Insanity is trying the same thing over and over again, and expecting different results
President Obama’s Taxpayer-Backed Green Energy Failures
- Evergreen Solar ($25 million)*
- SpectraWatt ($500,000)*
- Solyndra ($535 million)*
- Beacon Power ($43 million)*
- Nevada Geothermal ($98.5 million)
- SunPower ($1.2 billion)
- First Solar ($1.46 billion)
- Babcock and Brown ($178 million)
- EnerDel’s subsidiary Ener1 ($118.5 million)*
- Amonix ($5.9 million)
- Fisker Automotive ($529 million)
- Abound Solar ($400 million)*
- A123 Systems ($279 million)*
- Willard and Kelsey Solar Group ($700,981)*
- Johnson Controls ($299 million)
- Brightsource ($1.6 billion)
- ECOtality ($126.2 million)
- Raser Technologies ($33 million)*
- Energy Conversion Devices ($13.3 million)*
- Mountain Plaza, Inc. ($2 million)*
- Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
- Range Fuels ($80 million)*
- Thompson River Power ($6.5 million)*
- Stirling Energy Systems ($7 million)*
- Azure Dynamics ($5.4 million)*
- GreenVolts ($500,000)
- Vestas ($50 million)
- LG Chem’s subsidiary Compact Power ($151 million)
- Nordic Windpower ($16 million)*
- Navistar ($39 million)
- Satcon ($3 million)*
- Konarka Technologies Inc. ($20 million)*
- Mascoma Corp. ($100 million)
*Denotes companies that have filed for bankruptcy.
I note that the ones that got Billions are holding on until they can milk it dry.
But Steve, as is so often the case you miss the point. These investments were all part of the stimulus without which the Bush recession would have left nearly 7% of the workforce unemployed at this point in Mr. Obama’s presidency. It also redistributed these vast sums from the heinous Republican filthy rich to the merely very rich elitist sycophants who form the core of the president’s supporters. It’s also made a lot of money for bankruptcy lawyers, who are now seeing the wisdom of Mr. Obama’s ways, and whose futures are more bright than ever. Creating the perception that you are actually doing something productive, whilst transfering huge sums of other people’s wealth from your opponents to your supporters. What is making it big in politics for if not for that? .
Donks don’t regard those “investments” as failures. A lot of that money winds up indirectly in Donk campaign coffers and lining progressive pockets.
Paying off the bundlers
There just aren’t enough Ambassadorships to pay off all the big campaign contributors…..
So these Grants and subsidized loans are simply the 2nd line of payoff for “Friends of Obama”….. (FOO)
You will know the CAGW scam is over when Warren Buffet sells out his Antelope Valley CA Solar farms. (For explanation See comment at WUWT: link )
I would love to see the update of that file.
I agree with shazaamn and wyguy…the scam works just as intended- just another way to take money from people who work and give it to the Kleptocracy
Fortunately insanity is self-defeating.
The only question is the amount of damage to society before recovery begins!
Oliver K. Manuel
The insanity started back in 1913:
Federal Reserve Act gave us Fractional Reserve Kleptocracy.
The 16th Amendment allows the Congress to levy an income tax
The 17th Amendment established direct election of United States Senators by popular vote. Prior to that the senators were elected by state legislatures, giving the states some control over the federal government.
Add in the New Deal from FDR in the 1930s and the reinterpretation of the Commerce Clause from regulating commerce BETWEEN states ===> regulating the “tomato plant in your backyard.”
Notice politicians have not REPEALED anything. It is the slow creeping control of our entire lives.
Lincoln would have laughed himself sick at the idea of the federal government demanding people wear helmets and seat belts and banning smoking in public places.
Mr. Partisan.
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When the renewables boom in Germany got underway 10 years ago, investors were promised huge returns of up to 20 percent. It hasn’t turned out that way.
Last Thursday, wind-farm company Prokon declared insolvency, leading to an uncertain future for its investors.
http://www.spiegel.de/international/business/wind-power-investments-in-germany-proving-riskier-than-thought-a-946367.html
Same in Canada.
http://www.thestarphoenix.com/touch/story.html?id=9447530
Five years ago our “The One” was telling us Spain is the example to follow.
If you like your Spanish economy, you can keep your Spanish economy 😉
Spain has an Anti Economy. I know I live there.
The spanish government does everything possible to destroy it. That’s why the part where I live wants independence.
http://www.catalannewsagency.com/life-style/item/catalan-way-towards-independence-is-wall-street-journal-s-photo-of-the-year
http://youtu.be/iffJ1TgljE0
Certainly the average investor did not reap the huge profits — but I would bet that the politically well connected, those who have friends in high places, got the chance to invest early, to make those huge profits and to then sell out before the common investor knew what was going on.
