Here is Obama’s GREENTECH FAIL list WHICH HAS LAID WASTE BILLIONS IN TAXPAYER DOLLARS!!!

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The Federal Government Just Announced the Biggest Clean Energy Boost Since the Stimulus

When Obama blames Republicans for infrastructure failure, think again!

Families will have less disposable income as they spend more to light and heat their homes, with seniors, families on fixed incomes and lower-income Americans being hit the hardest.

Read more: EPA rule puts U.S. economy, electric grid at risk – Politico

LATEST: How do you screw taxpayers and reward your cronies that got you elected?  By handing over billions.  Obama administration has a 5 point plan.  Secretary of Interior Sally Jewell, an Obama appointee can tell you.  She stated, “This (the Desert Sunlight project) is the beginnings of a renewable energy future.”  Another future failure costing taxpayers billions.

Here’s the truth.  The Desert Sunlight, a CA state project involves 1) $1.5 billion of federal government subsidized loans.  It mandates purchases of overpriced power, to benefit three of the world’s largest corporations— GE, NextEra Energy and Sumitomo Corporation. 2) They rent Federal government land at bargain basement prices. 3) The Government provides loan guarantees and 4) offer Federal government tax credits of 30% to buy their solar panels. Still not enough for Desert Sunlight to succeed?  5) California requires utility companies 33 percent of their energy come from renewable sources

Here is Obama’s GREENTECH FAIL list WHICH HAS LAID WASTE TO BILLIONS OF TAXPAYER DOLLARS!!!

The list has grown so large I have decided to make this an ongoing project. Fox News list October 2012.

39. World’s largest solar plant applying for federal grant to pay off federal loan.  Owned by Google and NRG, shame on them for asking for a taxpayer handout.  “This is an attempt by very large cash generating companies that have billions on their balance sheet to get a federal bailout, i.e. a bailout from us – the taxpayer for their pet project,” said Reason Foundation VP of Research Julian Morris. “It’s actually rather obscene.”

38. NEW –Bankrupt Fuel Cell Maker Lilliputian – MIT spinout and consumer fuel cell startup Lilliputian Systems recently declared bankruptcy after more than twelve years of development and hype, $150 million in VC investment and dozens of press releases attesting to the strength of its portable charging technology. Lilliputian had won several government R&D grants.

37. NEW – With the news of another tragic FAIL, Abengoa which received a $1.4 billion loan guarantee in 2010 to build one of the world’s largest parabolic trough solar plants near Phoenix, Ariz.  The following year it received another $1.2 billion in loan guarantees to build another solar plant in California’s Mojave Desert.  The following year it received another $1.2 billion in loan guarantees to build another solar plant in California’s Mojave Desert.

36. NEW – Smith Electric Vehicles – Despite $32 million in federal stimulus funds and status as one of Obama’s favorite “green” companies, the firm has halted production, having built just 439 of the promised 510 vehicles.  Bright Automotive (electric delivery vans)Carbon Motors (clean diesel-powered police cars)Aptera Motors(three-wheeled electric cars)Coda Automotive (inexpensive electric sedans), all bankrupt or near bankruptcy, applied for Government funds but didn’t win the lottery.  Tesla Motors, on the other hand has met with growing success.

35. Ecotality, an electric car charger maker, who won a $99.8 million grant from the U.S. Department of Energy four years ago filed for bankruptcy. Green Energy Co. Folds after Obama gives it $99.8 Mil.

34.  GreenTech Automotive is owned by Capital Wealth Holdings, an investment company incorporated in the tax haven, the British Virgin Islands.  GreenTech president and Chinese businessman, Charles Wang, owns the investment company.  Wang is an expert on the EB-5 visa program and has coached other U.S. companies on how to effectively make use of it.  Virginia Governor, Terry McAuliffe is involved in electric car company.  The U.S. Securities and Exchange commission currently is investigating GreenTech’s use of the federal EB-5 visa-investor program, which raises funds from foreign nationals in exchange for U.S. green cards.

33. A $50-million loan previously award to Vehicle Production Group LLC (VPG)through the Advanced Technology Vehicles Manufacturing loan program (ATVMP) has gone unpaid. VPG, a maker of compressed natural gas-powered wheelchair-accessible vans, shut its doors in May after running out of cash.

32. SoloPower, the startup pitched as the most innovative player in Oregon solar manufacturing, will suspend its Portland operations.  State officials, too, were working to get in touch with the company, which has received a $10 million loan and a $20 million tax credit.  It also is in line for a $197 million federal loan, meant to help fund later stages of growth.

