Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the S...

http://www.globalwarming.org/2012/01/27/drip-drip-drip-yet-another-gr...

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Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!)
by W I LL I AM Y E ATMA N on J A N U A R Y 27 , 201 2 in B LO G

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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 governments 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?

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EDITOR

{ 89 comments read them below or add one }

PR EVI O U S CO MMEN TS

WILLIAM YEATMAN CONTRIBUTORS MYRON EBELL MARLO LEWIS CHRIS HORNER BRIAN MCGRAW

Garr Obo

January 28, 2012 at 9:49 pm

Yeah but its all Bushs fault.

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thgirbla

January 29, 2012 at 1:29 am

COOLER H EADS COALITION 60 PLUS ASSOCIATION AMERICAN CONSERVATIVE UNION AMERICAN ENERGY ALLIANCE

Have another cup of KoolAid and take your daily dose of Liberal Meds. !!!
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Malarkey

January 29, 2012 at 1:32 am

I think he is being sarcastic.

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AMERICAN LEGISLATIVE EXCHANGE COUNCIL AMERICAN POLICY CENTER AMERICANS FOR PROSPERITY

jossch

January 28, 2012 at 9:53 pm

AMERICANS FOR TAX REFORM COMMITTEE FOR A CONSTRUCTIVE TOMORROW COMPETITIVE ENTERPRISE INSTITUTE COUNCIL FOR CITIZENS AGAINST GOVERNMENT WASTE

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 !
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oljw00

January 28, 2012 at 11:20 pm

EAGLE FORUM FRASER INSTITUTE, CANADA FREEDOM ACTION

You dont get it do you?

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Winnar
Racist!
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January 28, 2012 at 11:53 pm

FREEDOMWORKS FRONTIERS OF FREEDOM GEORGE C. MARSHALL INSTITUTE HEARTLAND INSTITUTE

Andrew

January 28, 2012 at 11:58 pm

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, Obamas green funding has failed, dont 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
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INDEPENDENT INSTITUTE ISTITUTO BRUNO LEONI, ITALY JOHN LOCKE FOUNDATION JUNKSCIENCE.COM LAVOISIER GROUP, AUSTRALIA LIBERTY INSTITUTE, INDIA NATIONAL CENTER FOR POLICY ANALYSIS

wick10

January 29, 2012 at 12:02 am

No jossch. The smart ones are the illegals from all countries who come here, and

NATIONAL CENTER FOR PUBLIC POLICY RESEARCH

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Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the S...

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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.
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PACIFIC RESEARCH INSTITUTE SMALL BUSINESS AND ENTREPRENEURSHIP COUNCIL TAXPAYERS ALLIANCE, UK

Jack

January 28, 2012 at 10:04 pm

I have written about the illogical system where amateurs are given control of billions of dollars without understanding the first thing about investing. Picking winners and losers with taxpayer money is insane. In yesterdays posting, I propose a market based system that removes all tax liability from companies and investors that succeed in producing alternative energy sources that meet our national goals. Here is my article http://mywtfblog.com/2012/01/no-place-for-amateurs/ Turn loose the power of incentives and profits, and American entrepreneurs will solve all of our energy issues.
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Schifter
Jack,

January 28, 2012 at 11:34 pm

Incentives and profits sounds great, but isnt that kinda anti-socialism?
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Phillip Emerson
than it had to
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January 29, 2012 at 12:13 am

FDR made the same classical mistake and made the depression last 8 more yrs

A. Schicklgruber

January 28, 2012 at 10:27 pm

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.
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Joe

January 28, 2012 at 10:52 pm

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.
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walking by

January 28, 2012 at 11:07 pm

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.

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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 isnt. 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.
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Bill

January 28, 2012 at 11:17 pm

Im curious how the failure rate of these investments compares to venture capital firms heavily invested in green technologies.
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Aranhas

January 29, 2012 at 12:21 am

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 cant choose winning investments. They should have at least asked Jim Cramer for his opinion before dumping billions into the toilet.
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Phil

January 28, 2012 at 11:34 pm

Where have all the dollars gone? Kicked back to the DNC, most every one. When will we ever learn? When will we ever learn?
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EYE

January 28, 2012 at 11:37 pm

No legitimate business needs a government pimp.

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Cogito

January 28, 2012 at 11:38 pm

Democrats used to be called the party of tax and spend. They have added a new dimensionTax, 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.
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Russell Knapp

January 28, 2012 at 11:38 pm

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 ? Didnt 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.
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zaq.hack

January 28, 2012 at 11:40 pm

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.
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Phillip Emerson

January 29, 2012 at 12:11 am

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
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Brian Richard Allen

January 29, 2012 at 12:14 am

How insane are We, The (Sovereign American) People, that we permit the most absolutely insane among us to run our feral gummint?

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Men who have never managed night shifts in 7-Elevens nor day-shifts in Dubuque Iowa cabs nor have ever been responsible to a profit center nor have ever met a payroll nor have ever created, innovated, manufactured nor produced so much as a grain of wheat or a drawing pin but have spent their entire lives sucking on the Public Tit and/or agitating for our beloved republics total destruction? The coked-brained, marijuana-mumbling, mobbed-up, Mussolini-modeled, modifiedMarxist, murtadd-muslim mothers milquetoast: Buraq Hussayn bin Buraq Hussayn bin Buraq Oogooboogoo Ubama, for example. Who doesnt seem to have yet cottoned on that We The People own not only these fifty united States and this glorious republic but also own the hundreds a millions of firearms and billions of rounds of ammunition and the required courage and resolve with which to defend them all against all enemies, foreign and domestic. And the strong conviction the tree of liberty must be refreshed from time to time, with the blood of patriots and tyrants!
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Bob

January 29, 2012 at 2:45 am

Please wake up people!

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