Tag Archives: Scandal

News

A third Obama-subsidized green energy firm is bankrupt after $118.5 million loan

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CNS News explains how well stimulus spending stimulates the economy.

Excerpt:

 The third federally subsidized green energy company to declare bankruptcy seems to indicate a pattern, said Rep. Cliff Stearns, chairman of the House Energy and Commerce subcommittee on oversight and investigations.

“One bankruptcy may be a fluke, two could be coincidence, but three is a trend,” Stearns said in a written statement. “Our investigation continues, and we are working to ensure taxpayers never are never again stuck paying hundreds of millions of dollars because of the administration’s risky bets.”

Ener1, which makes batteries for electric vehicles, announced Thursday it had filed for Chapter 11 bankruptcy protection. The company had been awarded a $118.5 million from the Energy Department through the American Recovery and Reinvestment Act, better known as the stimulus.

The Obama administration has already been under fire for a $535 million stimulus-funded loan it made to California-based solar panel company Solyndra, which filed for Chapter 11 bankruptcy protection last fall before being raided by the FBI. The House Energy and Commerce Committee has been investigating the Solyndra loan.Also late last fall, the Massachusetts-based Beacon Power, green energy storage plant that got $43 million in stimulus funds, filed for Chapter 11 bankruptcy protection.

Ener1 announced the Chapter 11 filing one year to the day that Vice President Joe Biden visited a Greenville, Ind. plant on Jan. 26, 2011.

If we want the economy to do well, then we need to elect someone who understands free market capitalism – not a socialist community organizer. Let the private sector create jobs. They know how to compete. They know how to survive. They know how to give customers what they want. They know how to be efficient.

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News

Navy buys fuel for $15 per gallon from Democrat-connected green energy firm

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I found this Hot Air story on Right Wing News. Hot Air was at the top of John Hawkins’ list of the top 40 conservative blogs.

Excerpt: (with links removed)

This is going to help the Defense Department weather looming budget cuts, for sure.  Teaming up with the Department of Agriculture (which has a cheery Rotary Club ring to it), the Navy has purchased 450,000 gallons of biofuel for about $16 a gallon, or about 4 times the price of its standard marine fuel, JP-5, which has been going for under $4 a gallon.

You won’t be surprised to learn that a member of Obama’s presidential transition team, T. J. Glauthier, is a “strategic advisor” at Solazyme, the California company that is selling a portion of the biofuel to the Navy.  Glauthier worked – shock, shock – on the energy-sector portion of the 2009 stimulus bill.

The Navy sale isn’t Solazyme’s first trip to the public trough, of course.  The company got a $21.8 million grant from the 2009 stimulus package.

See, this is why we need to vote for lower and lower taxes. The more money that you give the government to spend, the more likely they are going to waste it buying votes and rewarding their supporters and fundraisers. Do you think that a private company could waste money like this, and stay afloat? No way – they have competitors to worry about. If they waste money, then they will go out of business. However, the government can just spend the money with abandon – it just gets added to the national debt. Eventually, the young people, who vote for for Obama in droves, will have to pay the money back. This will be hard for them to do given the fact that many of them are growing up without two parents supporting them, and often without a good education. What a mess. Leave the money in the hands of the private sector schools and private sector job creators – they actually have to care about pleasing customers and reducing wasteful spending.

Let’s do a quick review of more instances of stimulus spending.

What exactly was he trying to stimulate? His 2012 election campaign?

By the way, check out John’s list of the top 40 blogs – I am number 40.

News

Fast and Furious’ goal was to undermine legal firearm ownership

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From Investors Business Daily.

Excerpt:

Newly obtained documents show that the Bureau of Alcohol, Tobacco, Firearms and Explosives discussed using its covert operation Fast and Furious to argue for new rules about gun sales. We told you so.

[…]As CBS’ Sharyl Attkisson reports, emails show ATF officials discussed using the deliberate transfer of weapons to Mexican drug cartels to justify a new gun regulation known as “Demand Letter 3.”

We say deliberate because congressional testimony by ATF agents demonstrates how the tracking of Fast and Furious weapons stopped at the border and that requests to interdict the weapons transfers and arrest the gun traffickers were denied by higher-ups.

Demand Letter 3 was so named because it was the third ATF attempt to have Southwest gun shops report all long-gun (rifle or shotgun) sales to the ATF — even those to law-abiding American citizens with all the proper registration and other forms.

On July 14, 2010, five months before Terry’s murder, ATF Field Ops Assistant Director Mark Chait emailed Bill Newell, the ATF’s Phoenix special agent in charge of Fast and Furious: “Bill, can you see if these guns were all purchased from the same (licensed gun dealer) and at one time? We are looking at anecdotal cases to support a demand letter on long-gun sales. Thanks.”

On Jan. 24, as the ATF was preparing to announce arrests in Fast and Furious, another email showed Newell saw it as an opportunity “to address multiple sales on long guns issue.”

After the press conference, Chait emailed Newell that in “light of our request for Demand Letter 3, this case could be a strong supporting factor if we can determine how many multiple sales of long guns occurred during the course of the case.”

You can read the news article from CBS News right here. The headline is “Documents: ATF used “Fast and Furious” to make the case for gun regulations”.

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