31. Rentech Incorporated For most of its 33-year history, Rentech Inc. tried to make money on green fuel development. But like its plans to sell synthetic diesel to major airlines in 2009, those efforts never really left the ground.  Rentech received $23 million from the DOE for a Colorado refinery turn wood into fuel.

30. SunTech Power, a China owned solar company struggling from a downturn in photovoltaic solar panels, benefited from a combined $84 million in Energy Department tax credits.

29. SolarWorld, a German company received more than $100 million in state and local tax incentives – only to see companies like SolarWorld in Hillsboro and SoloPower in Portland struggle in the wake of fierce competition, especially from Chinese companies. Source: Oregon bet big on this emerging technology

28. VESTAS, A Danish wind turbine company whose subsidiaries received over $50 million in U.S. stimulus dollars. Vestas also reported a net loss of 62 million euros, or $83 million, for the second quarter, compared with a loss of 8 million euros in last year’s comparable period. Revenue declined to 1.2 billion euros, compared with 1.6 billion euros a year earlier.

27. COMPACT POWER Plant that received $150M in taxpayer money to make Volt batteries furloughs workers.

26. CH2M HILL, is embroiled in atime card fraud scheme that took place between 1999 and 2008 when CH2M was servicing a DOE contract worth $2.2 billion, and at the beginning of 2013, it was discovered that CH2M HILL Plateau Remediation Company (CHPRC) “provided inaccurate cost data to support a multi-billion-dollar federal nuclear waste cleanup contract, “reported the Washington Free Beacon. Despite their history of legal and workplace safety violations, in 2009 an additional $1.3 billion was awarded to a different CH2M subsidiary to go toward the Hanford cleanup.

25. Bankrupt Amonix.

24. Bankrupt Babcock & Brown.

23. Bankrupt A123 Systems.

22. Bankrupt EASTERN ENERGY

21.Near Bankrupt 5N Plus The State of Wisconsin handed over $500 thousand to a Canadian company to open a solar panel recycling plant near De Forest.

20. BANKRUPT Fisker Automotive–was awarded a $529 million loan under an Obama admin program designed to spur production of advanced tech.  Fisker drew about $193 million of the Energy Department loan to engineer its Karma luxury plug-in hybrid. AL GORE!  Now the Chinese benefit from our hard earned taxpayer dollars!!!

19. BRIGHTSOURCE — President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company.

18. Bankrupt Solar Trust for America.

17. Bankrupt Energy Conversion Devices.

16. Bankrupt Raser Technologies.

15. Bankrupt First Solar – of course GE’s in the mix.

14. Bankrupt NEVADA N.G.P.

13. ENN Mojave Energy LLC – linked to Harry Reid,

12. Bankrupt Ener1—

11. Tonopah Solar – linked to Harry Reid, Nancy Pelosi and Crescent Dunes

These 10 failed projects ALONE, cost $3.4 billion in taxpayer funds AND COUNTING!

10. Bankrupt SolarReserve,

9. Bankrupt Beacon Power,

8. Bankrupt Geo Thermal,

7. Bankrupt Sempra Energy

6. Bankrupt Evergreen Solar, Inc.

5. Bankrupt SpectraWatt

4. Bankrupt the Crescent Dunes Solar Energy Project.

3. Bankrupt Abound Solar of Loveland, Co. $400 million from Obama

2. Bankrupt SunPower: Twice As Bad As Solyndra.

1. Bankrupt SOLYNDRA

NOTE:  I agree much needs to be done (more practical examples abound, like passive shading) regarding pollution and the reduction of CO2 emissions but this post  is about pure politics, corruption and an abusive waste of taxpayer money.  I am not a climate change denier so don’t report me to the good professor.  I still do believe the jury is out on the all the reasons climate change advocates attribute to climate change.  Rather than panic and spend billions MORE of taxpayer dollars on failed Greentech technology, I believe in a pragmatic, limited government approach, such as that espoused by Bjørn Lomborg, author of The Skeptical Environmentalist and Cool It, to lower CO2 emissions.  I believe existing and new technology such as driverless cars will do much more to reduce emissions than government backed wind and solar.  Let the private sector do it’s job, which is to innovate, create jobs and grow the economy.  Let government get out of the way.

About Idea Capitalist
Family guy and entrepreneur. Small Business owner. NFIB Leadership Council member. Serial blogger.

4 Responses to Here is Obama’s GREENTECH FAIL list WHICH HAS LAID WASTE BILLIONS IN TAXPAYER DOLLARS!!!

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