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The Cretin in Chief thinks an “Erg” is a small furry animal.
Take Beacon Power — a green energy storage company. We were surprised to learn exactly what the Energy Department knew before committing $43 million of your tax dollars.
Documents obtained by CBS News show Standard and Poor’s had confidentially given the project a dismal outlook of “CCC-plus.”
Asked whether he’d put his personal money into Beacon, economist Peter Morici replied, “Not on purpose.”
“It’s, it is a junk bond,” Morici said. “But it’s not even a good junk bond. It’s well below investment grade.”
CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES’ subsidiary Eastern Energy and Solyndra.
Obama Has No Credibility on Energy
Two consequences of Obama’s energy and environmental policies will be rolling blackouts in the eastern part of the country this summer due to the closure of coal fired power plants due to new EPA regulations and gasoline topping $4 per gallon nationwide. Americans should be outraged over both as they are the direct result of Obama policy failures.
When an Obama lie crashes in the forest of information and there is no MSM microphones willing to broadcast the sound did it really happen vis-a-vis public awareness?
The only shout of Timber! that we get from Obama's servile, complaisant, undistinguished media (SCUM) is "Oh, Gracious God, Thank You So Much! It’s such a blessing to have someone in the White House of your executive timber! Mr. President, thank you for taking time out of your day to lead us! Oh, gracious God, thank you so much!"
Brazil offshore oil loans Export/Import Bank
$→Brazil but OIL→China, ∅→↓↓↓
In my humble opinion Obama has no credibility on Energy or anything else for that matter. His only goal it seems is to Take America Down as fast as he can! I don’t know of a living soul who actually “TRUSTS” the man to do what’s right and best for our country. All he’s good at is giving Speeches. He could no doubt take it straight from the Communist Manifesto and make it sound so good the fools in this country would stand up for it and cheer. People had better start waking up and paying attention or we aren’t going to have a freedom loving AMERICA left at the rate he’s going.