Energy Department Prepares To Throw More Taxpayer Money Away On ‘Green’ Loans

Posted on April 11, 2012 by

1


Here we go again!

Andrew Restuccia reports at The Hill:

The Energy Department said Thursday it expects to begin tentatively approving new taxpayer-backed loans for renewable energy projects in the coming months.

The announcement comes about seven months after Solyndra, the California solar firm that received a $535 million loan guarantee from the administration in 2009, went bankrupt, setting off a firestorm in Washington.

Read more at The Hill

The list of solar companies that have ALREADY gone belly-up, taking billions in taxpayer money with them, is already lengthy:

This is just the short list of energy companiesbacked by President Barack Obama that have failed.  President Obama has wasted tax payer money on these companies and he wants you to re-elect him so he can give you more of the same.

Being the ideologue that he is, he WONT back down from funding more fake (meaning they have never proven themselves profitable or actually have made a product that works)

Can the United States of America REALLY afford FOUR MORE YEARS of this president?

List Of Failed Green Energy Jobs – By Obama

  • Solar Trust of America: FAIL
  • Bright Source: FAIL
  • Solyndra: FAIL
  • LSP Energy: FAIL
  • Energy Conversion Devices: FAIL
  • Abound Solar: FAIL
  • SunPower: FAIL
  • Beacon Power: FAIL
  • Ecotality: FAIL
  • A123 Solar: FAIL
  • UniSolar: FAIL
  • Azure Dynamics: FAIL
  • Evergreen Solar: FAIL
  • Ener1: FAIL

The Daily Caller reports that the DOE funded these loans even though the firms had ‘junk bond’ ratings:

The U.S. Department of Energy backed hundreds of millions of dollars in loans for discredited solar power start-ups whose corporate debt was already sullied with “junk” ratings by Standard & Poor’s and Fitch Ratings, two of the world’s leading credit agencies, a federal government investigation has shown.

Despite the finding, Energy Secretary Steven Chu vigorously defended the ethics of his agency in a hearing last week held by House Oversight Committee Chairman Rep. Darrell Issa.

Details are emerging this week about the Energy Department’s practices that indicate the agency spent a disproportionate amount of funding on these tainted solar power projects.

Read more at the Daily Caller

Some people just can’t accept reality and refuse to learn.   If only their stupidity affected just their OWN money instead of MINE!

Cross posted at ThoughtsFromAConservativeMom.com

Dept. of Energy: We’ve got a little more ‘green loan’ money to hand out — who wants it?

Can President Obama Name ONE Clean Energy Success?

Obama DOE: Our $9 Billion “Green Energy” Program Created Up To 75K Jobs! Stark Reality: At A Cost Of $120K Per Job

After Blowing $6.5 Billion On Failing ‘Green Energy,’ Obama Guarantees More Taxpayer Loans

Obama was warned of alternative energy’s high costs & limited benefits

Solyndra: Obama Administration Used Federal Loans to Reward Campaign Donors, Allies

Report: 80% of DOE Green Energy Loans Went to Obama Backers

Advertisements
Posted in: National