Obama to double down on his failed green agenda today.

Barack Obama will promote his failed energy policy today at a Nevada solar plant that employs only 5 full-time employees and cost taxpayers $54 million. That comes out to $10.8 million in tax-dollar subsidies per employee. Obama will tout this as a success story.
It’s an Obama world.

Copper Mountain Solar 1 is a 48MW photovoltaic (PV) solar power plant located in Boulder City, Nevada. Image courtesy of First Solar.

The Nevada Journal reported:

President Obama will tout investments in “renewable” energy Wednesday at the local Copper Mountain Solar 1 plant, although the plant has only five full-time employees.

The plant, owned by San Diego-based energy company Sempra, was built in late 2010 at a cost of $141 million. Funding included $42 million in federal-government tax credits and $12 million in tax-rebate commitments from the state of Nevada.

Construction of the plant involved over 300 part-time jobs, but currently only five full-time employees operate the plant, a Sempra spokeswoman confirmed. That comes out to $10.8 million in tax-dollar subsidies per employee.

Solar 1 is the largest solar photovoltaic (PV) power plant in the country and is regarded as a “revenue generator” by Sempra. According to the Las Vegas Sun, Boulder City expects to receive over $60 million in lease revenue from the plant.

Boulder City Manager Vicki Mayes, however, told Nevada Journal the $60 million was “highly inaccurate” and that the total lease revenue will be “much less.”

Increasing green-energy production has been one of President Obama’s main goals since he took office. Politicians such as Senate Majority Leader Harry Reid and officials including Secretary of Energy Steven Chu have zealously encouraged green-energy subsidies in Nevada.

In addition to wanting to create many new jobs, President Obama has claimed green-energy investment will decrease America’s energy costs and reduce the country’s dependency on foreign oil.

In Boulder City, however, renewables have produced no lower energy costs. Instead, in late 2009, the city approved a 35 percent rate hike, while power generated by Copper Mountain is to go to Southern California — rather than serve Nevadans whose taxes helped finance the plant.

It is truly frightening the way this far left president gets stuck on a failed idea and can’t let it go.

 

Did Obama Help ISIS?

 

Disable Refresh for 30 Days

Cookies and JavaScript must be enabled for your setting to be saved.

1 2

`
  1. Cost to build —————-141 million
    Expected lease revenue —60 million

    How does this represent a success?

  2. What else do you expect from a government subsidized, media whore like BO who has never worked a day in his life? The fools who voted him in are the ones responsible for this disaster of a presidency. BO is just doing what he knows, and narcissistic idiot that he is, he has no concept of the real world that we live in. He spends taxpayer money like it grows on trees without having any idea of what went into the generation of that money in the private sector. On top of all that, like all good liberals, if his policies destroy this country, so what? He’s an America hater, first and foremost. It always just blows my mind that the people who will be the most affected by a financial collapse are the biggest cheerleaders for the same. Liberalism is a mental disorder, period.

  3. another obama favorite in renewable energy…….
    http://freebeacon.com/algae-alimony/

  4. It is truly frightening the way the MSM fails to report the emperor has no clothes.

  5. Sure it’s renewable, for so long as the government subsidy is renewable.

    And that would be forever, wouldn’t it?

  6. Sure it’s renewable, for so long as the government subsidy is renewable.

    And that would be forever, wouldn’t it?

  7. anything that loses money and costs US tax payers is a success to obumbler….destroying america day by day

  8. The only alternative energy source that makes sense is Nuclear. The Left hates carbon AND nuclear. The Left is stupid about Energy. Unfortunately, instead of choosing smarter policies, the Left simply dumbed down the electorate with Union teachers and public schools. Now, we are all as dumb as the Left, and believe in fairy tales about Energy, instead of the reality.

    “The Sun, the Wind, the Unicorns and the Dolphins will all save us, children! If we chant it and believe it, it will become true!”

  9. While this project is undoubtedly yet another instance of crony capitalism, and an example of economic waste, this article does not provide the facts to deduce such. The proper measures of the economic sensibility or folly of a power plant are: its initial capital cost, its expected lifetime; and its cost per kW of capacity. For a solar plant, additional discounting and cost accounting has to be done to reflect its non-continuous power availability.

