Skip to comments.Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!)
Posted on 01/29/2012 12:41:03 AM PST by ApplegateRanch
Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.
I foresaw this spate of bad news last November. As I explained yesterday,
In a previous post, I compared renewable energy spending in the 2009 Stimulus to a green albatross burdening the President. I argued that Stimulus spending was inherently wasteful, because politics invariably corrupts governments investment decisions. The result is taxpayers losses on bankrupt companies that existed only by the grace of political favoritism, a la Solyndra. I predicted the green stimulus would haunt the President, in the form of a slow drip public relations nightmare, as a litany of bad investments go belly-up in the run up to the 2012 elections.
Mr. President, are you still sure you want to double down on renewable energy giveaways?
Cuing up *Another One Bites The Dust*
The only thing Green about these companies was the millions of greenbacks thrown at them by Mr Stimubama....
Money laundries, pure & simple.
Ask and you shall receive
Kinda, could make one thankful for the hold on wind projects in the state. The only thing better would be an outright cancellation, of stupidity, that’s spelled “windmill projects”.
If we can’t defeat this guy with this, shame on us.
We’ll probably find that there was a “kickback” component associated with each of these “investments”, just as with Solyndra.
Remember, the stimulus was touted as an emergency measure that had to be done to save the economy.
The left’s defense of this fiasco has been that, for each “investment” that failed, there were many that were succeeding. This argument is evaporating rapidly. They’re all failing.
Worse, it’s all been done in the name of the CO2 hoax.
Biggest theft in history.
These were never suppose to be viable companies, they were payoffs for election support and to appease the econazis.
The Steven Chu solution admittedly drives gasoline up to around $8.00 per gallon until green energy is even a player. Electric, gas, and heating oil also have to experience a 300% rise to even the playing field, assuming capacity problems are solved.
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