Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.
I foresaw this spate of bad news last November. As I explained yesterday,
In a previous post, I compared renewable energy spending in the 2009 Stimulus to a green albatross burdening the President. I argued that Stimulus spending was inherently wasteful, because politics invariably corrupts government’s investment decisions. The result is taxpayers losses on bankrupt companies that existed only by the grace of political favoritism, a la Solyndra. I predicted the green stimulus would haunt the President, in the form of a slow drip public relations nightmare, as a litany of bad investments go belly-up in the run up to the 2012 elections.
Mr. President, are you still sure you want to “double down” on renewable energy giveaways?
RSS Updates 
RSS E-Mail Updates 
CEI.org 
OpenMarket.org 
WorkPlaceChoice.org 
DriveInnovation.org 
CEI On Demand Video 
Liberty Week Podcast 
← Previous Comments
Next Comments →
Yeah but it’s all Bush’s fault.
Have another cup of KoolAid and take your daily dose of Liberal Med’s. !!!
I think he is being sarcastic….
he meant to say……………….. obama said that its all Pres Bush’s fault
obama hasnt claimed 1 of his falures yet he has an excuse for every F^&k up he has made so far. to bad there are no successes. he has been bleach to america and every winner he has pick has been a loser. so that makes him the king of losers
Sarchasm >.<
yup
Sarcasm for those who fail to grasp wit…
You just don’t understand!!!!! Its Bushes fault
For those of you who would like to get rid of these fraudulent politicians, take a look at the Tea Party for a glimpse of what to expect. Politicians decried racism, made up lies and convinced the kool-aid drinkers their fellow citizens that were asking for less government were a bunch of white partisans. Government house is trying to divide us and it seems to be working, after all , they are the smart ones !
You don’t get it do you?
Racist!
my gosh, saying the tea-party is racist, what are we watching Soviet Propaganda TV. I am far from a tea-partier, but really the entire institution is racist?!? How did i not know that such a well known organization was entirely made up of racists (thousands of people). Please, Obama’s green funding has failed, don’t try and change the topic and point the finger else where by bring up the tea party. Also, many could/would/possibly should argue the left is the one really trying to divide us, with the whole class warfare thing (99%, the 1% is full of terrible people who are terrible because they worked hard to get where they are). just one possible argument…
Claiming “Racism” is another corrupt liberal boondoggle industry… justifying the also corrupting “Community Reinvestment Act”… which also leads back to the corrupting Democrat party machine. Naturally the statists are upset about the Tea Party critique of this civilization destroying philosophy. The left’s brown-shirt division, the Occupy movement is turning violent as we speak, in defense of an all powerful state. It has ever been thus for the left.
No jossch. The smart ones are the illegals from all countries who come here, and here I set criticized for not being able to enjoy the holiday festivities of the up coming Jihad no the Latinos taking over the country. The illegals are the smart ones.
Take another cup of your KoolAid and cash your check from the Liar in Chief’s ReElection Campaign for web posting !!!
I believe that the party doing the dividing would be the democratic party, let’s be honest here. Neither party is faultless, but the purpose of a budget is to prevent reckless spending, is it not?
Then that must be the reason for all this nonsense. Listen
1- Clinton passed NAFTA – GOOD PAYING JOBS went bye bye
And so did those tax dollars
2 – Bush started 2 wars which after hiring independent contractors like Halliburton to clean up our mess over seas our debt began climbing.
3 – just before Obama took over we had less than 8 trillion in debt, now we have over 16 TRILLION DOLLAR$$$$$ of debt
Pssssst hey guess what? That’s MORE DEBT than ALL THE PRESIDENTS IN THE HISTORY OF THE USA COMBINED!!!!
I think an investigation into this is going to be absolutely necessary to get to the bottom of this.
http://www.theblaze.com/stories/get-a-load-of-all-these-programs-the-feds-are-unofficially-funding-this-year/
This will help clear your mind.