    “Jobs created” is not a good measure of this project. Those who believe jobs created by fiat or other non-free-enterprise means are worthwhile should look up “broken window fallacy”. For example, see http://en.wikipedia.org/wiki/Parable_of_the_broken_window .

  10. Definition of insanity – repeating the same thing over and over again, but expecting a different result.

    What does Obama use that is powered with solar energy?

    Destroying America one trillion at a time.

  11. Today marks the one-year anniversary of the ongoing congressional investigation of Solyndra, the failed solar company that received a $535 million federal stimulus loan. To Republicans, the Solyndra episode is an egregious example of White House perfidy and cronyism, such that they’ve built a whole catechism around it that candidates routinely pay obeisance to on the campaign trail. But despite all the hysteria, Solyndra’s failure was fairly routine — costly and unfortunate, sure, a political nightmare, yes, but hardly scandalous. Solyndra was a promising company that suddenly went bust when the price of silicon plummeted and wiped out its competitive advantage in the marketplace (more about that here).

    But it’s embarrassing to President Obama, not least because he personally touted Solyndra as a beacon of “American ingenuity and dynamism” at a 2010 campaign stop, and a few of his big donors had financial stakes in the company. And so Republican investigators have pursued it with a vengeance, hoping to turn up the proverbial smoking gun that confirms their darkest suspicions — so far, with no luck.

    A White House source passed along some information that gives a sense of just how much time, money, and effort has been spent pursuing this investigation: House Republicans have sent 32 congressional letters, compelled 187,000 pages of administration documents, 72,000 pages of documents from Solyndra investors, 9 committee staff briefings, 5 committee hearings, and a sworn committee interview with the Obama bundler who raised money from people involved in the company. Much (but not all) of the committee’s $7 million budget has been devoted to funding this inquisition. And it’s turned up no evidence of wrongdoing.

    One reason the investigation persists is that it’s a handy pretext for demanding documents, and who knows what could turn up? But Democrats have also done a pretty lousy job of defending against the idea that something nefarious was going on. The clearest evidence that Solyndra was a worthy recipient of a government loan is that it also attracted hundreds of millions of dollars from big-name private investors and top venture capital firms, including Richard Branson, KKR, and Argonaut Private Equity (the full list is included in this bankruptcy filing [pdf]). In 2010, the Wall Street Journal named Solyndra the top venture-backed clean-tech company. MIT Technology Review named it one of the world’s 50 most innovative companies. Goldman Sachs was the lead investment banker. So the notion that Solyndra was a boondoggle for Obama cronies is silly.

    What’s more, it was one of 28 companies that received loan guarantees under an Energy Department program, and the possibility that some of those companies might fail was anticipated by the program’s authors: they budgeted $2.5 billion to cover any failures.

    The real problem Solyndra illustrates is that the political world has a much harder time accepting failure than the business world. In light of this reality, the question that ought to be examined is whether it makes sense for the government to subsidize private businesses. The mess Solyndra has left behind — many startups are now wary of accepting government support, even if they could use it — has been costly to everyone involved, not least the taxpayers. In business, you cut your losses and move on. But in Congress, there’s no penalty for throwing good money after bad.

    http://www.businessweek.com/articles/2012-02-27/why-solyndra-wont-go-away

  12. Not even FDR and Harry Hopkins were as reckless as Obama.

    This should be brought out in the upcoming debates.

  13. Obama’s Algae Racket

    Thanks to one of President Obama’s executive orders, Solazyme secured a $12 million contract with the U.S. Navy to unload hundreds of thousands of gallons of biofuel — priced at an estimated four to seven times the normal cost of regular jet fuel.

    This self-sustaining crony ecosystem, powered by administrative fiat and wealth redistribution, gives new meaning to the phrase “green crude.”

    http://michellemalkin.com/2012/03/21/obamas-algae-racket/



1 2


`

© Copyright 2014, TheGatewayPundit.com. All rights reserved.
Privacy Policy | Terms and Conditions