The Conservative Cave
Current Events => Breaking News => Topic started by: President Zero on September 29, 2011, 11:09:52 AM
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What an outrage, you'd think that President Zero and his administration would have learned from Solyndra. Another billion dollars down the drain and for what? Paying three million dollars per green job. These guys are so blatantly stupid.
FOX News (http://www.foxnews.com/politics/2011/09/29/energy-department-approves-2-solar-loans-worth-1b/)
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WTF? :mad: :argh: :censored: What happened to Congress holding the purse strings? We work day in and day out for absolutely nothing.
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WTF? :mad: :argh: :censored: What happened to Congress holding the purse strings? We work day in and day out for absolutely nothing.
This was money that Obama had already appropriated for his cronies under the last stimulus bill and it had to be spent now or it would be lost. Well, sort of, it will be lost when these companies go tits up anyway.
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If at first you don't succeed....you didn't waste enough money.
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Whoever gets elected needs to get the federal government out of the picking winners and losers business. If a business is so bad that it fails without government subsidies, it needs to be eliminated.
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pelosi's bro-in-law is tied in with one of these new loans (http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html)
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pelosi's bro-in-law is tied in with one of these new loans (http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html)
JUST saw that and had to see if it was true or not. How infuriating!!!!
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700+ million for something that will put out only 110 megawatts if and when the sun is shining. For that kind of money they could build a nuclear plant that would generate 2,500+ megawatts 24/7/365.
Remember now, these are smart people, they went to HAA-HAA-HAA-vard.
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700+ million for something that will put out only 110 megawatts if and when the sun is shining. For that kind of money they could a nuclear plant that would generate 2,500+ megawatts 24/7/365.
Remember now, these are smart people, they went to HAA-HAA-HAA-vard.
The sun is always shining in Nevada, unless it's a rare rainy day. However, that money is more than likely not going to be spent in Nevada like stated.
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The sun is always shining in Nevada, unless it's a rare rainy day. However, that money is more than likely not going to be spent in Nevada like stated.
They're going to buy the solar cells from Solyndra China, right?
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Yep, saw this and saw that Pelousy's BIL is benefitting. Someone needs to go to jail because of this. This is fraud.
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Yep, saw this and saw that Pelousy's BIL is benefitting. Someone needs to go to jail because of this. This is fraud.
Not if you're a democrat, it's business as usual.
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The libs hate "big oil" because they think they have all the republicans in their back pocket but turn a blind ear about how "big green" have the democrat party in their back pocket.
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These guys aren't really so blatantly stupid, PZ. You have to look at it from their point of view.
You have to look at our current financial situation as a house fire. Really it's a raging inferno, this ain't looking too good here for us. So what to do? How about we all work together and form up a bucket brigade to put it out? Great, there's a solution that will work.
That's what 0bama is trying to make it look like he's doing and the leftist media spin is right there with him trying to make it look all bloody wonderful.
But it isn't working. The fire is growing and growing. Why is that, hmmm... Because 0bama's bucket brigade isn't throwing water on the fire, he's throwing gasoline.
He's not stupid, he knows exactly what he's #@*%ing doing. He doesn't really care that it's a solar company beyond the value in that for leftist media spin and the big green fairy tale so long as he has somewhere to throw another BILLION FREAKING DOLLARS onto the inferno, that's all.
Just keep those Fed printing presses running like Niagara Falls and we'll be the U.S.S.A. in no time.
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This is exactly why I want to punch someone when I hear a liberal say we need to raise taxes. If you have money to run around acting like a venture capitalist firm, taking business risk with taxpayer dollars, YOU HAVE TOO MUCH TAX REVENUE. That and spending $900,000 studying gay penises.
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Oh, they're all over the place, kids.
Mods, if you see fit to split this off into a separate topic, please do, but figured it was best suited to be here:
A NH Solyndra? Wind farm gets fed loan
EDITORIAL
Published Sep 28, 2011 at 3:00 am (Updated Sep 27, 2011)
LINK (http://www.unionleader.com/article/20110928/OPINION01/709289961)
(too short to excerpt)
In the name of “green energy,†the Obama administration is using taxpayer money to subsidize a New Hampshire wind farm that is a subsidiary of a hugely profitable company.
New Hampshire’s largest wind farm, the Granite Reliable Power project under construction in Coos County, is jointly owned by BAIF Granite Holdings, LLC and Freshnet Wind Energy, LLC. BAIF owns 75 percent of Granite Reliable. BAIF Granite Holdings was created earlier this year by Brookfield Renewable Power, which is a subsidiary of Brookfield Asset Management of New York.
That company, which runs clean energy operations around the world, has deep pockets. It reported net income of $454 million in 2009 and $3.2 billion in 2010. Brookfield Renewable Power financed the creation of BAIF Granite Holdings from its Brookfield Americas Infrastructure fund, which was reported in February to have $2.7 billion in assets. With that kind of backing, it is curious that the U.S. Department of Energy announced it would guarantee up to 80 percent of a $168.9 million loan for the Granite Reliable wind farm project last week.
Why would a company created by a $3.2 billion company and backed by a $2.7 billion private fund need federal loan guarantees? That would be an important question at any time, but it is more pertinent after the bankruptcy of Solyndra, a solar-panel maker that got a $535 million federal loan guarantee from the Obama administration last year.
Granite Reliable’s wind farm is not proven, and Granite Reliable is a limited liability company, which provides broad investor protection if the company goes down. If the wind farm flops, and investors cut their losses, the taxpayers stand to lose $135 million. What is the justification for risking $135 million in public money, especially on a company with access to so much private cash? Apparently, the justification is that Obama likes “green power†and wants to associate himself with it.
With the country running deficits as far as the eye can see, the Obama administration opts to spend money we don’t have to subsidize a risky venture undertaken by the subsidiary of a huge, profitable company. If that doesn’t perfectly illustrate what is wrong with crony capitalism in general and the Obama administration’s practice of it in particular, we don’t know what would.
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You know, if the math actually worked behind this failed technology, NASA would have invented it 40 years ago (using slide rules and $4,000 college degrees) and would be using it to run their space centers.
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Wow! Did I say 2 new loans? Better Make that 4 more loans. They did it before the deadline on Friday. Shameless!! Simply Shameless.
Yahoo News (http://news.yahoo.com/govt-backs-4-more-solar-loans-deadline-looms-211923508.html)