The Conservative Cave
Current Events => The DUmpster => Topic started by: SSG Snuggle Bunny on October 08, 2011, 08:51:48 AM
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A NH Solyndra? Wind farm gets fed loan
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.
http://www.unionleader.com/article/20110928/OPINION01/709289961&template=mobileart
So what's this got to do with all 99-Resenters?
Zuccotti Park, formerly called Liberty Plaza Park, is a 33,000-square-foot (3,100 m2) privately owned, publicly accessible park in Lower Manhattan in New York City. The park, which is owned by Brookfield Office Properties...
http://en.wikipedia.org/wiki/Zuccotti_Park
You tools are being allowed to camp on private property because the owners--who are already rich corporatists--are getting money from Obama to make him look good.
You're props in his class warfare schtick.
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You 99-resenters are such tools...and dang cheap ones at that.
33,000 square foot park! 3/4 of an acre, that's not a park, that's a small building lot.
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That company, which runs clean energy operations around the world, has deep pockets.
If it's in the bogus "clean energy" business, it has zero profits. It has just been good at siphoning off taxpayer funds.
No "clean energy" business is profitable anywhere in the world. They are without exception scams, foisted on the public by liberal politicians.
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If it's in the bogus "clean energy" business, it has zero profits. It has just been good at siphoning off taxpayer funds.
No "clean energy" business is profitable anywhere in the world. They are without exception scams, foisted on the public by liberal politicians.
That's not the point.
The point is the park the OWS brats are camping in is corporately owned and in bed with Obama for hundreds of millions in kickbacks. That's why they ahven't been evcited yet. They're tools for Obama and his cronies.
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That's not the point.
The point is the park the OWS brats are camping in is corporately owned and in bed with Obama for hundreds of millions in kickbacks. That's why they ahven't been evcited yet. They're tools for Obama and his cronies.
Glaring examples of "useful idiots" in action.
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I posted that UL Op-Ed a while back. Funny how the NIMBY/BANANA types up north are wildly opposed to Northern Pass, which would bring hydro electricity from Canada down here because they think power lines are ugly and drive down property values, but nary a peep came out about this windfarm that would be stuck on the top of a ****ing mountain (where it would be MORE visible than any of the NP towers) in the middle of Coos County.
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That's not the point.
The point is the park the OWS brats are camping in is corporately owned and in bed with Obama for hundreds of millions in kickbacks. That's why they ahven't been evcited yet. They're tools for Obama and his cronies.
And MoveOn.org, whose entire reason for existence was to elect and now keep in place The Annointed One, has thrown their support behind OWS. Obama, who is in with Wall Street up to his teleprompter-tired eyeballs.
Of course it's political, and the moonbats are too stupid to know they're being used.
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I posted that UL Op-Ed a while back. Funny how the NIMBY/BANANA types up north are wildly opposed to Northern Pass, which would bring hydro electricity from Canada down here because they think power lines are ugly and drive down property values, but nary a peep came out about this windfarm that would be stuck on the top of a ****ing mountain (where it would be MORE visible than any of the NP towers) in the middle of Coos County.
When the wind farms started to go up on the Tug Hill Plateau area, near where Karin is (that area is a big effin' area, so no OPSEC violation), the outcry from most of the farmers was pretty big--until they heard about the royalty checks that the farmowners who allowed the wind turbines were getting. Then, there were some lawsuits by the farmers who had originally opposed the turbines--opposed them, until they saw the money that those farmers were getting.
As bad of a lefty lib as Cyndi Lauper is, she was right about one thing . . .
[youtube=425,350]http://www.youtube.com/watch?v=oVkCjX1WTL8[/youtube]