The green energy “investments” were merely a diversion. The bulk of the porkulus was to rob the treasury to pay those groups back who got Obama elected in the first place. And to keep them “employed” long enough to try to elect him again in 2012. Obviously much of that money has already been spent, so Obama tries to grab more by whatever means he can. His time in the White House is running out.
You nitwits in the media need to admit your bias and start to INVESTIGATE these failures like you would if your beloved Obama was not president. This idiot needs to be exposed and reported on a daily basis like you do his oponents. This country depends on it.
Agree! Problem is that our media colludes in pushing a liberal ,non-American agenda. We no longer have a free press!
The Imposter in Chief has an impeccible record on just about everything he has put a finger on. Pretty much all of his ideas or projects have turned to warm effluvium.
The guy is a total abject FOOL of the first order.
And the foks, as Orielly calls us, know exactly what is going on. The media knows too. Everyone knows the Emporer is running around nekkid. Yet his approval is supposedly just below 50%! No it isn’t. Nor is unemployment falling. Nor is any nation on the planet afraid of him or us. Nor is W the Food Stamp President and on and on and on… It is all lies, on more lies and still more lies.
He wants to make America more prosperous, more productive while creating more wealth. In the next sentence he is determined to eviserate the rich. Excuse me?
He is supposed to be extremely intelligent. Yet his college grades are super, super secret. Why?
He is simply a mean spirited little man with big ears who wants only yes men around him just as Hitler did. He can not cope with being challenged, or second guessed or found to be wanting or called out.
His whole administration has been a sick, very expensive, punishing and destructive, lurid and sad experiment by someone who appears to be for all the world really a 10th grade drop out.
America has had bad presidents. But this guy knocks it out of the park.
I don’t know if it’s possible to love a cyber stranger, but I really do love you for those comments.
I’m curious how the failure rate of these investments compares to venture capital firms heavily invested in green technologies.
I wonder what Romney would have done with these “green” companies. Obama never had a real job in his life. Always worked for the Chicago Machine in some government hand-out. His advisers are all from the public sector. Not a worker-bee among them. No wonder they can’t choose winning investments. They should have at least asked Jim Cramer for his opinion before dumping billions into the toilet.
Good point. If Bain Capital invested in companies that all went belly up and fired their workers then Obama’s green investments have more than kept up with Bain.
They don’t compare. Venture capital uses the funds of willing investors while Owebama is pissing away taxpayer billions…
A very good question that deserves serious investigation.
The first line of inquiry would need to be determining whether any subtantial “venture capital firms heavily invested in green technologies” even exist in the first place. The answer to that could be illuminating in itself.
Are these “green” technology outfits going to the Porkulus for capital (loans, really …) because it’s being made available at better terms than they can obtain from venture capitalists, or because they’re unable to obtain the capital from private finaciers at all?
Jack,
“Incentives and profits” sounds great, but isn’t that kinda anti-socialism?
You’re right! What was I thinking? We can’t fundamentally change the country with ideas like mine. Please forgive my forages into logic.
Where have all the dollars gone?
Kicked back to the DNC, most every one.
When will we ever learn? When will we ever learn?
No legitimate business needs a government pimp.
Tired of hearing of the so called”Green” companies, money “ours” should be sent where it would count!! The selective process is totally INSANE!
“No legitimate business needs a government pimp.”
Ding Ding Ding!
We have a winner folks!
That should be carved in stone on every government building.
Democrats used to be called the party of tax and spend. They have added a new dimension…Tax, Spend and Debt.
Reagan said, If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.
John Adams said, “There Are Two Ways To Enslave A Country…. One Is By The Sword. The Other Is By Debt.”
Cogito by leaving out a few words you create a lie.
What Reagan DID say is:
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. “
By leaving out a phrase, you reverse what Reagan DID say:
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”
Please don’t take things out of context.
