Kurt Adams accepted an ownership interest in a leading wind energy company . . . A recent First Wind filing with the federal SEC for 2009 shows Adams’ $1.3 million compensation included $315,000 in salary, $658,000 in stock awards, $29,000 of “other” compensation and $315,000 in “nonequity incentives.” The latest First Wind SEC filing attempts to downplay the conflict of interests and breach of ethical conduct of Mr. Adams. Their explanation does not pass the smell test. Such suspect business practices are standard behavior for First Wind. It has a long history of using political insiders to gain special treatment. Documented in the Citizen Power Alliance essay, Industrial Wind and the Wall Street Cap and Trade Fraud is the dark origins of First Wind, previously called UPC. The Boston Herald asked Brian Caffyn, founder of UPC/First Wind, about the arrest for fraud of his former Italian wind developer partner Oreste Vigorito. “I read about it in the papers, and I was very surprised,” Brian Caffyn said from Hong Kong where he is in business with Chinese interests. The political cronyism between First Wind and the Obama administration extends to Rahm Emanuel and Larry Summers and their involvement with the primary ownership interests of First Wind, hedge fund DE Shaw and private equity firm Madison Dearborn. Documented sources within the CPA article substantiate the trail of money and influence that flows from this wind developer to the highest levels of government. New York State a den of thieves NYS operates as if it is a suburb of Chicago. IDA (industrial development agencies) sell tax exemptions, state agencies ignore their own policy regulations to advance wind development, the attorney general office looks the other way when conflict of interest practices lead to criminal conduct and local public officials routinely take bribes for their vote and support of specific projects. With each complaint to the Public Service Commission, the PSC bends over backward to have First Wind cover their paper trail discrepancies or modify their filings. Governor Paterson’s State Energy Plan calls for a ” ’45 by 15′ clean energy goal would reduce the amount of electricity used in 2015 by 15 percent below forecasted levels, while simultaneously meeting 30 percent of the State’s remaining electricity needs through renewable resources.” First Wind is in business to claim their share of the booty. REC credits (renewal energy certificates) are the new coin of the realm. It makes little difference if actual electricity is generated into the grid for sale to reap the financial rewards of this slight of hand deception. Carved in stone is a history of NYS favoring NYC over upstate. The latest insult is the Power for Jobs hoax. The Buffalo News describes this initiative, “The agreement between Paterson and the Senate leaders would set aside slightly less than a third of the electricity — at least 300 megawatts of the 910 megawatts available through the expanded Power for Jobs program — for upstate businesses served by National Grid, New York State Electric & Gas Corp. and Rochester Gas & Electric.” The allocation difference goes to NYC. Assembly representative Joseph Morelle, opposition states, “it takes low-cost hydropower from Rochester and Upstate New York and ships it downstate . . . This proposed shift would result in an increase of approximately $80 to $125 per year on the bill of the average RG&E residential customer.” What does Western NY get out of this shady deal? You guessed it, more industrial wind turbine disasters from developers like First Wind so they can erect their unsuccessful projects using out of state labor or even undocumented foreign workers. The fallout from the Cohocton Project is a horror story in its own right. Real estate values plummet; sales of properties are non-existent, “Wind Syndrome” health issues abound, an OSHA investigation of a construction crane collapse and final abandonment of residences because of low frequency noise, shadow flicker and safety risks prevent continued use of one home. The tragic destruction of pastoral communities from insane government policy would fill volumes of books. Most people will never show concern for rural areas or even the corrupt business practices of crooked wind developers. First Wind is just the best example of the unholy alliance and revolving door of crony capitalism that is driving up the costs of electricity beneath the lies of “Greening America” and job promotion. The public is asleep. Their righteous outrage is long overdue. It is time to clean up the system from the dishonesty of industrial wind developers. “Although our name has changed, our core values remain the same” said Paul Gaynor, President and CEO of First Wind. ________________________ _________ Now we know why they forced out Massa.   

[Moonman62]

80% of all DOE loans went to Top Obama donors (Larry Summers!)

Somebody notify the OWS hippies.

[kcvl]

No kidding! What does that idiot know about running anything?

