Skip to comments.Green Energy's Bad Karma
Posted on 11/21/2011 12:33:10 PM PST by raptor22
Boondoggles: With the administration's approval, the recipient of another half-billion-dollar loan to build electric cars is outsourcing the work and any jobs that might be created or saved to Finland.
The Fisker Karma electric car, heralded two years ago by Vice President Joe Biden as the future of the American auto industry, may prove to be another administration "bad bet," just as President Obama called Solyndra, heralded by Biden as the future of American energy.
"Folks, we're making a bet," Biden said Oct. 27, 2009, using a familiar administration metaphor. "We're making a bet on the future, we're making a bet on the American people, we're making a bet on the market, we're making a bet on innovation."
We've lost this bet too, it seems, since Fisker will be creating jobs in Finland paid for with American tax dollars.
The plan was for Fisker Automotive, backed by California venture capital firm Kleiner Perkins Caufield & Byers, whose partners include former Vice President Al Gore, the jolly green profiteer, to build electric sports sedans at the shuttered GM factory it bought in Delaware.
Instead, it'll be built using a $529 million taxpayer loan by 500 workers at a rural Finnish firm, Valmet Automotive.
The excuse given for the move was that Fisker Karma didn't want to be another Solyndra, though the car it builds may wind up being another Chevy Volt, an overpriced and overhyped vehicle built not to satisfy consumer demands, but rather government mandates.
(Excerpt) Read more at news.investors.com ...
SCAMS are karma for the left.
No telling how much money has been stolen from the American public and hidden by these crooks.
Karma karma karma...
I certainly wouldn't bet against that. However, the Fisker Karma has one edge over the Volt — it's much more expensive. It could appeal to (say) Hollywierdos, who want to “make a statement”, and who have tons of easy money to make it with. They'll be relieved to be able get rid of the Prius. GM is also producing a Volt with a Cadillac badge. It might do better than the Volt for the same reason — it will cost more. People who buy luxury autos aren't as price sensitive as the great unwashed.
They left the R out of Frisker
I don’t know what kind of a car Valmet will produce,but their guns were always first rate.
Another bad thing...
I put a 10kw solar pv system on my house. The utility confirmed a $2/watt rebate. It’s all been done for weeks now. The utility is purposely dragging it’s ass on changing my electric meter. They are ‘for green energy’ then when they find the co-investor they screw them. I had to finish paying out to $40k three weeks and haven’t been able to earn a penny back yet. Utility technician that did a so called inspection said the meter always comes the next business day. This bureaucratic utility is dragging that from last Friday until past Thanksgiving weekend. 10 more real days while my investment sits idle.
If I complain they will slow it down more and halt the rebate check that is still a month away.
I should’ve learned about deals with the devil.