Can any reader or blogger name an alternative energy that can produce useable electricity 24 hours per day without using gas or any other natural source ? Didn’t think so. Without a storage capability for electrical energy in the multimegawatt range there is no reasonable use for alternative sources of energy; the cost per kW is simply too great to be competitive with conventional sources, such as gas, coal, nuclear, hydro or naturally ocurring hot water sources. Environmental slugs, just get real and go away. You are doing this country and economy a disservice that borders on lunacy.
The answer is obvious.
Nuclear.
The only green carbon-free technology capable of powering a modern society.
Rational logical says all who are truly concerned by AGW should also be strong nuclear energy supporters.
Why is this not the case?
It’s called anaerobic digestion. Of course it’s not glamorous enough for you libtards though. And the smell is horrible. But it works.
The idea of loaning this money at all is ridiculous. How about something like the “Green Prize” a la “X Prize”? Show us your sustainable technology and collect a bounty. Show us the LED light bulb that fits in a 75 watt socket and produces soft light and get a prize. THIS is how we should fund things – with payment ONLY after something real exists. Large companies could chase these prizes and small companies could cobble venture capital to chase them. Let the risk be on the companies racing, not the taxpayers.
To LOAN money to companies that the market cannot, would not support on their own is not insane. Not a single one of these companies existed to make a product. They were NEVER going to make a product. They were money laundering fronts from beginning to end, and if you follow the money, you see the trail. They are all quid pro quo for Obama donations or they now intend to siphon the money to the Democratic party. The following analogy applies – Cheney : Haliburton :: Obama : Solyndra … and the timing is worse for Obama.
Seems to be pattern here barrys friends and donors are getting fat off of going banrupt on green enrgy seems its a scam and were paying for it
FDR made the same classical mistake and made the depression last 8 more yrs than it had to
and the truth comes out. at least some americans have a IQ above that of a house cat
Terrorists are being brought to justice in criminal courts these days…
Al Gore and the global warming alarmists such as left wing politicians, pseudo scientists, journalists, the Hollywood idiots, have been inflicting psychological terrorism upon a whole generation of children all over the world for the last 20 years.
These charlatans should be brought to justice as the perpetrators of the biggest scam in the history of this planet.
The social,financial and psychological damages that they caused are beyond comprehension.
No criminal organization in history has ever come even close to having such a dezastruous impact on so many people, for such a long time, and make so much money in the process.
They should not be permitted to get away with it.Hundred of billions have been wasted on a fraud, social and economical policies have been altered based on a fraud….the moral authors of this fraud should be in jail for the rest of their lives and their fortune seized.
hmmmm…Chavez wants good relations with US “if” Obama elected…
“Venezuelan President Hugo Chavez said he wants to “shake hands” with his US counterpart, Barack Obama, and have “good relations” with Washington “if” the two leaders are reelected this year.”
” if the two leaders are reelected this year”
IF is the word…. seems like even hugo is worried huh???
Funneling tax dollars into these ‘green’ start-ups was a sop to the Environmentalists that voted for Barry last time. All these alternative energy ideas are so many pipe dreams. Coal, oil and nuclear reactors can supply our energy needs for centuries to come, not some windmills or solar panels.
Socialism works great until The Liar in Chief runs out of everyone else’s money !!!
Adds a whole new meaning to the term “Going Green”, as in grabbing all of the $$$’s these companies can while the taking is good under The Liar in Chief !!!
I hear about these Fed. Govt. funded Co’s. going broke, but I have yet to hear anything out of Congress or A.G. HoldHer about prosecuting the guilty parties !!!
It would be nice to see a public viewing in the Media what the paper trail was and who was involved in authorizing the distribution of this $$$’s !!!
Do I have any takers on whether THAT will EVER happen ???
If things get too HOT and the stink gets too close to the Oval Office, The Liar in Chief will just issue a Presidential Pardon to the guilty individuals involved !!!
Please wake up people!
