Politically-correct cronyism 2


By Tom Quiner

The Obama administration has engaged in some serious crony capitalism.

They take your money and redistribute it to politically-correct green energy companies.

The list is substantial:

√ Solyndra.

√Abound Solar.

√Beacon Power.

√ Ener1.

√ Energy Conversion Devices.

√ Evergreen Solar, Inc.

√ Mountain Plaza, Inc.

√ Olsen’s Crop Service and Olsens Mills Acquisition Co.

√ Range Fuels.

√ Raser Technologies.

√ Spectrawatt.

√ Thompson River Power LLC.

These companies all took cash from us tax-paying chumps, blew through it, and went bankrupt. However, a few green energy companies took taxpayers’ cash and managed to stay afloat, even though our “investment” was squandered.

These companies include Solazyme, Amyris, and Sapphire Energy.

Solazyme received $20 million of our money. The money was earmarked to build a refinery for automotive fuel. Instead, now they’re selling cooking oil derived from algae.

Whoops. So much for green energy.

Amris was a company backed by Al Gore and his green energy buddies. They were slated to revolutionize green energy. Something funny happened on the way to biofuel salvation: they shifted into facial moisturizes and cosmetics after spending $25 million of yours’ and mine dollars from a Department of Energy grant.

Whoops. So much for green energy.

And then there’s Sapphire Energy. The Obama Administration handed them more than $100 million of yours’ and mine dollars. But instead of coming up with a revolutionary green energy solution to free us from the shackles of evil oil, they moved into nutritional supplements, stuff like Omega-3.

Whoops. So much for green energy.

At least these companies didn’t go broke. But they successfully suckered us for a nice chunk of change to set themselves up in non-energy businesses that produce stuff at a profit, something that green energy can’t do without massive subsidies.

If green energy is so good, let the greenies get their cash from private venture capitalists, not the taxpayers.

 

2 comments

  1. I don’t mind when the government uses my money for these and other projects. They really do know what is best. It would be arrogant of me to think I could do a better job managing my own money, so I’ll keep sending it to them to decide how to put it to good use.

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