[kcvl]

Abound Solar which employs Russell Kanjorski, Congressman Paul Kanjorski’s nephew, had no problem securing a $400 million FEDERAL LOAN GUARANTEE by the Department of Energy.

The same company, formerly called AVA Solar and now known as Abound Solar Manufacturing, received a $3 million federal grant in 2008.

Kanjorski said the loan guarantee was just “coincidental”.

http://sightsonpennsylvania.blogspot.com/2010/07/russ-kanjorskis-frim-survives.html

[kcvl]

Patricia A. Stryker (born 1956) is the granddaughter of Homer Stryker, surgeon and founder of Stryker Corporation, a medical technology company.

The low-profile heiress has been more active in civic life in recent years, with an interest in liberal causes. She donated $3 million to defeat a 2002 ballot initiative regarding bilingual education in Colorado. In 2004, she gave $20 million to Colorado State University, mostly to benefit its football team.

In 2006, Stryker gave $500,000 to the Coalition for Progress, a political action committee that donated heavily to support Democratic party candidates in Michigan elections.

In 2008, Stryker gave $87,500 to the Presidential Inaugural Committee for President-Elect Barack Obama.

Stryker donated $3 million to defeat a 2002 ballot initiative regarding bilingual education in Colorado.

Following fraud allegations in November 2007 involving Stryker Corp. overbilling for Medicare in South Dakota, Republicans called on Democratic organizations to return donations they had received from Stryker and her brother, Jon Stryker.

http://en.wikipedia.org/wiki/Pat_Stryker

[kcvl]

vinod khosla

Vinod grew up dreaming of being an entrepreneur, despite growing up in an Indian Army household with no business or technology connections. Since the age of 16, when he first heard about Intel starting up, he dreamt of starting his own technology company.

Khosla is a charter member of TiE, a not-for-profit global network of entrepreneurs and professionals founded in 1992 that now has more than forty chapters in nine countries. He is also a founding board member of the Indian School of Business. His current passion is social entrepreneurship, with a special emphasis on microfinance as a poverty alleviation tool. He is a supporter of many microfinance organizations in India and Africa. He has been experimenting with education and global housing. Vinod is also passionate about alternative energy, petroleum independence, and the environment. He can be reached at vk@khoslaventures.com.

http://www.khoslaventures.com/khosla/people_vk.html

Vinod Khosla (Gurmukhi); born 28 January 1955) is an Indian-born American venture capitalist and an influential personality in Silicon Valley.

Khosla was one of the co-founders of Sun Microsystems, where he served as its first CEO and Chairman in the early 1980s. In 1986, he became a general partner of the venture capital firm Kleiner Perkins Caufield & Byers, where he remained through the early 2000s.

In 2004 Khosla formed his own firm, Khosla Ventures, which focused on venture investments in various technology sectors, most notably clean technology.

http://en.wikipedia.org/wiki/Vinod_Khosla

[kcvl]

L. John Doerr (born June 29, 1951 in St. Louis, Missouri) is an American venture capitalist at Kleiner Perkins Caufield & Byers in Menlo Park, California, in Silicon Valley. In February 2009, Doerr was appointed as a member of the President’s Economic Recovery Advisory Board to provide the president and his administration with advice and counsel in fixing America’s economic downturn. Forbes ranks Doerr as the 540th richest person in the world, with a net worth of US $2.2 billion.

http://en.wikipedia.org/wiki/John_Doerr

[kcvl]

Steven Paul Westly (born August 27, 1956, in Arcadia, California) is an American venture capitalist and politician. He was the State Controller and Chief Financial Officer of California from 2003 to 2007 and was one of the top candidates in the Democratic primary for Governor of California in the 2006 election. He was defeated in the Democratic primary by California State Treasurer Phil Angelides, who later lost to Republican Governor Arnold Schwarzenegger in the November 2006 elections. During the 2008 Presidential Election, Westly served as California Campaign Co-chair for Obama for America and also as a member of Obama for America’s national finance committee. Westly was briefly considered for a cabinet level position in the Obama administration. Currently, Westly is a Managing Partner at The Westly Group, a clean technology venture capital firm he founded

[kcvl]

Michael Polsky is the founder, President and CEO of Invenergy. Invenergy specializes in developing, acquiring and owning various power generations with an emphasis on renewable resources. With nearly 30 years of experience in the energy industry, he is widely recognized as a pioneer and an industry leader in the cogeneration and independent power industry in North America.

