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THE Large “GREEN” SCAM IS BLOWING UP
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Obama’s Solar Nightmare
By Ed Lasky
The Democrats have been busy the final two years, and not just reengineering the healthcare market, restructuring the auto sector, assaulting Wall Street and the economic sector, harming our public finances. They have also been attempting to transform America’s power industry at our expense. This is Barack Obama at his worst — selecting losers and winners by individual whim, donations for dollars bargains, and ideological zeal.
Who have been the losers and who have been the winners? And have the winners just been taking the taxpayers for a ride while their guy has been driving the bus — with taxpayers sitting in the back?
The Obama administration has attempted to kill off the oil industry. Offshore moratoriums have been unilaterally imposed by executive orders and justified employing scientific panel research that have been misrepresented-if not distorted- by the administration. The drilling permitting method has been afflicted with sclerosis. Federal lands are becoming significantly less and much less available for development.
Obama does not like carbon he boasted throughout the campaign that he would bankrupt coal power plants and that his policies would necessarily increase the cost of power. Those words had been ignored by significantly of the media, in thrall to the man they so wanted to win. When the rapture swept journalists into ecstasy who cared about little details here and there about Obama’s agenda?
He attempted and failed to get a cap and trade bill by means of Congress. He warned that if that effort failed he would do another end run around Congress and rely on his Environmental Protection Agency to do his dirty perform.
Who knows? Possibly Obama has personalized his gripes and made them the basis of public policy. We know how he feels about George Bush and Dick Cheney — each with powerful ties to the oil business. Maybe he just does not care for the South exactly where significantly of our carbon wealth is identified — a Republican redoubt that he might have just written off as a political wasteland for him.
Hence, gas costs approaching dollars a gallon — and this is not but the summer season driving season that normally boosts gas rates as demand increases.
This cost hike may make New York Occasions columnist Tom Friedman gleeful. He considers high priced gas (and Chinese authoritarianism) the answer to all ills. He writes column after column on these subjects from the baronial splendor of his properties (right here is a photo of a single of them he earned his fortune, by the way, by marrying it). Undoubtedly, he salves his conscience concerning the carbon footprints of his properties with checks to buy carbon credits — and writes more columns castigating us for our addiction to carbon.
But I digress.
How else have the Democrats been trying to alter our power sector? By the old-fashioned way: changing the rules of the game (as noted above) and then utilizing our tax dollars to enrich green schemers. The grand champion of spending boosts by Barack Obama and the Democratic Congress has been a 1014% increase in spending for the "Energy Efficiency and Renewable Power Plan." Then there is anything known as the Green Jobs Labor Fund-which did not even exist prior to 2009 and has received hundreds of millions of dollars.
But wait…there is far more.
A lot of the stimulus money also went toward funding green schemes, and one particular of the key beneficiaries have been solar energy promoters. These are, in the words of Washington Post columnist Robert Samuelson, "pipe dreams." Numerous of the promoters and hucksters behind these "ventures" have chummy relationships with Democrats-as will be covered below.
How are these solar dreams playing out? As nightmares, at least for taxpayers.
The newest to turn off the lights is a Massachusetts venture promoted by its Governor, Deval Patrick.
From the Boston Globe:
Evergreen Solar Inc. will eradicate 800 jobs in Massachusetts and shut its new factory at the former military base in Devens, just two years right after it opened the enormous facility to wonderful fanfare and with about million in taxpayer subsidies.
The business announced yesterday that it will close the plant by the finish of March, calling itself a victim of weak demand and competitors from less expensive suppliers in China, exactly where the government supplies solar companies with generous subsidies.
Evergreen itself has a factory in Wuhan, China, built in collaboration with a Chinese organization, Jiawei Solarchina Co. Ltd., and with money from a Chinese government investment fund. The company had previously stated it would shift some production from Devens to the Wuhan plant but yesterday was the initial time it mentioned Devens would be closed.
The Devens closing is a key hit to Governor Deval Patrick’s efforts to make Massachusetts a hub of the emerging clean-energy industry. The administration persuaded Evergreen to develop at Devens with a package of grants, land, loans, and other aid originally valued at million. The company ended up taking about million, a single of the largest aid packages Massachusetts has supplied to a private organization, and the governor was the featured guest at Evergreen’s ribbon-cutting in July 2008.
Governor Patrick had been criticized in the course of his re-election campaign for providing help to the plant throughout a time of financial anxiety. He ignored the criticism and plowed ahead. He and Barack Obama shared far more than plagiarized speech lines and campaign strategist David Axelrod.
There are claw-back provisions allowing the state to recover some of the lost cash. But these are largely window dressing. Officials admit the terms are so complex and generous that any recovery will be only a token quantity. Company officials agree.
This is, of course, an outrage. Income is fungible. Evergreen utilised its own money to expand in China, took taxpayer dollars to take a fling in Massachusetts, and when that venture failed, just closed the doors and walked away. What a deal! Taxpayers take the risk. If the venture had succeeded, the business and its promoters and investors would have pocketed the gains when it failed, they just walked away with nary an ounce of obligations to taxpayers. Were the lights, at least, run on solar power?
The landscape of America will be littered with these green scheme boondoggles going belly-up right after gorging at the pig trough filled by American taxpayer dollars. One more taxpayer subsidized solar cell maker shut down lately in New York, for example.
