Obama Administration Rushing to Approve New ‘Green Energy’ Loans
by PubliusWhat could go wrong? From The Hill:
The Energy Department announced Wednesday that is has finalized more than $1 billion in loan guarantees for two separate solar energy projects.
The decision comes several weeks after Solyndra, a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009, filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.
DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.
The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.
“If we want to be a player in the global clean energy race, we must continue to invest in innovative technologies that enable commercial-scale deployment of clean, renewable power like solar,” Energy Secretary Steven Chu said in a news release. “Solar generation facilities, like the Crescent Dunes Solar Energy Project, help supply energy to local utilities and create hundreds of good, American clean energy jobs.”
Read the whole thing here. The most recent loan works out to about $1.1 million/per job. As the article notes, there are almost another dozen loan applications pending. The administration will have to rush to approve these loans before Friday’s deadline. Can’t imagine any other loan programming rushing its application process that inspires less confidence than this one.
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66 Comments
Let me get this straight. The taxpayer pays to get this technology then has to pay for not only the electricity it produces, but to pay local and federal taxes on that electricity as well?
They can't be friggin serious! $1.1 Million per job?
Mr Issa where are you?
Whiskey Tango Foxtrot!!! Again? What part of FAILURE do these morons not get? They have to be trying to wreck the country on purpose. There can be no other explanation for it.
It started with Acorn, then SEIU, then "Operation Fast & Furious", then Solyndra and now Obama is going balls out to please Nancy Pelosi and her clan. Where is the MSM and the hypocrites on the left?
http://www.thegatewaypundit.com/2011/09/more-cron...
Insanity plain and simple. This just another boondoggle. How much did these companies donate to the Democrats.
Nothing like transfering wealth from the poor to the wealthy under the guise of helping the middle class…
This is exactly why the economy won't get better, and why Obama will be so easy to beat in 2012.
He. Can't. Stop. Being. Marxist.
He just can't stop. Wealth redistribution is what he believes. Community agitating is what he knows. Venture socialism is what he does.
Sounds about right. Pay for the research, pay again for what the research produces, and pay again so the govt can tax it.
What would the American people do if they ever toke a minute to figure out how much they actually pay in taxes to the various govts.
If Congress had any guts, they'd be serving indictments on this entire regime.
It will take YEARS to undo the damage the Kenyan Usurper and his maggots have done to us.
The BRIGHT SIDE is that Democrats have been relegated to the status of squished dog crap by Obama and his myrmidons.
http://theantiliberalzone.blogspot.com/
THE ANTI LIBERAL ZONE
If at first you do not succeed try try again and hope for different results
I expect to see a whole lot more of this type of behavior, especially as it becomes increasingly obvious that Obama and the Dem majority in the Senate are toast. It's like the last minute bidding for pardons conducted by Bill Clinton, only its billions of dollars at stake this time.
Crony capitalism? Nay, crony socialism.
Don't just say NO…say HELL NO!
"Daddy, did you spend all the money yet?"
And that is exactly right.
Good one.
How long are we going to let Obama continue "buying" votes? How and why is Congress allowing these misappropriation of funds to continue? The Energy Dept. has to go!
Why the he|| should these phuckers care? It's not like they'll be employed in a few years anyway.
Bullseye and nice description, heck a liberal might even understand it the way you describe it…how do we get their heads out of their …..?
Agreed, how many boots up the republicans butts will it take? Oh yeah elections coming up, can't do anything right that the MSM could spin as extreme. Can we start electing real Americans someday?
Also, how much money do they have personally invested in these? I'm beginning to think these companies are just vehicles for income redistribution and nothing else. Like the shoe repair shop in my old neighborhood that was a front for the local bookie. Green companies are the bagmen of the Left.
My God again..Does this guy never learn…….I guess hoping they don't go belly up until after the election…Time to check how many in these companies gave contributions…Start locking people up…just dayum
Well Solyndra worked so gosh darn well let's rush to do some more. I guess I'll read about Cape Wind getting half a trillion next week. That will be swell….when the ocean tears it up in a nor'easter!
Overwhelm the system and bankrupt the country, it's all in their devious plan. America needs to wake up.
