‘Rrrraaacist!’ I know, I know. Eraserhead?
Fresh off the ‘green energy’ stimulus rotation we discover another bumper crop of Obama-laced bankruptcies — on the same day, I might add, our God of failed ‘green energy’ announced more stimulus for ‘green energy’ companies.
God Of ‘Green Energy’ Bestows $118 Million In Taxpayer Funds Upon Another Bankrupt ‘Green Energy’ Firm
(Fox) The parent company of an electric car battery maker that received a $118 million grant from the Obama administration filed for Chapter 11 bankruptcy protection on Thursday.
New York-based Ener1 said it has been affected by competition from China and other countries.
Ener1 subsidiary EnerDel received a $118 million stimulus grant from the Energy Department in 2009, and Vice President Joe Biden visited the company’s new battery plant in Indiana last year.
Ener1 is the third company to seek bankruptcy protection after receiving assistance from the Energy Department under the economic stimulus law. California solar panel maker Solyndra Inc. and Beacon Power, a Massachusetts energy-storage firm, declared bankruptcy last year. Solyndra received a $528 million federal loan, while Beacon Power got a $43 million loan guarantee.
Solyndra, of Fremont, Calif., was the first renewable-energy company to receive a loan guarantee under the 2009 stimulus law, and the Obama administration frequently touted it as a model for its clean energy program.
Since then, the company’s implosion and revelations that the administration hurried a review of the loan in time for a 2009 groundbreaking has become an embarrassment for President Barack Obama and a rallying cry for GOP critics of the administration’s green energy program.
The chairman of a House subcommittee that is investigating Solyndra said the latest bankruptcy showed that the administration’s clean energy program has failed.
“Unfortunately, you can now add Ener1 to the growing list of failed companies that went belly up after hundreds of millions of dollars in administration backing,” said Rep. Cliff Stearns, R-Fla.
“One bankruptcy may be a fluke, two could be coincidence, but three is a trend,” Stearns said. “Our investigation continues, and we are working to ensure taxpayers are never again stuck paying hundreds of millions of dollars because of the administration’s risky bets.”
Meanwhile, on the same day back in Aurora, CO…
The God Of ‘Green Energy’ Promises More Taxpayer Funds For ‘Green Energy’
(Denver Post) In his speech at Buckley Air Force Base in Aurora on Thursday, Obama repeated the goal he set in his State of the Union address — 10 gigawatts of renewable-energy generation on public land.
Yet even as the Obama administration is approving projects, the federal financing programs that are key to their construction are fading.
“Congress needs to act,” Obama told about 400 invited guests gathered in a spare hangar. “They need to pass clean-energy tax credits.”
Michelle Obama – Huge windmill fan. Huge.
A U.S. Treasury Department loan and grant program ended in December, a production tax credit for wind farms runs out this year and a similar credit for solar is set to end in 2013.
“We need Congress to move on clean energy,” said former Gov. Bill Ritter, now director of the Center for the New Energy Economy at Colorado State University.
“But in an election year, I’m hearing that there is little chance,” Ritter said after the speech.
The administration is well on the way to meeting his federal-lands target with approximately 27 wind, solar and geothermal projects already approved and 17 projects on the 2012 federal priority list.
“There are enough projects approved and in development,” said Alan Quick, a spokesman for the Bureau of Land Management, which approves federal leases for energy projects.
Still, energy analysts and a wind industry spokeswoman caution that without financial supports, installations will falter.
‘Without financial supports, installations will falter’?! Hey dummy, they’re failing with ‘financial support!’
DictatorSpeak – Obama, ‘The idea of doing things on my own is very tempting’: HERE
Solyndra ‘Green’ executive: $100,000+ in Obama donations and 20+ White House trips: HERE
Obama seeks $53 billion to fund ‘secretly’ bailed out GE for high-speed rail: HERE
Chevy Volt fires: Feds stop investigating themselves: HERE
Wow! 281 Chevy Volts sold just last month – thank you Mr. Obama!: HERE
*hitty *hitty Bang Bang: HERE
GM recalls 154,000 Chevys: HERE
Bankrupt-Bailed-Out-Government-Owned-Tax-Free-Overseas-Job-Outsourcing GE Tells American Business Owners, ‘Stop Complaining About Big Government’: HERE
Blah, blah, blah…: HERE