Obama Energy Department Is Going Back and Changing Solar Energy Loan Press Releases
Posted by Jim Hoft on Wednesday, October 19, 2011, 6:48 PM
The Obama Administration spent nearly half of the $38.6 billion ($17.2 billion) set aside for his green energy programs and was only able to create 3,545 permanent green jobs.
This comes out to a staggering $4,853,000 per job.
Obama frequently promotes expensive green energy initiatives despite their drain on the economy. He promoted green energy in his 2011 State of the Union Address.
Now we find out that the Obama Energy Department is going back and changing solar energy press releases.
CNBC reported:
Someone affiliated with the Department of Energy has been going back to make changes to press releases posted on the Internet weeks and months ago, CNBC has found.
The changes occurred in two press releases from the Department of Energy’s loan guarantee program — the same program that has been the center of controversy surrounding the failed solar company Solyndra.
Both were changed to remove the name of a company that has received negative press attention in recent days, SunPower, and replace it with the name of another company, NRG Energy [NRG 20.89 -0.14 (-0.67%) ].
Generally, it is not considered correct procedure to revise old press releases retroactively on the Web. More commonly, government agencies will issue a new press release with a current date explaining any changes that have occurred.
In the April case, the Department of Energy loan programs office announced in a press release on April 12 “conditional commitment” to a $1.187 billion loan guarantee to support the California Valley Solar Ranch project, which it said was “sponsored by SunPower Corporation.”
But that release was later changed on one website to say the project was “sponsored by NRG Energy.” The date on the release remained “April 12, 2011.”
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Bobbi commented:
Got Screenshots? Coverup in process.
Finncrisp commented:
The Moslem playbook is to use lies and deceit to gain advantage. The Koran permits this…
I get it !
Buffalobob commented:
Nothing new here. The regime is rift with corruption and cover ups. What would be news is when they tell the truth.
Nelle commented:
Crooks.
Ginger commented:
Off Topic: This is wonderful!
Barbara from Harlem
http://www.youtube.com/watch?v=4Og2xv2cnaQ&feature=player_embedded
tommy mc donnell commented:
the most honest administration in history. so says american tass.
mg4us commented:
Agree with all of you. . this is a cover-up. . .but then why are we surprised when he did same with his so called Birth Certificate. .
Besides calls of it being a fake and forged. . it was signed by U.K.LeLee. . . . right. . .
When Obama said his administration would be the most transparent, he was using a leftist ploy to say what we want to hear but do the polar opposite.
2012 Can’t come soon enough!
savethenation commented:
And the lies and deceit keep on coming from this government. This is not new, but has been put into overdrive with this administration.
MustComment commented:
#4 – Crooks serving no prison time. How does that happen?
Patty commented:
What is the stated purpose of the SunPower’s DOE 1705 program loan guarantee?
SunPower has different lines of business. In addition to manufacturing solar panel and roof tiles, it builds solar panel ranches, which it then sells off, but retains the services contract.
The loan guarantee is earmarked for the job numbers for the California Valley Solar Ranch (CVSR) in San Luis Obispo County, which it has already sold to NRG Solar, but will continue to maintain.
According to the Department of Energy (DOE) website, the CVSR project will create 350 construction jobs during the two-year build and 15 permanent jobs—presumably those are the squeegee men for keeping the panels clean.
Capitol Hill powerbroker Rep. George Miller (D.-Calif.), center, hosted Interior Sec. Kenneth L. Salazar, left, on an Oct. 14, 2010 tour of SunPower’s Richmond, Calif., plant. During the tour, Salazar said plants like SunPower’s transform renewable energy ideas into reality. One month later, the company announced it had restated its 2008 and 2009 financial filings to correct for unsubstantiated accounting entries.
If $80 million per permanent job seems a little high, even for the current Obama administration, you are correct. In addition to the 350 construction jobs and the 15 squeegee men, there will an as-yet-undetermined number of jobs created building the panels for the CVSR—in Mexicali, Mexico.
http://www.humanevents.com/article.php?id=46761 read more
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Patty commented:
Insiders get liquid through for $1.4 billion friendly buyout from France.
If that timing seems odd to you, consider the time line of company events around when the loan was announced April 12: just two weeks before France’s Total Oil (TOT-NYSE) launched its friendly takeover.
The deal, made public April 28, was in effect a 60% buyout at $23.25, then a 60% premium over the stock’s trading price, which allowed insiders to get liquid.
SunPower CEO Werner is typical of the insiders. On May 24 he exercised his right to purchase 428,343 shares at $3.30 per share, a $18 discount from the day’s trading range. He sold 478,084 shares June 15, the day the Total Oil takeover closed, at $23.25 for proceeds of $11,115,453.
Remember, Total Oil was offering at $23.25 per share in what was in effect a private sale. The SPWR, Class A or B, shares have not traded above $23 since June 10, 2010.
http://www.humanevents.com/article.php?id=46761
read more
A_Nonny_Mouse commented:
Oh, goody.
1984 comes alive.
Now we have a Ministry of Truth and lots of little “Winston Smith”s rewriting history to match The Current Party Line.
Way-ta-go, OBummer & crew. Your puppet masters should be SO PROUD.
Patty commented:
wicked things are happening and Obama is destroying America. This administration has to be using the paper shredders overtime.
Patty commented:
The allegations cover the period between April 17, 2008, to Nov. 16, 2009, the day the company announced that it had discovered unsubstantiated accounting entries to its operations in the Philippines, which led to the significant restating of the company’s financials.
There are a number of lawsuits filed in California courts relating to the same period alleging gross mismanagement, breach of fiduciary responsibility, unjust enrichment and abuse of control.
The first of the lawsuits was filed Nov. 18, 2009, and they have yet to be resolved.
It is a fair question to ask how a company with such serious charges lodged against its management team could receive a $1.2 billion loan guarantee from the taxpayers, so it could built a new manufacturing plant in Mexico to build the solar panels it will install at a photovoltaic ranch that will create a total of 15 permanent jobs.
Certainly, the time is right for Miller and Miller to clarify their roles in this mess.
http://www.humanevents.com/article.php?id=46761
read more
Dept of Energy and Free Money commented:
We didn’t do anything. It was those time traveling neutrinos. The science is settled.
kansas commented:
What. Obama is unethical? GTFO
GUS commented:
I’m sure there is a good reason to go back and change history. Obama does it all the time.
Hope and Change. Who the fvck bought that bullsh!t??
Sickofobama commented:
That’s not all that’s being erased in the Obama Regime.
It’s vital this gets passed around.
http://www.americanthinker.com/2011/10/obama_1_informed_public_0.html
Sparky commented:
I see the Chicago thugs have graduated to a Stalinesque level.
Obama and his regime are desperate to hide and erase the secrets.
I dare say desperation will cause this admin. to do anything!
Carbon Pootprint commented:
“Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we’re going to have to change our traditions, our history; we’re going to have to move into a different place as a nation.” Moochell Obama bahaahahaha
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