Try to get a 200K mortgage. Yet this dough gets blown out to political donors despite the unconscionable cost per job. The report does leave out that they pay 1.1 M per TEMP job. The social and economic devastation wrought by these bad investments actually weighs in favor of burning all this money in Washington D.C. before more harm is done by it.
I hope you're not coming to this realization just now. This has been the plan all along. My dad told me before he was elected that Obama was a communist and would do everything he could to destroy this country.
My dad would know a commie rat when he sees one, he escaped Cuba almost 50 yrs ago.
Completely agree! They are one-trick ponies. The Dems have been infested by far-Leftists, and now must live with the now visibly obvious results of their bad policies. I agree that this stuff will continue.
Very true Gunny, It will take decades (hopefully) for the Dems to recover from the disaster of the worst POTUS ever.
With any luck all the RINOs will go with them.
Wouldn't it be cheaper to give $1,145,000. oo to each of the workers who might benefit from this project so that a couple of them could get together and start a business that might actually sell something that doesn't need continual subsidies from the government?
Will the project include a diesel powered generator that will produce power during the night? You know, like the Spanish did to pump up their output numbers?
Wonder where that Billion is coming from for The Ones reelection campaign?
Why does a solar energy plant need loan guarantees anyway? I thought the technology was proven? If it works there should be lots of investors lined up to hand out their money, no?
Especially since the meager power they do produce HAS to be purchased at a premium!
WTF America? Somebody needs to stop this. Did we even find our where the over half a billion dollars from Solyndra went yet? We need to march into Washington D.C. & remove these people before there is nothing but dust & cobwebs at our family tables. From the mouths of families, this money comes. I tell you it's time to fight! (peacably march, peacably remove) FIGHT!
Why is he allowed to do this? Where are the checks and balances? When will be be impeached? Good money after bad and everyone looks the other way….
Good point.
It is actually the U.S Treasury's private Federal Financing Bank that continues to hand out the $$ at the instruction of this administration. Little Timmy Geitner is helping his master after he helped his buddies earn 9 figure bonuses from the bailouts & QE1,2. I agree the DOE must go.
Life after the Solyndra rip off and now we have this going down:
http://weaselzippers.us/2011/09/28/because-solynd...
http://www.thegatewaypundit.com/2011/09/more-cron...
Solyndra failed, but this time it'll work! Oh, and oil is evil!
Here's an idea, since the Department of Energy seems Hell-bent on doing anything short of generating energy using proven methods, let's defund it. At least that way, it can't waste our money.
This marxist turd is doing exactly what he promised to do; fundamentally tranforming America into a statist socialist dictatorship, suspend elections, redistribute the wealth, and make himself and his cronies rich. Wake up !!!!!
Of course the Owebaminator is rushing to approve new loans – just like he's rushing approval for yet another
Scamulus"jobs bill." That's been the hallmark of Junta Uuhhhbama: Keep repeating faceplant FAILS over and over again, no matter what.Oh goody more loans to enable the lie perpetuated by Al I need more money Gore… bend over America! Does it feel good? I mean its green, green is healthy and good might as well take it up the azz!
If you're reading this you are the resistance
"Pass Obamacare…now"
"Pass this bill…………now"
"Approve this loan….now"
Does anyone see a trend here?
This is theft, plain and simple!
"Call now – operators are waiting"
"If the light on the screen is flashing – CALL NOW – don't wait – you have 15 minutes to call"
"If you call now we will double your order….."
"Free Shipping to all those who call in the next 10 minutes…."
I just finished a demand letter to John McCain to either stop this, or I will start his recall campaign. I would suggest that everyone do the same for their representatives. I would also include McCain on their list since he gave us Obama with his halfhearted run for the presidency. It is time to stop this madness, and if they are not willing then it's time for them to go!
All green energy loans should be halted until a complete investigation in to who benefited from the last one and who will bebefit from these new ones.
The company that received the 737 million Tonopah solar/SolarReserve, Nancy Pelosi's Brother in law happens to be the #2 man at PCG.
PCG is an investment partner in SolarReserve.