Solar power subsidies have helped bankrupt the Spanish economy, and the very government officials who have peddled these schemes are backpedaling furiously to keep their jobs as their taxpayers rise in revolt. The government is slashing subsidies left and appropriate, but may possibly currently be as well late to save their economy. Meanwhile, at least one particular Spanish solar energy company has found a short-term bandage to slow its fiscal hemorrhaging — the American taxpayer. Democratic Congressman Paul Kanjorksi, who was not reelected in November, has a nephew who "worked" for the Spanish solar company Abound. Somehow this foreign organization was blessed with a 400 million dollar federal grant. Abound will most likely join its rivals in Spain into ruin — the Spanish landscape will be littered with uneconomic solar power plants that will bear far more than a tiny resemblance, metaphorically speaking, to the windmills of Miguel Cervantes Don Quixote.
Even the Spanish media have warned America that Obama is driving America off the green energy cliff. Other European governments are slashing solar tariffs as rapidly as they can as they to save themselves from drowning in red ink.
Does any person believe that Barack Obama listens or that this self-declared "student of history" would learn from the Spanish tragedy? Did he listen to Larry Summer time, his own resident genius (who not too long ago left the administration) when Summers highlighted a study from the OMB and Treasury Division that found severe troubles with the "economic integrity of government assistance for renewables"?
Only in Washington would a term such as ‘economic integrity" be utilised to describe a fiscally foolish program that will lead to enormous troubles in the future.
This tsunami of bankruptcies is headed our way.
Numerous of the execs and investors behind these green schemes are Democratic donors and those who have toiled in Democratic party politics for years. Solyndra was an additional solar scheme that received 535 million dollars in federal tax dollars. The "investment" was extensively touted by the Obama administration. The firm was chock-full of investors and executives who have been generous Democratic donors and activists. One particular of its most significant investors was a massive bundler for the Obama-Biden campaign.
Solyndra also closed one particular of its plants and laid off workers soon after gouging on the aid .
But wait… there is far more. The hucksterism runs rampant.
Solyandra’s auditor could not concern an opinion that would have permitted the company to go public and for its investors to money out. The explanation? Solyndra was so badly run that doubts were raised relating to its potential to continue as a going concern. The backers may possibly have lacked significantly as investors and scientists. But as crony capitalists, they excelled.
A cloud is passing over these solar schemes.
They are inefficient boondoggles. They create electric energy at a price vastly a lot more high-priced than electrical energy generated by organic gas (a relatively clean-burning fuel), hydro, coal — and of, course, nuclear. But the Obama administration and Democrats in Congress are on a crusade to foreclose the use of these fuels to power our nation. The Democrats are "enemies" (to use a word Obama has utilised to describe opponents) of organic gas improvement (see my column Cheap All-natural Gas and its Democratic Enemies ) want to blow up dams kill coal — the EPA is on a rampage against Massive Coal and choke off nuclear energy plants by stopping the development of a repository for nuclear waste. We are becoming force-fed green schemes like so a lot spinach Michelle Obama may possibly forcing down our gullets.
Solar energy plants are inefficient and can not survive on their own. As an alternative, they survive by virtue of an IV flowing from taxpayers to tax-takers. Eventually, reality catches up to fantasy and they close. Solar stocks are losers in the stock industry, that harsh judge of economics.
Death panels would be greater employed to evaluate the values of these ventures, not the worth of our lives.
Considerably of the stimulus funds, as properly as the Department of Energy spending budget, went toward these renewable green energy schemes. A quarter of a billion dollars (chump alter in Washington but true cash to us who are paying for it) went to fund a weatherization system in Obama’s hometown of Chicago that was marked by fraud and shoddy work. That is but just 1 instance.
The solar energy schemes will turn out to be 1 vibrant, shining instance of liberal politics run amok. We will be paying the cost for these schemes and boondoggles for years to come. Meanwhile, the Chinese are pleased that we are in hock to them as we borrow billions to pay for these fantasies and schemes. They also advantage given that numerous of the green jobs that Obama touts take place to be in China — a nation that may possibly be violating Globe Trade Organization rules when it exports solar panels (never believe the hype with regards to China and solar power they will sell us uneconomic solar panels but meanwhile, back at home, burn huge amounts of coal to fuel their developing economy).
The government is a notoriously bad investor when it comes to clean power. Barack Obama and his band of zealots have really small true world business expertise — and seem to disdain free of charge enterprise. But this green power crusade could have more than just ideological zealotry fueling its drive. Recall, Obama likes to choose winners and losers, and not just in basketball tournaments.
He hails from Chicago, after all.
Darrell Issa, now chairman of the Home Oversight and Government Reform Committee, will investigate these green power projects and get to the bottom of how we have been ripped off by green schemers and their close friends in higher locations. He has currently announced that 1 item on his agenda will be how the Obama administration has spent our cash. He could have misspoken a bit when he referred to as the Obama administration the most corrupt in history, but corruption there has been and he is ideally positioned to ferret it out and to avoid it from happening in the future.
Issa made his fortune making and promoting Viper car alarms.
He does not care for wrongdoers, and neither must we simply because we, the taxpayers, are the ones being ripped off.
Ed Lasky is news editor of American Thinker.
LOL HEY KIDDIES THIS IS HOW Global WARMING Genuinely Operates (OR Global WARMING Simply EXPLAINED FOR Straightforward People)
www.youtube.com/watch?v=cdxaxJNs15s