80% of Green Energy loans went to Obama donors.
The FOX News analyst says 70% in the video but actually 80% of DOE dollars went to Obama backers. 19 of these green energy companies went bust.

And, it’s expensive.
Solar power is 35¢ per kilowatt compared to coal, gas and oil that costs 5¢ per kilowatt.

Here’s a list of the green companies that have gone belly-up since receiving Obama dollars.
Heritage reported:

For those who only hear about these failing companies one by one, the following is a list of all the clean energy companies supported by President Obama’s stimulus that are now failing or have filed for bankruptcy. The liberal media hopes you’ve forgotten about all of them except Solyndra, but we haven’t.

Evergreen Solar
SpectraWatt
Solyndra (received $535 million)
Beacon Power (received $43 million)
AES’ subsidiary Eastern Energy
Nevada Geothermal (received $98.5 million)
SunPower (received $1.5 billion)
First Solar (received $1.46 billion)
Babcock & Brown (an Australian company which received $178 million)
Ener1 (subsidiary EnerDel received $118.5 million)
Amonix (received 5.9 million)
The National Renewable Energy Lab
Fisker Automotive
Abound Solar (received $400 million)
Chevy Volt (taxpayers basically own GM)
Solar Trust of America
A123 Systems (received $279 million)
Willard & Kelsey Solar Group (received $6 million)
Johnson Controls (received $299 million)
Schneider Electric (received $86 million)

That’s 19 (that we know of so far). We also know that loans went to foreign clean energy companies (Fisker sent money to their overseas plant to develop an electric car), and that 80% of these loans went to President Obama’s campaign donors.

 

 

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  1. How President Obama’s Bureaucratic Investments Kill Jobs

    {..}

    The Obama Department of Energy extended a $2.1 billion “investment” — a loan guarantee — to green-tech company, Solar Trust of America, which declared bankruptcy last month. He lost another $530 million on Solyndra, a start-up where executives were making lucrative salaries, plus bonuses.

    And for all the President’s promises of millions of “green jobs,” few have appeared. The White House claimed its “investment” in Solyndra would create 4,000 jobs, but at its height, the company employed just 585 people — and then it went bankrupt. The cost? Almost $1 million per temporary job.

    The $34 billion Obama has on his loan guarantee program for green energy startups exceed the GDPs of 104 of the world’s countries, but the sources he’s focusing on account for only a tiny fraction of America’s energy production, and they’re still not cost-competitive.

    His stimulus package, too, was an indiscriminate “investment” which added $800 billion to our debt — and a failure by any reasonable standard.

    If President Obama wants to make Mitt Romney’s experience as a private investor “what this election will be about,” it can only highlight this dysfunction of his bureaucratic model for job creation compared to private capital.

    Private investors risk their own money because they think an enterprise will succeed, earning them a positive return. That’s what the word “investment” means.

    And because they have their own resources on the line, private investors carefully pick companies that offer products and services other people actually want — things for which there is a demand. That’s how they hope to earn a profit.

    Enterprises for which there is genuine demand are able to grow and employ people. So in addition to creating something others find useful, they create jobs as well.

    Private investors do not, in general, purchase failing companies intending for them to go out of business. Since failing companies do not earn money, such a venture would work against their goals.

    And because their own money is at risk, private investors monitor closely how their company is being run and intervene if they feel their funds are bring used unwisely or in ways that don’t contribute to the business’s growth.

    Bureaucratic investment works on assumptions that are almost exactly the opposite.

    Bureaucratic investors use other people’s money, taken by force, and give it to companies with no expectation of a positive financial return. These “investments” are, to all appearances, indistinguishable from reckless spending.

    In fact, the bureaucrats are probably aware that their “investment” is highly risky and unlikely to be profitable, since if it weren’t, the venture would be able to attract private funding rather than needing a government handout.

    Indeed, it is bureaucrats who at times “invest” even when advised emphatically that a business is likely to fail (as those in the Obama administration were warned about Solyndra).

    Because they are using the taxpayers’ money, bureaucrats are not overly worried about whether the business they’re funding offers products or services that other people actually want to buy.
    {…}

    http://www.humanevents.com/2012/05/30/how-president-obamas-bureaucratic-investments-kill-jobs/

  2. No suprise there, this is the most corrupt administration in U.S. history. We have added $5 T in new debt to show for it.

  3. Once again we taxpayers are left holding the bag after more incompetence from Obama. Of course he doesn’t care if the money disappears, it’s not his. Only he benefits in the eyes of his stupid green base that he “did something” about the environment even though it didn’t amount to anything. To the left, throwing money at a “problem” is all that is needed to become a liberal “saint” in their eyes. The reality of the situation is that we’re in the hole for many billions and we are in worse shape than when he took office. My question is: where did that money go? My guess is that is was diverted to the left’s Socialist causes or Obama’s re-election.