Another Company Brightsource received 1.37 BILLION on Kleinonline.com, Aaron Klein writes Obama's Commerce pick awarded 1.37 Billion in STIMULUS Funds. Chairman of Brightsource John Bryson was nominated by Obama to head the Commerce Dept. Bryson Co founded an enviromental activist group that is a member and funder of the Apollo Alliance. Apollo is run by Socialists and Radicals, including Jeff Jones a founder of the Weather Underground a domestic terrorist organization..Obama's friend Bill Ayes was also a member of the weather underground…..Apollo was stated as writing parts of the stimulus plan, Van Jones is a member of apollo…..Follow the money.
NICE JOB!
"The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs."
You can bet that the 600 construction jobs will be exclusively union labor, which means cost overruns and missed deadlines. All this for 45 freakin' jobs and sky rocketing energy costs?! This is insane!!
Mr. President. I have a message for you from former fitness celebrity Susan Powter. STOP THE INSANITY!
0bama and his cohorts have no shame.
What Congress giveth, they can take away, but we will have to wait until 2013 with a Republican Congress. These companies better keep good records and not waste the money because they will be investigated and some people may be going to jail. This Marxist experiment hopefully will come to an end in 2013.
Aw, Gunny, you're giving squished dog crap a bad name!
Semper Fi, Devil Dog.
When a child first visits Disney World he/she doesn't care about the money that was spent to get them there, they don't care how it's run, built, maintained, or the sweat, toil, blood and tears it takes to conceive of an idea, plan it, design it, make it work or any of the other thousands of wheels and cogs it takes to make it happen. They only care that it's fun, exciting and thrilling and is the things that dreams are made of.
Obama is that child and America is his Disney World.
Ditto that. Outstanding job, blueyes!
http://tonopahsolar.com/about_solarreserve.html
http://solarreserve.com/aboutUs.html
And that's just one of the players. So, where's a hungry reporter when you need one? Someone who would 'follow the money' and run the rest of these companies and their directors through the mill? Here's the rest of the DOE list, fwiw.
https://lpo.energy.gov/?page_id=45
According to Michael Savage, this company is connected to Nancy Pelosi. By way of her brother-in-law. Crony capitalism anyone?
When they go out-of-business, like Solyndra, Obama should pay back every single taxpayer out of his own pocket! I am not joking. I am tired of them taking my families hard earned money and basically wiping their azzes with it.
Even worse, crony assisted theft, I still say a huge chunk of this money is getting funneled into a numbered bank account in (one of ) obammy's names. At this point I think it has less to do with ideology than it does with plain, simple greed and theft, after all he is going to have to pay for the Yeti's vacations somehow.
It don't get any worse than this and yet NO ONE in that Great White Domed building will march up the street and kick his arse! At least they can take his credit card away.
Who on Gods GREEN Earth is going to start fighting back? AND When?
Really bad deals for the taxpayers
Again
Where is Holder?
Actually, I think he's trying to win an election so that he can finish the job of bankrupting the country. He said he would raise $1 billion for his reelection campaign, which is obscene. What better way to bundle money than before the scrutiny gets to be too much? Hence, the rush. Either that or he and his cronies are heavily invested in all things "green" and this is a way to rake in the dough with no risk to them.
Piglosi was reportedly heavily invested in green companies and she doubled her personal fortune in the last 2 years. Imagine that!
I have feared this for the longest time. Especially if he sees the numbers are against him and decides not to run.
I hope Drudge and Breitbart do a story on this, if true. Pelosi doubled her personal fortune in the last 2 years. This smells the big one. She's probably not the only one heavily invested in green companies. Obama is too eager to rush all this along. More companies receiving loans of this sort to come.
Wasn't there a story on Van Jones months ago admitting that "green" jobs were a scam and were really a front for Communism? Am I misremembering? Perhaps it's just a Commie retirement plan.
This is insane. Can't imagine what this corrupt administration will do and attempt when Obama is not elected between November 2012 and January 2013 when he leaves. Someone better watch them like hawks. Maybe take away the checkbook.
Shhhh, we are not supposed to notice the taxes and fees on our electric bill.
Oh he will run, he has far too much ego to just step aside, what I fear, is him losing and going ape sh!t nuts with the exec orders, God only knows what he will do in the lame duck session, him AND his minions that get voted out of the house and senate.
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