From Watt’s Up With That ? blog. (H/T Bad Blue)
Excerpt:
In the continental USA, there were 137 high temperature type records versus 857 low temperature type records this past week , a 6-1 difference. Last week there were 1154 low temperature type records putting the two week total for October at 2011. There were also 24 new snowfall records set this week in the upper plains.
Remember, the whole reason Obama was so keen to reward his campaign fundraisers who own green energy companies that are now bankrupt was because of the fear of global warming.
Remember Solyndra, the solar panel maker?
Look:
Eight months before solar panel maker Solyndra filed for bankruptcy, the company’s politically connected backer sought to hold on to lucrative tax breaks in the event the company went out of business, according to court documents.
The new information was revealed on Wednesday by the U.S. Internal Revenue Service, which filed an official objection to Solyndra’s bankruptcy reorganization plan.
The failure of Solyndra, the company President Obama held up as an example of government backing for renewable energy jobs, is a political weapon for Republicans ahead of the November elections as they highlight energy policies more favorable to fossil fuels.
[…]Solyndra’s bankruptcy plan could prove a further embarrassment to the administration if it is seen rewarding risk-driven venture capitalists ahead of unsecured creditors such as suppliers and laid-off staff.
In its court filing on Wednesday, the IRS opposed Solyndra’s plan. If approved by creditors, a holding company would emerge from bankruptcy with no employees or business operations – but as much as $350 million in tax breaks that could be used by Solyndra’s investors, including Argonaut Ventures.
Argonaut is the investment arm of a foundation tied to the Democratic fundraiser, Oklahoma billionaire George Kaiser. Most of the tax breaks would come in the form of Net Operating Losses (NOLs) which could be used to offset future taxable income.
Meanwhile, under the bankruptcy plan Solyndra’s creditors would receive pennies on the dollar, the IRS said, adding that the principal purpose of the plan is “tax avoidance.”
[…]The IRS cited emails from Kaiser to one of the venture firm’s managing directors.
[…]Solyndra has said in recent court filings it may not be able to repay any of the $528 million that the U.S. government had lent in 2009 to promote clean energy businesses.
Republicans have seized on Solyndra’s failure to accuse the White House of rushing the $528 million loan in part to help the venture capital backers. The Obama administration has said the loan was based on the merits of Solyndra’s business prospects.
Global warming fraud, cronyism and corruption. And they did everything they could to block domestic energy production, like blocking the Keystone XL pipeline and all the thousands of jobs that would have created. Do we really need four more years of this?
WINTERY KNIGHT 