  4. The regime’s Green scam is an enormous money laundering operation. It dwarfs Madoff’s pyramid thievery, especially since it has stolen, and continues to steal, taxpayer money – OUR money – for the regime’s special interests. The whole lot of them, from Comrade Barry to his czars, satraps and cronies. need to face prosecution and punishment under the law, once we get the criminal Holder arrested for his numerous crimes and clean out the (in-)Justice Dept.

  5. Went to his donors and magically reappeared in Husseins campaign chest.

  6. SØBama’s GreenGate

  7. oBama rewards big bundlers with jobs, commissions, stimulus money, government contracts, and more…
    http://www.iwatchnews.org/2011/06/15/4880/obama-rewards-big-bundlers-jobs-commissions-stimulus-money-government-contracts-and

    Corrupt to the core..and the media continues to give their Messiah a pass.

  8. Nothing new here, except that Obama is out in the open with his thievery, it’s the Chicago way. The Chicago way is to do what you damn well please, and dare anyone to stop them. How much are we out? A trillion, two trillion, aah but whose counting. I must ask, how did Obama become a millionaire? He never had a job, his books sold maybe 100 copies. I guess this is one of those things that make you say “what the hell happened”

  9. One thing that needs to be said here is how misleading the 80% figure is. It certainly doesn’t mislead anyone as to the ratio of loans that went to Obama donors, but it leaves us with the impression that 20% of the loans went to McCain donors or Republican party officials. It is far more likely that the remaining 20% went to people/companies that did not donate at all. The story should be updated to reflect that NONE of the loans were made to Republican party operatives if that is the actual case. If some percentage of the loans were actually made to supporters of Obama’s opponents, we should be told whatever that figure actually is.

  10. The way I see it the Green Scam is the newest delusional propaganda initiative. The last one was White Guilt, which immobilized many people from stopping practices (such “affordable housing”) that were obviously risky or detrimental. The Green Scam will coerce people to vote for or support practices that will eventually impoverish them and surrender their liberty, all in the name of what’s fair for everybody or good for the planet. Perfect example: consenting to paying 35 v. 5 cents per kilowatt.

    People make decisions based on their attitudes, which are based on their thoughts, which are based upon impressions in the mind (both conscious and subliminal) which may or may not be true, but if constant enough will do the trick. The liberal media complex in the US is unsurpassed in this kind of mind control and it takes conscious rejection and the will to resist to not be overcome by it. Otherwise it slips right in. / My 2 cents.

  11. I still think ( you might want to call me a conspiracy nut ) that Obama had something on McCain. I mean how else do you explain the worst campaign in American history. It seemed at times that he was actually campaigning for Obama.

  12. McLame was and still is a fool whose only smart thing he ever did was say i do.

  13. 80% of Green Energy Loans Went to Obama Donors

    I believe that spells C-O-R-R-U-P-T…

  14. He’s not a bad guy, he’s just incompetent.

  15. this Green Scam is a pure money laundering operation!

  16. Perhaps The Justice Department should investigate this — oh yeah more chance of seeing pigs fly. Bet a lot of top Dems are frustrated with Obama and the left and want to take the party back to the center. The party reeks of corruption.

    Obama gave us pay for play Chicago style politics. He must be so proud.

  17. Well, duuuuh! We already knew that ALL the money, not just the money he stole for the “clean energy” companies was for his supporters. That includes states that voted Democrat, he sent money to them to offset their budget shortfalls, districts, he sent money to them to pay back Democrats campaign debts, Democrat candidates who won or lost, he sent them money to pay back their campaign debts, expenditures, etc., unions, he sent them money to fund their pension funds that weren’t fully funded because of those mean Republican governor’s who wouldn’t support the sorry butt unions. And on, and on, and on. He has spent trillions of dollars paying back all the Democrats, people, states, anyone, everyone who was Socialist/Communist, Marxist, you name it he sent money to them.

    And the problem with that is, he used taxpayer money to do all of that. What, we owe money back that we’ve already paid into the system?? That doesn’t make any sense, and it’s criminal. He is not supposed to use taxpayer monies to pay back personal debts be they his personal debt, states, unions, companies, anyone, no one. It’s a crime….period! But, nobody is doing anything about it, so what can we do other than contact our representative and tell them not to let the money be paid out to who Obama wants that money spent on. NO ONE AND FOR NOTHING OTHER THAN WHAT THE CONSTITUTION SAYS HE SHOULD.

    As far as I am concerned the American people don’t owe a dime that is money spent outside the Constitution. That means all the money that the Constitution says we’re supposed to spend our money on, we don’t owe.



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