Custom Search

Sunday, June 03, 2012

Obama Green Failures: The Other 18... err.... 19 Obama Failures- Update- 10/18/12, Total Now 36

by Susan Duclos

[See bottom update from 10/18/12- Now 36 failures]

Political junkies all know about Obama's Solyndra problem, the congressional investigations, the $535 million taxpayer funds that were flushed down the toilet by Barack Obama's gambling problem, and thanks to coverage of the Solyndra scandal, many Americans know about it as well. What many never hear anything about though, are the other 18, other 19,  Obama backed bad bets that have failed, are failing, filed for bankruptcy and/or laid of employees or sent jobs overseas.

Heritage provides the list: (Note- I am linking news reports to the names of the companies)

For those who only hear about these failing companies one by one, the following is a list of all the clean energy companies supported by President Obama’s stimulus that are now failing or have filed for bankruptcy. The liberal media hopes you’ve forgotten about all of them except Solyndra, but we haven’t.
  • Ener1 (subsidiary EnerDel received $118.5 million)
  • Amonix (received 5.9 million)

That’s 19 (that we know of so far). We also know that loans went to foreign clean energy companies (Fisker sent money to their overseas plant to develop an electric car), and that 80% of these loans went to President Obama’s campaign donors.

I do not see NRG on Heritage's list, but NRG Energy, loan guarantee of $1.237 billion, reported a loss of $109 million compared with a year-earlier loss of $15 million. (Source- MarketWatch)

Total 20, with 80 percent of the loans going to Obama campaign donors.

Here is the Department of Energy Loan Programs Office website.

Not only does Obama have a gambling problem, but he makes bad bets and even worse, he is using taxpayer money to make those bad bets.

Now he wants Congress to pass another $447 billion stimulus package?

Oh, Hell No!

H/T Gateway Pundit

[Update- 10/18/12] Obama's failed green gambles now total 36 companies... see HERE.