The definition of a failed administration–
Barack Obama told Wisconsin voters today:
“Some of the businesses we encourage will fail.”
Oh well, at least Obama’s donors got paid.
80% of DOE dollars went to Obama backers.
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.
Solyndra (received $535 million – now bankrupt)
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
Abound Solar (received $400 million)
Chevy Volt (taxpayers basically own GM)
Solar Trust of America ($2.1 billion federal loan guarantee – now bankrupt)
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.
And, Obama hopes you’ll believe this is a success story.