Prior to forming Invenergy in 2001, Polsky founded SkyGen Energy, in 1991, where he built one of the most successful teams in the independent energy industry. In 2001, SkyGen was purchased by Calpine Corporation. In connection with the sale, Mr. Polsky was appointed to Calpine’s Board of Directors and became a senior executive at Calpine in addition to continuing in his role as CEO of SkyGen. Prior to forming SkyGen, Mr. Polsky co-founded and was President of Indeck Energy Services Inc., where he led the development and financing of one of the first portfolios of independent power generating assets. Prior to forming Indeck Energy Services, Mr. Polsky held various positions at Fluor Engineers, Brown Boveri Turbomachinery and Bechtel Power Corporation.

Chicago, IL: (Jun-04-07) Maya Polsky, wife of energy magnate Michael Polsky for 31 years, received a divorce settlement in which a Cook County judge awarded her $176 million in cash and assets. The settlement amount represented half of the couple’s estate. On June 3, 2007, the judge amended the figure to nearly $184 million because previously omitted assets increased the overall value of the estate. In her suit, Maya Polsky claimed that she was her husband’s confidant and should be considered a partner in his success. The American Academy of Matrimonial Lawyers claimed that the $184 million divorce settlement is the biggest award nationally.

[cynwoody]

It seemed to start with little things: not reporting that Obama was a smoker, refusing to mention his middle name, refusing to mention he grew up in a Muslim country, refusing to report his campaign promise of skyrocketing electricity prices, then they attacked Joe the Plumber for daring to ask Obama a question that unmasked their chosen candidate as a Marxist, bought a house from crooked realtor and slum lord Tony Rezko in a sweetheart deal, they downplayed his 20-year membership in a hate church, poo-poohed his friendship and working relationship with terrorist Bill Ayers and his terrorist wife. The Obamas even spoke against the American dream, calling it “Middle-Classism”.

He was never vetted during the campaign, the media even chose not to report certain things and even attacked and maligned anyone who dared question him. (remember Joe the Plumber) Since getting in the White House Obama has literally given away a trillion dollars to friends and allies (so-called “stimulus”) and expects to get a billion dollars back for his campaign coffers. This is probably the biggest crime in history and its apparently not newsworthy. His administration has given guns to Mexican druglords, people have literally died-including Americans from those very guns. His “Obamacare” threatens to bankrupt the country while rationing out less but ever-more expensive healthcare to the people. He decries those who “don’t pay their fair share” while his top corporate allies, like GE, pay no taxes at all. He decries CEO’s “excessive salaries” while ignoring the salaries of top union officials, and Fannie Mae and Freddie Mac who walked away with millions as those institutions crashed to the ground and demanded bailouts.

Great summary!

[kcvl]

The Washington Post reported this week that President-elect Obama was considering Duke Energy CEO Jim Rogers for Secretary of Energy. While the challenging economic times and Obama’s campaign promises of bipartisanship demand that we give him some latitude on administrative appointments, the appointment of Jim Rogers would truly represent “change we can grieve in” for a President-Elect that has promised to aggressively confront climate change and curtail mountaintop removal coal mining. Calling such an appointment “change” may actually be overly generous as it would represent a continuation of the Bush policy of appointing industry foxes to guard our nation’s natural resource “hen house.”

And “fox” is a pretty apt description of Mr. Rogers.

As one of the nation’s top energy executives, Jim Rogers is a leader of what one colleague calls the “coaligarchy” - shorthand for the coal-based electricity industry that has long held an iron-fisted grip on the people, communities and ecosystems wherever coal is mined, processed, burned and disposed of as air pollution and other hazardous post-combustion waste. Along with companies like Massey Energy, the nation’s #1 producer of coal from mountaintop removal mines and the recent recipient of the largest penalty for clean water violations in the history of the Clean Water Act, Duke is a member of the American Coalition for Clean Coal Electricity, a group that spent $50 million this election season on a campaign to sell Americans and politicians on the false promises of so-called “clean coal technology.”

http://www.huffingtonpost.com/matt-wasson/appointing-duke-energy-ce_b_149985.html