MORE GREEN ENERGY LOANS DOWN THE TOILET

5/13/13
Another Obama green company goes belly up.

Another company once considered a brilliant clean-energy venture – and supported by taxpayer money under Barack Obama’s strategy to attack coal and oil energy – has hit the big-time, being listed among the “Corruption Chronicles” at Judicial Watch, after taking some $50 million in taxpayer money.

“Another one of President Obama’s brilliant clean-energy ventures has collapsed, in this case to develop a special wheelchair-accessible ‘green’ van,” the Judicial Watch report said. The news comes just weeks after a separate company that got nearly $200 million from the government to develop hybrid vehicles folded, said Judicial Watch. “That fly-by-night company, Fisker Automotive.
The southern California Company sold only 2,000 vehicles before laying off most of its workers, following an infusion of $192 million from Uncle Sam. “Highly unlikely that any of the money will ever be recovered since Fisker is almost certainly headed for bankruptcy,” the Corruption Chronicles reported. “Last year Judicial Watch sued the Obama administration for documents related to the Fisker scandal but there appears to be a cover up of epic proportions.”
The report identified the company as Vehicle Production Group (VPG), which makes special vans for the disabled that run on compressed natural gas. ‘This project invests in a socially and environmentally responsible product that will create new jobs, promote the use of alternative fuels, and help the U.S. maintain its competitive edge in the automotive industry.’” Judicial Watch said, however, Businessweek reported VPG has ceased operations and fired almost all of its employees.
The administration has doled out hundreds of millions of dollars for a number of projects.
beyond the car industry. Remember Solyndra, the northern California solar panel company – bankrolled by Obama fundraiser George Kaiser – that folded after getting $529 million from the government?”
WND has reported that Obama’s largesse with taxpayer money isn’t limited to the United States. His administration plans to spend up to $400 million on “green” projects around the world, survey the satellite television viewing habits of Africans and simultaneously try to spark private-sector investment in the West Bank and Gaza, among other federal endeavors.
Improved access to “reliable and affordable clean energy” is the goal behind four U.S. Agency for International Development contracts targeting U.S.-designated “critical priority countries,” or CPCs, of Iraq, Afghanistan, Pakistan, South Sudan and Yemen. The $400 million figure is the maximum that can be spent over five years via “indefinite delivery, indefinite quantity,” or IDIQ, contracts awarded to Dexis Consulting Group, ECODIT LLC, International Resources Group and Tetra Tech.
Other projects are pending in Azerbaijan, Georgia, Ghana, Jordan, Romania, South Africa, and other points. Sen. James Inhofe, R-Okla., who warned Americans that if “green” agenda campaigners get their way, the biggest tax increase ever could soon be coming out of Washington. In fact, in the range of $1.2 trillion to $1.6 trillion. A year.
Science supporting the claim largely has been discredited. In the Climategate scandal, for example, emails were uncovered among scientists strategizing how to “hide the decline” in the earth’s average temperature even while they were warning about global warming. The cost to taxpayers of a cap-and-trade program was estimated to have been in the range of $300 billion to $400 billion a year. During his first term spent $68.4 billion on the global warming agenda simply by executive order. “If we were to do this now through regulation, the cost would be far greater than $300 billion or $400 billion a year … because they’d be doing it under the Clean Air Act,” he said. “That would quadruple the amount of money it would cost,” said Inhofe, making the cost in the range of $1.2 trillion to $1.6 trillion annually.
Significant emissions now are from the unregulated industries of Mexico, India and China. Another American failure story was A123 Systems Inc., the electric car battery maker that received a $249 million federal grant and then filed for bankruptcy protection after failing to make a debt payment.

Sources—wnd, judicial watch, businessweek,

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