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White House Races to Lend Billions in Climate Funds Before Election
Wall Street Journal ^ | August 31, 2024 | Scott Patterson and Amrith Ramkumar

Posted on 09/01/2024 4:48:57 AM PDT by karpov

The $400 billion federal clean-energy lending program that has faced criticism for moving too slow is stepping up efforts to push cash out the door before the election.

The Energy Department’s Loan Programs Office was turbocharged by the 2022 Inflation Reduction Act, which gave it hundreds of billions of dollars to lend to clean-energy businesses. So far, it has only used a tiny fraction of that capacity.

Biden administration officials fear that if Donald Trump is elected, the office would stop making loans. The program was largely dormant while Trump was president.

“The election is everything,” said Adam Forgie, the Democratic mayor of Turtle Creek, Pa., where a startup making zinc batteries for energy storage has opened a factory at the site of an old Westinghouse plant that shut down in the 1980s. The closure was part of a manufacturing-industry collapse that destroyed thousands of jobs in Pittsburgh and surrounding areas like Turtle Creek.

The startup, Eos Energy, has a nearly $400 million commitment from the loan office that was announced a year ago to expand the factory and create several hundred jobs. “Hopefully whoever wins understands the need for business in this town,” Forgie said.

Eos Chief Executive Joe Mastrangelo said the company is working as fast as possible to get the deal done soon.

Under the Biden administration, the program has agreed to lend about $6.5 billion to five companies. It made $24.9 billion in commitments for loans to new companies such as Eos that haven’t gotten final approval. It had more than 200 active applications for $281 billion in loans at the end of July.

The pace of loan commitments has accelerated recently.

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Crime/Corruption; Government
KEYWORDS: arrestbiden; bidencrimefamily; cleanenergy; conjob; energy; followthemoney; globalwarminghoax; ira; kamalaprecursor; misappropriation; moneylaundering; renewable; ripoff; scam; thiefinchief; whitehouse
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1 posted on 09/01/2024 4:48:57 AM PDT by karpov
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To: karpov

Where do I apply?

Silly me - I don’t have the right money-laundering apparatus to funnel the money back to the politicians and their families.


2 posted on 09/01/2024 5:16:02 AM PDT by P.O.E. (Pray for America.)
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To: karpov

They want to raid the till before they leave!!


3 posted on 09/01/2024 5:16:21 AM PDT by SMARTY (In politics, stupidity is not a handicap. Napoleon Bonaparte I)
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To: karpov

Rushing b/c the end is near for Democratic democracy?


4 posted on 09/01/2024 5:16:25 AM PDT by existentially_kuffer
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To: All

1 create a fake green corporation
2 apply for a big federal loan of taxpayer money
3 receive the big federal loan of taxpayer money
4 embezzle all the taxpayer money
5 declare bankruptcy
6 go to step 1


5 posted on 09/01/2024 5:16:52 AM PDT by SteveH
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To: karpov

Payoffs to supporters. Pure graft.


6 posted on 09/01/2024 5:21:40 AM PDT by circlecity
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To: karpov

Print Print Print Print Print Print

Dollar becoming worthless

“ The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”

Vladimir Leni


7 posted on 09/01/2024 5:30:41 AM PDT by Vaquero (In Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you. )
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To: karpov

LeniN


8 posted on 09/01/2024 5:31:34 AM PDT by Vaquero (In Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you. )
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To: karpov

Their climate crisis is the biggest SCAM EVER


9 posted on 09/01/2024 5:34:05 AM PDT by butlerweave
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To: karpov
The Executive branch has no authority to spend taxpayer money. Yet, we see over and over again that it finds ways to do just that - i.e., spend the taxpayer's money.

The House and the SCOTUS are complicit in allowing the perversion of roles between the Executive, Legislative and Judicial branches.

Our nation has so drifted from the spirit and letter of our Constitution - the Founders would not recognize today's so-called Constitutional republic.

Is it possible to recover governance under the Constitution as originally intended? If so, it will take a miracle.

10 posted on 09/01/2024 5:46:24 AM PDT by JesusIsLord
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To: SteveH

Solyndra, N ^th iteration ,
And another ‘big f’ing deal’
Lend with no strings attached, free money.


11 posted on 09/01/2024 5:47:09 AM PDT by Recompennation (Don’t blame me my vote didn’t count)
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To: SMARTY

Time to pay off old friends.


12 posted on 09/01/2024 6:00:56 AM PDT by FreedBird (O)
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To: butlerweave
Agree 100%. It's an experiment...just like the Covid vaccine and "solutions" do more harm than good.

Shutting down the country by governors...was not just justified by any measure.

13 posted on 09/01/2024 6:12:23 AM PDT by Sacajaweau (mY)
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The swamp is really sick. Eisenhower tried to warn us.


14 posted on 09/01/2024 6:15:41 AM PDT by imabadboy99
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Claw it all back after Jan 21, 2025. And use some of those 87000 new IRS agents to audit every single one of the recipients to see how they used the money - with appropriate charges laid for misuse.


15 posted on 09/01/2024 6:23:36 AM PDT by curious7
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To: karpov

Didn’t give out Obama’s $1 billion for a zero emissions coal fired power plant that never happened ?


16 posted on 09/01/2024 6:28:31 AM PDT by butlerweave
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To: karpov

So many Solyndras, so little time


17 posted on 09/01/2024 6:29:50 AM PDT by silverleaf (“Inside Every Progressive Is A Totalitarian Screaming To Get Out” —David Horowitz)
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To: karpov

The greatest heist in the history of mankind...
The lawyers of DC are nothing but a gang of crooks.!


18 posted on 09/01/2024 6:33:54 AM PDT by unread (I pledge allegiance to the flag of the United States of America, and to the REPUBLIC..!)
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To: All

White House Races to Lend Billions in “Climate Funds” Before Election?
Mmmmmm.......this means Kamala is about to announce another huge donation from “ActBlue.”


Reference: FEC data gathered by truthteller @OKeefeMedia reportedly linked one Democrat donor’s name to a conspicuous “830 donations” to ActBlue. The Democrat monitors her bank statements, so she knew what she had actually donated, and was outraged, seeing her name falsified by ActBlue on federal documents.

How ActBlue pulls off massive fraudulent Democrat donations:
<><>they collude w/ politicians to setup money laundries
<><>Lends Billions in “Climate Funds” Before Election?
<><>DHS gives Millions of tax dollars to “Sanctuary Cities,”
<><>Biden hands billions of tax dollars to Zelensky
<><>a percentage of the “do-good” federal money is deposited offshore
<><>crooked legerdemain manipulates the federal money into the ActBlue data base,
<><>they then falsify federal documents,
<><>Actblue lists the money as having been “donated” by eligible donors,
<><>ActBlue does this without the knowledge or consent of the listed donors.


19 posted on 09/01/2024 6:35:54 AM PDT by Liz (Faith is believing what you cannot see; its reward is to see what you believe. St Augustine)
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To: karpov

I’m sick of those commie bass turds using my tax dollars to get their corrupt and crooked azzes elected. Nasty piggies.


20 posted on 09/01/2024 7:01:32 AM PDT by FlingWingFlyer (Liberals are FOS. The greatest threat to "democracy" is "immigration". Stupid morons.)
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