But who would want an ambassadorship after Bengazi.
I wonder who Ambassador Stevens enemies were?
Lots of rumors flying
http://www.westernjournalism.com/the-scandal-that-will-bring-obama-down/
http://pjmedia.com/rogerlsimon/2013/05/21/pjm-exclusive-ex-diplomats-report-new-benghazi-whistleblowers-with-info-devastating-to-clinton-and-obama/
The first one in particular makes sense of what happened. Nothing else I have heard about the story does that. They ordered special forces to stand down as their people screamed for help. This story would explain why they might do that.
Yes that particular tale did make a lot of sense given the attack was September 11, 2012 and election early voting was as soon as mid October. For my state was Oct. 18. Also the early voting was announced far and wide influencing later voters. (I disapprove of early voting but not absentee)
Rasmussen was showing Obama 237, Romney 206 with 95 electoral college votes up for grabs just before the election.
The economy was morbund and most people knew it. ~40% strongly disapproved of Obama and less than 30% (22% to 28%) strongly approved in the summer before the election (Rasmussen again) To put it bluntly those numbers really sucked for a sitting president.
So yes I could see them pulling a stunt like this.
Reblogged this on SherayxWeblog.
The Feb. 3 issue of Fortune magazine has an article on First Solar. It explains how it differs from the many others you list, what its current business plan is, and how it was partially funded by John Walton, now deceased. The Walton’s still own 27% of the company. On an original investment of $176 M, they have sold $2.2 B of stock and still hold shares worth $1.4 B. The article seems realistic in terms of the problems still facing the company.
Given the ineptitude of the current administration, it stands to reason that they might let a professionally managed and honest company slip through their screening process.
Years ago the Keynesian form of economic policy took the stage in developed countries and the World’s brain-dead folks forgot the most important principle that governs worldwide economies, which is ” Sentiment”.
As such, those that contribute to society (working class and those with money to fund the working class) and those that do not, equally can vote for the policies or politicians that serve their wants and needs.
The sentiment of the working class has been eroded by politicians ever since 1936 here at home and that cycle is almost complete!
http://en.wikipedia.org/wiki/Keynesian_Revolution
John Maynard Keynes was a Fabian.
His friendship with Leonard Woolf and Bertrand Russell brought him into contact with the leaders of the Fabian Society, including Sidney Webb, Beatrice Webb and George Bernard Shaw. Keynes married Lydia Lopokova on 4th August 1925 and visited the Soviet Union on their honeymoon.
The goal of the Fabians has been to change the world to socialism via gradual methods instead of revolution. Check out The Real George Bernard Shaw for the plans they had in mind for the rest of us and then the ideas of Obama’s Science Czar John Holdern
The Fabians started the London School of Economics where Bill Clinton, Pascal Lamy (WTO) and Tony Blair teach courses. It is the training ground of world political, financial and industrial leaders like David Rockefeller and George Soros.
Reminds me of the repeated runs of GCMs, expecting better results. Never happens.
An example of geothermal deep drilling that inadvertently produced a good result.
http://domesticfuel.com/2014/01/30/first-magma-enhanced-geothermal-system-created/
Now an example of oil deep drilling that inadvertently produced a horrendous result.
Lucky it wasn’t high pressure lava.
http://youtu.be/n7uNotZTp7A
If you have not read E.M. Smith’s (ChiefIO) “Evil Socialism” vs “Evil Capitalism” do so. It explains why the USA has two parties ‘Progressive’ Democrats and RINOS and why no bad laws are ever repealed.
Thanks, Gail, for a reminder of our understanding of the reasons for government deception three years ago.
Doubts of intentional deceit have been replaced with certainty in these conclusions to my research career.
1. Synopsis: https://dl.dropboxusercontent.com/u/10640850/Synopsis.pdf
2. Chapter 1: https://dl.dropboxusercontent.com/u/10640850/Chapter_1.pdf
3. Chapter 2: https://dl.dropboxusercontent.com/u/10640850/Chapter_2.pdf
4. WHY ? : https://dl.dropboxusercontent.com/u/10640850/WHY.pdf
Our Tax dollars sitting in off shore accounts just waiting to support the Liberal Agenda.
Good stuff Gail. Good to see you over here.
People refuse to accept the heart our problems…the same kleptocracy suborned and corrupted the financial centers and has used debt money to purchase our governing institutions. The alleged enemy of left and right are one and the same. Communism, fascism, socialism, are just different names for the process of authoritarian collectivism