So is Gr$$n energy supposed to reverse global warming? Squooze me while I chuckle. What exactly did man do to cause global warming after the last ICE AGE? – because where I’m at was about 100 feet of ice over my head.
And how come no GW/carbon footprint activist scream about the tires burned during protest over in the middle east?
There are a number of different ‘green’ technologies that work admirably. Without exception, they have been acquired and sequestered into archives, never to be seen again. Inventors and developers all face the same bleak truth: develop something that works and you will either be bought out and sworn to secrecy, or you will be killed.
This sort of thing is very typical of the left. It just demonstrates how little they understand about the way things are created, developed, and brought to market.
Liberals believe that complex technology can be forced along in it’s development simply by throwing a bunch of government money at it. They believe the same thing with regard to any other problem they encounter. Whatever the question or challenge, the answer is one-size-fits-all: more government, more control.
Top-down government control being the universal solution to any problem is simply how they view the world, and to their minds such control has no limits in what it can accomplish if simply given enough power and resources.
But they are being checked, and checked hard, on a daily basis. BY REALITY.
Yeah,
Thank God we didn’t use government funding to try to get to the moon or, heavens forbid we used it to stimulate oil or coal production. Where would we be now if we had. I think I’ll just be thankful for the dirty putrid air I have to breathe along the cancer allies where the refineries spew.
I think I’ll drive around today in my 17 mi/gal Hummer after I spend $90.00 filling it up. What a great and progressive country we’ve become.
AND OF COURSE, WHO PICKS UP THE TAB FOR LOWBAMA’S GOOFBALL IDEAS, (ALL, EACH AND EVERY ONE, CONTRIBUTORS TO HIS CAMPAIGN) SUCKERS LIKE US, THE AMERICAN PEOPLE, THE TAXPAYERS. LOWBAMA HAS GOT TO BE DEFEATED. HE IS DESTRUCTIVE. HE HATES THE “REAL” AMERICA. HE HATES US, THE “REAL” AMERICANS. HE THINKS AMERICA IS NYC, LA, CHICAGO. NOT EVEN CLOSE. LOWBAMA, JUST GO AWAY. YOU’RE ANNOYING. YOU’RE NOTHING BUT A WHINY, ARROGANT, CONCEITED SNOT AND WE WANT YOU GONE. YOU BECOME MORE LOATHSOME BY THE NANNOSECOND.
Who can we blame but ourselves for putting the Communist Clown in the White House. We voted this Marxist in .Were you listening to this fool before 2008 ,I don’t think so. Three years later Obama has accomplished a whole lot of damage to our freedoms and liberty to make this nation fall down on it’s knees and we still have ignorant people telling use what a fine job he’s done. Truly he has done a lot of damage to our nation but we have one final day to get this Communist out in November, 2012. Let the people of this nation show the will of our people will rise and defeat the dangers of Communism. America will defeat the 3 headed dragon if we all stand together.
Probably works like so…
-Obama supporter gets money for 2008 campaign.
-Obama supporter gets mega-million pay off using taxpayers money from now President Obama in the form of a grant to start a “Green company”.
-Obama supporter’s “Green company” donates (taxpayer) money to Democrats and Obama re-election campaign.
-”Green company” goes bust.
-Obama re-election campaign has funding.
- Obama blames Bush for “Green company” going bust.
- Media ignores events or refuses to investigate.
Well, Obama keeps saying it’s all Bush’s fault (look at his interview on ABC w/Diane Sawyer). And if Obama says it’s Bush’s fault then it must be true. I mean, come on, Obama doesn’t lie. Only Republicans lie……….(I’m voting for Ron Paul)
William Yeatman is on the same page as Peter Schwiezer who wrote the book “Throw Them All Out”. Every read it? You should. And when you do you will definately be in this same camp. Politicians enrich themselves with our tax money. Obama knew exactly what he was doing with the trillions he has spent of our money….the vast majority of that money was meant to go to people that would help him get re-elected. Pure and simple. I say “Throw Them All Out!” I used to be a Romney supporter, but he has disappointed me greatly. And Newt, well, he’s the same kind of corrupt politician as the people in office today. And Ron Paul….if he weren’t so absolutely radical on a few things, I’d be out there trying to get him elected. As it is, I am still going to put my support behind him because he is the only one I trust to get rid of the corruption in Washington.
