Skip to comments.Obama: ‘Some of the Businesses We Encourage Will Fail’
Posted on 11/01/2012 11:29:18 AM PDT by Sub-Driver
Obama: Some of the Businesses We Encourage Will Fail By Matt Cover November 1, 2012
(CNSNews.com) President Obama told a campaign rally that some of the businesses we encourage will fail while talking about his plans for increased green energy subsidies in a possible second term.
Today there are thousands of workers building long-lasting batteries and wind turbines and solar panels all across the country, jobs that werent there four years ago, Obama said, touting his administrations efforts to subsidize the green energy industry.
Obama then admitted that not everything the government will bet on will be successful, admitting that in fact some of the businesses he plans to give taxpayer funds will be sure to fail.
And sure, not all of the technologies we bet on will pan out. Some of the businesses we encourage will fail, but I promise you this: there is a future for manufacturing here in America, he said. Theres a future for clean energy here in America, and I refuse to cede that future to other countries.
Obamas signature green energy subsidy program has been plagued by high-profile failures, most notably of solar-panel manufacturer Solyndra, which received $500 million in government loans and became the face of Obamas green jobs initiative before going bankrupt in 2010, defaulting on its government loans after administration officials took extraordinary measures to save it, even subordinating those loans to those of private investors, making sure that taxpayers were repaid last.
Normally, government loans are required to be senior to those of private investors, ensuring that taxpayers are first in line to get their money back if the company fails.
Other high-profile green energy failures include Abound Solar, electric car maker Fisker, and the much-hyped electric Chevy Volt....
(Excerpt) Read more at cnsnews.com ...
Translation: “Some of the businesses I King Obama choose to allow suckle at the taxpayer teet will fail, because it is I, King Obama who chooses the weiners and losers.”
Typo? What typo?
Translation: “Some of the businesses I King Obama choose to allow to suckle at the taxpayer teet will fail, because it is I, King Obama who chooses the weiners and losers.”
Typo? What typo?
“President Obama told a campaign rally that some of the businesses we encourage will fail while talking about his plans for increased green energy subsidies in a possible second term.”
I thought he didn’t want to return to the failed policies of the past four years? Ohhhhhhh...he must have meant Bush.
Gamble with your own damn money!!
Meaning, the money we steal and give to who we feel deserves it, will fail. It’s designed that way to line the pockets of their cronies. It is crminal.
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Complete List of President Obamas Taxpayer-Backed Green Energy Failures (as of Thursday, October 18th, 2012)
Evergreen Solar ($24 million)*
Solyndra ($535 million)*
Beacon Power ($69 million)*
AESs subsidiary Eastern Energy ($17.1 million)
Nevada Geothermal ($98.5 million)
SunPower ($1.5 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDels subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
National Renewable Energy Lab ($200 million)
Fisker Automotive ($528 million)
Abound Solar ($374 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($6 million)
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsens Crop Service and Olsens Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.4 million)*
Stirling Energy Systems ($7 million)*
LSP Energy ($2.1 billion)*
UniSolar ($100 million)*
Azure Dynamics ($120 million)*
Vestas ($50 million)
LG Chems subsidiary Compact Power ($150 million)
Nordic Windpower ($16 million)*
Navistar ($10 million)
Satcon ($3 million)*
>> Today there are thousands of workers building long-lasting batteries and wind turbines and solar panels all across the country, jobs that werent there four years ago,
Name 3, and state how many jobs have been created by each, at what cost to the taxpayer.
Hell... name ONE. Just ONE.
(He won’t, ‘cause he can’t be sure the one he names won’t go belly up before Tuesday!)
All of the Businesses We Encourage Will Fail
“Obama then admitted that not everything the government will bet on will be successful...”
That be the 127678th amendment where the government is supposed to able to bet on stuff.
Still did not own up to his failure, I see.
Would be nice to have a *running* total of all that added up, at either the beginning or the end of the list.
GREEN SCAM: 80% Of Green Energy Loans Went To Obama Donors - 19 Companies Went Bust
I’ll do it.
The numbers clime every day.
No you buggery pirate... ALL OF YOUR BUSINESSES ARE FAILING OR HAVE FAILED... PUNK!
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