Tag Archives: Nuclear

How well did Obama’s green jobs spending work out for taxpayers?

From Investor’s Business Daily.

Excerpt:

As solar panel manufacturer Solyndra was sliding into a long-predicted bankruptcy, Energy Department officials began negotiations with the company and two of its main investors about restructuring its $535 million loan to keep afloat the business that was supposed to be a good investment.

Under the restructuring agreement, Solyndra’s private investors were moved to the front of the line and taxpayers were put on the hook for at least the first $75 million if the company should default. Subordinating taxpayers to private investors in recovering loan money is an “apparent violation of the law,” according to Fred Upton, R-Mich., chairman of the House Energy and Commerce Committee.

During hearings last week, Rep. Steve Scalise, R-La., and other Republicans noted that the Energy Policy Act of 2005 says obligations, or loan guarantees, shall not be subordinated to other financing.

In other words, taxpayers get first dibs on any money recovered and private investors take a number.

Why was the Solyndra loan restructured in this way? Was it because a major donation bundler for President Obama’s 2008 campaign was also a principal investor in Solyndra? Is that why the administration ignored repeated warning’s of Solyndra’s insolvency?

A 2009 report by the Energy Department’s inspector general warned that DOE lacked the necessary quality control for the $38.6 billion loan-guarantee program. In July 2010, the Government Accountability Office said DOE had bypassed required steps for funding awards to five of 10 loan recipients.

[…]Solyndra was the third U.S. solar manufacturer to fail in a month. SpectraWatt Inc., a solar company backed by units of Intel Corp. and Goldman Sachs Group Inc., filed for bankruptcy protection Aug. 19, and Evergreen Solar filed Chapter 11 on Aug. 15.

Other failed companies receiving stimulus funds include Mountain Plaza Inc., which took $424,000 in grants to install “truck stop electrification systems” so truckers could plug in and shut off their idling diesel engines, and Olsen’s Crop Service and Olsen’s Acquisition Co., which were handed $10 million.

[…]The administration claims that as a whole this loan guarantee program, which was supposed to create 65,000 jobs, was a success, creating or “saving” some 44,000 jobs. An analysis by the Washington Post says the actual number of permanent jobs created is 3,545.

[…]Even if you accept the administration’s questionable job accounting, divide the $38.6 billion by 65,000 and ask yourself if the administration is spending your money wisely — or honestly.

The Obama administration has already spent about half of the 38.6 billion set aside for Democrat cronies. I mean green energy. If you divide 17.5 billion by 3,545 jobs created, that’s $5 million per job. That’s sound Democrat fiscal policy. Bible-thumping morons like Sarah Palin and Michele Bachmann could never think of intelligent policies like spending $5 million per job created. To get to that level of intelligence, you need to have degrees from Columbia and Harvard Law School (grades never released). And to vote for Obama’s policies, you need to be smart enough to watch the Jon Stewart and Stephen Colbert on the Comedy Channel, and think that it’s news.

So we took billions of dollars out of the private economy, in order to punish those evil oil companies and coal companies, and we spent it on magic beans – sold to us by Obama’s Democrat cronies. Instead of lowering energy prices, Obama’s policies have resulted in higher energy prices. Was this unexpected?

Actually, for anyone who was paying attention, Obama made clear that he was OK with higher energy prices before he was elected in 2008.

And that’s what we got:

Gas Prices under Obama and Bush
Gas Prices under Obama and Bush

Only two kinds of people voted for Obama in 2008 – the people who were informed about Obama’s record by watching Ed Schultz and Rachel Maddow on MSNBC, and the people who were about to receive stimulus grants for the green energy companies. The people who think that Michael Moore tells the truth about health care, and that Al Gore is an authority on climate science. The people who think that the New York Times is unbiased news.

Ron Paul in Iowa debate: Iran should be allowed to develop nuclear bomb

The best clip from the Thursday night Republican primary debate.

From NewsMax.

Excerpt:

Iran should be allowed to have a nuclear bomb, Republican candidate Ron Paul suggested during Thursday’s presidential debate.

The maverick Texas Congressman also said it was time to stop the half-century old embargo on Cuba and all troops should be brought home.

His comments brought scorn from rival candidates. Michele Bachmann said she would do everything in her power to prevent Iran becoming nuclear.

Rick Santorum said “Iran is not Iceland, Ron. “It’s been at war with us since 1979.

“Anyone who suggests Iran is not a threat to this country is not seeing the world very clearly.”

Paul said it is natural for Iran to want a bomb as it is surrounded by countries such as India, Pakistan and Israel which all have one and with China, the United States and Russia all involved in the region. He said the U.S. should not get involved in the country’s internal affairs.

Consider this recent article on Iran’s weapons development, from Investors Business Daily.

Excerpt:

Tehran’s navy deploys ships to the Atlantic capable of launching long-range missiles. This is not a joke. This is a dress rehearsal for the day an EMP attack ends our way of life.

‘Is it possible for us to witness a world without America and Zionism?” Iran’s Mahmoud Ahmadinejad asked at “The World Without Zionism” Tehran conference in 2005. “But you had best know that this slogan and this goal are attainable, and surely can be achieved.” He added that Iran had a “war preparation plan” for, as he put it, “the destruction of Anglo-Saxon civilization.”

Electromagnetic pulse, or EMP, is not a subject familiar to most Americans. But it’s quite familiar to the Iranian military.