I really like the one that Gore and a partner invested 15 mil and took out 60 before the company went bankrupt!
It’s not easy being green.
Masterful illiteration!
Masterful alliteracy!
The eduction system in our country is producing more waste and garbage than any other entity. The students are not being readied for life’s challenges. The students are not going farther than those of us who studied without all of the tech advantages available today. In other words, we use all of our technological advantages to make it easier on ourselves,rather than advancing our society.
“The real destroyer of the liberties of the people is he who spreads among them bounties donations and benefits.”
Plutarch
Green Energy????/ If science can’t prove that it will work and compete in a free market. And private investors know enough not to throw their money away. The next step is to have the lobbyist go to the Government and force the tax payer to invest in a Greed/ Green project. The project does not have to work, it only needs to get it’s hands on the Government money long enough to give it a look as if it’s going to help our environment. The owners of the project burn thru the money and line their pockets and go bankrupt. As long as the lobbyist are allowed to do this the cycle will continue.
This kind of wasteful spending needs to stop. Government seems to encourage corruption and misuse. The American people are now aware of it and Fall 2012 is coming.
Well said.
OWS missed these pampered puppies
“I predicted the 2010 Tsunami…I am now going to predict another Tsunami for the worthless Marxist Democraps….here’s why: Democrats are pinning their hopes on making a comeback after their disastrous 2010 election results, and they have selected 60 Republican-held “battleground” districts to try to make that change. Well, they can HOPE for CHANGE in the results all they want. According to a Democrat pollster, things look even worse now than they did in 2010. From National Journal comes the news. One of the Democratic party’s leading pollsters released a survey of 60 Republican-held battleground districts today painting an ominous picture for Congressional Democrats in 2012. The poll shows Democratic House candidates faring worse than they did in the 2010 midterms, being dragged down by an unpopular president who would lose to both Texas Gov. Rick Perry and Mitt Romney. Pollster Stan Greenberg released the poll with some sugary spin for Democrats, downplaying the results by arguing that the president’s jobs plan will improve the party’s fortunes. How’s that working out for you? Yeah, that “jobs” plan is going over like a lead balloon as Senate Democrats are loudly declaring “No, you don’t”. And those lead balloons tend not to bounce all that well. But the numbers – at least right now — are troubling for Democrats, and echoed some of the takeaways from the GOP special election upset in New York City . Instead of an overall anti-incumbent sentiment impacting members of both parties, voters are taking more of their anger out on Democrats. When voters were asked whether they’re supporting the Republican incumbent or a Democratic candidate, 50 percent preferred the Republican and just 41 percent backed the Democrat. Voters in these districts said they were more supportive of Republicans than they were during the 2010 midterms, when 48 percent said they backed the Republican candidate and 42 percent said they backed the Democrat. (Republicans won 55 percent of the overall vote in these 60 battleground districts, while Democrats took 43 percent.) In 2010, Republicans netted 63 House seats – their best showing since 1948. So, according to a Democrat pollster, the voters are two percent more likely to vote for a Republican and one percent less likely to vote for a Democrat now than in 2010, the year of the TEA Party-lead Republican tsunami. No, the Democrats will have to forget about trying to win back seats and start to figure out how to save what Democrat seats they have, because 2012 is lining up to be another year of across-the-board Republican gains, led by the TEA Party/Conservative grass-roots wave.”
Green energy is really a ploy by the elites to redistribute money from the taxpayers and spread it around to companies that will in turn “contribute” it back to the source. The source being of course Obama, it is a scam of the greatest proportion and is of course a high crime, but will anyone call him on it. Politics and business always make strange bedfellows.
