Skip to comments.Green energy company fights for life after getting billions from feds (Abengoa)
Posted on 09/02/2015 7:43:16 PM PDT by Olog-hai
Abengoa, a renewable energy multinational company headquartered in Spain, has been a favorite of the Obama administration in getting federal tax money for clean energy projects.
Since 2009, Abengoa and its subsidiaries, according to estimates, have received $2.9 billion in grants and loan guarantees through the Department of Energy to undertake solar projects in California and Arizonaas well as the construction of a cellulosic ethanol plant in Kansas.
But in the space of less than a year, Abengoas financial health has become critical, leading investors to worry whether the company can survive.
The companys stock price on NASDAQ has swoonedfrom $29.32 on Sept. 2, 2014 to $5.62 on Tuesday. [ ]
The investment management website microaxis.com recently listed Abengoas probability for bankruptcy at 76.9 percent.
(Excerpt) Read more at watchdog.org ...
Who will audit this company and tell us where our money went?
2.9 billion dollars here, and 2.9 million dollars there,
and pretty soon, we’re talking about a lot of money.
We CAN NOT survive as a country for much longer if it stays on the course it is on.
America could be unrecognizable in 40 years.
These failed companies served their purpose of laundering taxpayer money that probably wound up in the pockets of cronies of those in this government. Their books should be audited by the Congressional Budget Office and those guilty of fraud should be convicted and jailed.
We are history. Unfunded liabilities of nearly 200 trillion and a national debt of nearly 20 trillion. I Remember surpassing one trillion during Reagan’s term and everyone was up in arms.
Stop spending, NOW!!!! Freeze federal spending, cut back on welfare payments, those who shall not work, shall not eat. And still the talking heads say how wonderful it is the the deficit has been reduced these last few years. Deficit? What about the debt? Eliminate the deficit, reduce and pay off the debt, and stop spending for anything not authorized in the constitution. We are doomed.....
Why are US officials making loans of taxpayer funds that don't exist, to benefit a foreign company?
Is that a stupid question?
I got a big green lougie for these mofo’s right here.
They can KMA right now.
Romney was right about one thing. the dems start with 47 percent who vote for freebies. They just need 4 percent more idiots, and there’s way too many.
And for those who worked their whole life and got Medicare, it will be drained more and more by obummer and demonrats and rerouted to medicaid.
Convicted...jailed...and, than, exiled.
Just Google "spain bankrupt due to green energy investments" and get 1.7 million stories about the fiasco.
Wow, there’s some interesting stuff under the Abengoah keyword
Great scam if one can get away with it. Under Obama, they will.
It is criminal what our government gets away with. Pissing away our money and future generations money on these idiotic schemes. Criminal.
received $2.9 billion in grants and loan guarantees through the Department of Energy
The “renewable energy” scam is a money wasting joke and the joke is on us.
“We CAN NOT survive as a country for much longer if it stays on the course it is on.”
This is why I was a Perot fan for a short time. I could just picture the little guy running around the desk in the oval office squeaking “Veto! Veto! We can’t afford this! Veto! Veto!!”
[We CAN NOT survive as a country for much longer if it stays on the course it is on.
America could be unrecognizable in 40 years.]
America could be unrecognizable in 4 months. (fixed)
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