It’s been practicing for the day when an Iranian missile tipped with a nuclear warhead lifts off from a vessel parked in international waters off our shores, the warhead detonating high above the American heartland, sending electromagnetic waves rippling across the American landscape, frying every electronic circuit within range.

In a July 18 statement, Rear Adm. Habibollah Sayyari said the Iranian navy plans on deploying warships in the Atlantic Ocean as part of a program to ply international waters.

Two days later, another Iranian rear admiral, Seyed Mahmoud Mousavi, revealed for the first time that his navy has equipped a number of its logistic vessels and units with long-range missiles.

The squadron will be equipped with the Nur missile, which is based on China’s long-range Silkworm C-802 anti-ship cruise missile and has a 125-mile range and 365-pound warhead.

It is not these ships and their missiles that threaten us, but what comes later as they use these forays to gain experience operating far from Iranian shores.

A simple Scud missile, with a nuclear warhead, could be fired from an inconspicuous freighter in international waters off our coast and detonated high over the U.S.

It would wreak devastation on America’s technological, electrical and transportation infrastructure. Masked as a terrorist attack, Iran would have plausible deniability of any responsibility.

Iran has practiced launching and detonating Scuds in midflight, launched from ships in the Caspian Sea. It’s also tested high-altitude explosions of its Shahab-3 ballistic missile, a test consistent with an EMP attack.

The warhead need not be of a staggeringly high yield — nor must the missile have an intercontinental range.

“One nightmare scenario posed,” according to Peter Vincent Pry, an expert on EMP who sits on a congressional panel looking into the threat of such a weapon, “was a ship-launched EMP attack against the U.S. by Iran, as this would eliminate the need for Iran to develop an ICBM to deliver a nuclear warhead against the U.S. and could be executed clandestinely, taking the U.S. by surprise.”

Iran has previously called for Israel, our ally, to be “wiped off the map“.

Excerpt:

Leaders around the world on Thursday condemned a call by Iranian President Mahmoud Ahmadinejad that Israel be “wiped off the map,” and a top Iranian official said that mass demonstrations in his country on Friday would rebuff the rising criticism from abroad.

“I have never come across a situation of the president of a country saying they want to . . . wipe out another country,” British Prime Minister Tony Blair said at a summit outside London of the 25 leaders of the European Union’s member states.

Blair said Ahmadinejad’s comment was “completely and totally unacceptable.”

In a joint statement, the E.U. leaders “condemned in the strongest terms” the Iranian president’s call, saying it “will cause concern about Iran’s role in the region and its future intentions.” President Jacques Chirac of France told reporters that Ahmadinejad risked Iran “being left on the outside of other nations.”

Russia’s foreign minister, Sergei Lavrov, in Israel, called the Iranian president’s statement “unacceptable.”

The statement was widely reported in the Arab world; leaders there reacted for the most part with silence. Most Arab countries have no diplomatic relations with Israel. But the Palestinian negotiator, Saeb Erekat, said, according to the Associated Press: “We have recognized the state of Israel and we are pursuing a peace process with Israel, and . . . we do not accept the statements of the president of Iran. This is unacceptable.”

U.S. and European leaders have grown increasingly worried about the bellicose attitude of Iran at a time when it is pursuing a nuclear program that they have said may be intended to produce a nuclear weapon.

Iran is also sharing weapons technology with North Korea.

Is Ron Paul right to want to let Iran have nuclear weapons and long-range missiles? Does he understand modern weapon systems? Is he aware of the threats that Achmadinejad has made to Israel and the United States? Is he aware of Iran’s military interference in Iraq? Does he understand how Iran influences Syria, which is now imitating Iran in shooting innocent people in the streets? Is he letting facts influence his ideology?

Senate Republicans fight to block Democrats from imposing energy tax

From the Wall Street Journal. (H/T Marathon Pundit)

Excerpt:

The Environmental Protection Agency debate lands in the Senate this week, amid the makings of a left-right coalition to mitigate the agency’s abuses. Few other votes this year could do more to help the private economy—but only if enough Democrats are willing to buck the White House.

This moment arrived unexpectedly, with Majority Leader Harry Reid opening a small business bill to amendments. Republican leader Mitch McConnell promptly introduced a rider to strip the EPA of the carbon regulation authority that the Obama Administration has given itself. Two weeks ago, Mr. Reid pulled the bill from the floor once it became clear Mr. McConnell might have the 13 Democrats he needs to clear 60.

[…]A vote to overrule the EPA is also needed to remove the regulatory uncertainty hanging over the economy. This harm is already apparent in energy, where the EPA is trying to drive coal-fired power out of existence. The core electricity generation that the country needs to meet future demand is not being built, and it won’t be until the EPA is bridled. This same dynamic is also chilling the natural gas boom in the Northeast, and it is making U.S. energy-intensive industries less competitive world-wide.

As the EPA screws tighten, the costs will be passed along to consumers, with the same damage as a tax increase but none of the revenues. Eventually, the EPA plan will appreciably lower the U.S. standard of living. Hardest hit will be the middle-American regions that rely on coal or heavy industry, though the EPA bulldozer will run over small businesses too. The Clean Air Act, once the carbon doomsday machine has been activated, won’t merely apply to “major” sources of emissions like power plants or factories. Its reach will include schools, farms, hospitals, restaurants, basically any large building.

It’s not enough that the Democrats caused the recession through their affirmative action mortgage lending to unqualified borrowers, now they have to go and pass an energy tax, too. Not to mention their efforts to block domestic energy development, which only makes prices go higher. When will they learn?