If any of you knew much about what is going on you’d realize this , he is purposely bankrupting the country. In order to “fundamentally transform “the country he must first tear down all the old forms in order to rebuild it in his Marxist dream . He’s following the plan .
Obama is dangerous and must be dumped at all cost .
http://www.chicagotribune.com/business/ct-biz-0127-electric-car-future-20120127,0,4855403.story
“Indiana’s foray into electric vehicles is a cautionary tale for states in hot pursuit of high-tech manufacturing jobs. Think’s story illustrates how politicians so badly wanted to stimulate job growth that they showered it and the battery supplier with tax breaks and incentives while at the same time failing to determine whether there was a market for the car: a plastic two-seater with a top speed of about 65 miles an hour and a price tag approaching $42,000.”
“failing to determine whether there was a market for the car”
No kidding !!!
That should NOT be done with taxpayer dollars.
I suspect there will be more “Green” fails before the election and I hope it is a big stinky albatross on NOBama
Lookout, here comes even higher energy prices, got to make the green energy work…
I think the article has probably maligned quite a few 10th grade drop outs. I know a couple who are quite successful in business and life in general. What the author has done, which many others are also guilty of, is equate intelligence and ignorance. As smart as Obama thinks he is, he fails in leadership because he doesn’t want to understand free market principles. Choosing to not recognize this makes him ignorant
Until the technology is there, and as of now it is not. We just can’t be spending money willy, nilly on companies like these. Most of these companies are getting paid back for their support for the president, and that is no way to spend on future technologies.
The money needs to go to legitimate companies that are actually working on solving the energy problem and not because of their political affiliation.
Until we as taxpayers demand that our money is spent wisely, this sort of political game is going to keep happening. We need to wake up and stand up for ourselves and not let them spend our money for their own political gain.
It’s up to us to put a stop to this. How? You may ask. Vote them all out and start over, that’s how. They all need to go.
“The money needs to go to legitimate companies that are actually working on solving the energy problem and not because of their political affiliation.”
No, it does not.
Beyond the basics (the military, the federal court system, etc.) the feral goobermint has no business spending the citizen’s money on ANYTHING!
The idea is to drain our economy down to 0 and he is achieving it one day at a time. Soon he will have depleted our country of money and then the Progressives will rebuild it the way that they see their vision of America to be. Has anyone read Rules for Radicals? What does one think community organizers read for their bible? Has everyone forgot what he said the week before he became President. ” We are days from fundamentally changing this country” and everyone stood there and cheered for him. Then his wife came out and said, it will be painful but it will be for your own good. Got exactly what you voted for. Look at his czars, they are running the country not congress.
“They all need to go.” And now, we have the chance in November, don’t let it slip by without expressing your thoughts and views. Forget blue or red, liberal, conservative, democrat, republican, or libertarian, vote because you used your own mind and did not let someone make your mind up for you. Be a human and use the brains that God gave you.
I bet no investment companies are looking to hire Obama after 2012.
A “green” topic no one is talking about (and a prof in college back in 1998 brought this to light):
- electric vehicles create more pollution than gasoline powered vehicles, and it is concentrated pollution: the power to run these vehicles comes from power plants, which burn coal. You’ve simply consolidated where the pollution occurs, but not dealt with the pollution itself.
Of course, that’s why Mr Obama was trying to require scrubbers in the power plant industry.
Der ObaMeinFuhrer has succeeded, the companies were started with our money and folded their tents up after the sham was discovered and they left with all of our money. This money will later turn up in battleground states as throw around money.
Its’ up to voters to usher the ObamaFail machine into history. If the losses for the DNC are not crushing and all encompassing, expect this methodology for stealing in broad daylight to be the norm.
← Previous Comments
Next Comments →
Comments on this entry are closed.
{ 44 trackbacks }