Posted on 10/22/2022 5:51:18 AM PDT by rktman
Back in the days of Barack Obama, he handed out billions of dollars to solar and wind power projects.
The Chicago Tribune noted that just one of them, the "Solyndra scandal," cost taxpayers at least half a billion dollars.
That solar panel company got $535 million from the government, "with the help of the Obama White House," over objections from federal budget experts.
"Obama and Vice President Joe Biden got a nice photo op. They got to make speeches about being 'green.' But then Solyndra went bankrupt. Americans lost jobs. Taxpayers got stuck with the bill."
Now, it seems Biden is pulling that page from his history for a potential do-over.
Just the News reports a total of $530 million was dispatched by the Biden administration to Ascend Elements and 6K Inc. to support "battery manufacturing, recycling, and material processing for the electric vehicle market."
The report warned the Biden administration has plans to send a total of $2.8 billion to 20 companies.
"U.S. Democratic Sens. Edward J. Markey and Elizabeth Warren and U.S. Reps. Jim McGovern and Seth Moulton hailed the move that will support the companies based in North Andover and Westborough," the report explained.
(Excerpt) Read more at wnd.com ...
This demonstrates the wrong and right way to make government contracts.
The right way is through open bidding. For example, when the US Army wanted new .45 caliber pistols, hundreds of gun makers all over the US submitted their prototypes and offers of price per unit. After a *tough* competition, one gun maker was chosen. The rest flooded the market with their guns, getting new technology out there at lower than normal prices.
The wrong way is the Democrat way. Obama approached some cronies in businesses *similar* to solar panels, and offered usually just one of the a huge amount of money to first, *develop technologies that didn’t exist*, and then produce the solar panels. Utter failure.
To start with, creativity doesn’t work that way. And because the cronies were as disreputable as their bosses, the first thing they did was to kick back a lot of the money to Democrat campaigns. Second, they hired a lot of political apparatchiks. Third, they ordered their scientists to do the impossible. And fourth, they did their Initial Public Offering, to lure in as many sucker investors as they could.
Out of the dozens of such contracts, *none* of them produced squat. At a huge cost of money.
At least 10% will sonn be on its way back to BIG GUY!
Bkmk
Don't know what the EV users did.
Maybe this:
There's also this:
You do know those $12 million dollar waterfront estates on Martha's Vineyard don't pay for themselves.....
Don't you?
A ‘reverse tornado’.
MONEY goes DOWN the hole instead of up in the air.
Dominion voting machines for a start-————
Solyndra scandal act two there is no system in place to handle all electric vehicles nor will they ever be.
Step right up folks and see the two headed tree armed man found in...................................................
Three card Monte open new stand pipe dreams instructions.
It is not Biden. He is not handing out anything. All he is doing is trying to find his way off the stage. Who exactly is it running the show?
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