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EDITORIAL: Uncle Samís solar eclipse
The Washington Times ^ | July 11, 2012 | Editorial

Posted on 07/11/2012 7:17:53 PM PDT by jazusamo

Federal funds can’t buy success under the sun

As much of the nation broils under the merciless July sun, the Obama administration can’t resist the urge to burn cash on “green” energy projects. Each time one of these solar-energy firms flames out, American taxpayers get singed. Even a sundial would indicate it’s quitting time.

The latest to fail is Abound Solar, a Colorado solar-panel manufacturer. The firm filed for Chapter 7 bankruptcy liquidation on July 2, two years after being awarded a $400 million stimulus loan guarantee. President Obama personally touted the loan during a 2010 radio address called “A Solar Recovery.” That was during “Recovery Summer,” when the administration shoveled $831 billion into the federal spending furnace, which was supposed to ignite the American economy by creating millions of jobs. Instead, unemployment has been stuck above 8 percent for 40 months, and for many, the American dream has gone up in smoke.

Abound Solar joins a growing list of Energy Department renewable-energy loan recipients gone bad. Others include the solar firm Solyndra, which triggered an uproar over government waste when it entered bankruptcy protection last August after pocketing $535 million in federal loan guarantees. Beacon Power went belly-up after receiving $43 million. Battery maker Ener1, which was awarded $118.5 million, has closed its doors, and A123 has undergone layoffs after taking $249 million.

The Energy Department’s risky business practices are not limited to solar panels. On July 3, Nevada Geothermal Power admitted it is struggling to stay afloat after receiving a $98.5 million loan guarantee...

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Business/Economy; Crime/Corruption; Editorial; Government
KEYWORDS: corruption; democrats; doe; energy; greenenergy; greens; obama; paytoplay
Billions of taxpayer dollars are being wasted on green energy by the Obama administration.
1 posted on 07/11/2012 7:17:59 PM PDT by jazusamo
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To: jazusamo

How much money did the owners donate to Obama?


2 posted on 07/11/2012 7:21:32 PM PDT by mfish13 (ELECTIONS HAVE CONSEQUENCES!!!!)
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To: jazusamo

How much money did the owners donate to Obama?


3 posted on 07/11/2012 7:21:45 PM PDT by mfish13 (ELECTIONS HAVE CONSEQUENCES!!!!)
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To: mfish13

Exactly...The owners, boards or high ranking officials in many if not most of these companies are big donors to Obama and Dems, it’s blatantly corrupt.


4 posted on 07/11/2012 7:32:18 PM PDT by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
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To: jazusamo

I just keep wondering if someday somebody is going to figure out that this string of loans and bankruptcies is nothing but a massive money laundering scheme that will make Teapot Dome look like a used tea bag.

There is something in the woodpile here. It is ugly, it stinks and it is evil.


5 posted on 07/11/2012 7:44:50 PM PDT by Sequoyah101 (You've been screwed by your government.)
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To: Sequoyah101
Couldn't agree more. So far some of these people have been connected to Obama before he became president, one day the dirty laundry will be aired, hopefully.
6 posted on 07/11/2012 7:50:27 PM PDT by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
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Please bump the Freepathon or click above and donate or become a monthly donor!

7 posted on 07/11/2012 7:51:14 PM PDT by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
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To: jazusamo; All
I'd be curious as to how many of these Obama "green energy" companies, like Solyndra, have gone bankrupt.

Is anyone keeping track?

8 posted on 07/11/2012 8:12:29 PM PDT by Cobra64 (Common sense isn't common anymore.)
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To: jazusamo

The obastard trolls show up everywhere. They come out of the sewers and dung heaps. They all seem to have money by no apparent means.


9 posted on 07/11/2012 8:27:51 PM PDT by Sequoyah101 (Half the people are below average, they voted for obastard.)
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To: Cobra64
I haven't kept track but there's been quite a few articles posted here on that very thing in the last few weeks.
10 posted on 07/11/2012 8:39:26 PM PDT by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
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To: jazusamo

Thanks! Since my last post, I’ve been researching the internet and compiling a spreadsheet with company name, date of bankruptcy and $ amounts.


11 posted on 07/11/2012 8:52:52 PM PDT by Cobra64 (Common sense isn't common anymore.)
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To: Cobra64
Thanks! Since my last post, I’ve been researching the internet and compiling a spreadsheet with company name, date of bankruptcy and $ amounts.

There have been a lot of articles posted on FR concerning these scams. Most of these articles have keywords like "greenenergy" attached to them. See the keyword list on this thread, for example. You can search FR by those keywords.

12 posted on 07/12/2012 1:05:58 AM PDT by Rocky (Obama is pure evil)
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