An electric truck manufacturer that was awarded $32 million from President Obama’s stimulus program has informed one of its investors that it is on the verge of bankruptcy, if it did not raise $4.5 million by Friday and $10 million by the end of October.
Tagged: Department of Energy
Touted as “America’s first offshore wind project,” Cape Wind became one of America’s most high-profile and most controversial wind-energy projects. Fourteen years in the making, estimated at $2.6 billion for 130 turbines, covering 25 square miles in Nantucket Sound off the coast of Massachusetts, the Cape Wind project has yet to install one turbine—let alone produce any electricity.
In a May 23, 1977 column for Newsweek, titled “A Department of Energy?” the late Nobel laureate economist Milton Friedman wrote: “Do not be misled into supposing that the energy problem is a purely technical problem that engineers can solve.”
A nation without adequate energy production is a nation in decline and that has been the President’s agenda since the day he took office in 2009. He even announced his war on coal during the 2008 campaign even though, at the time, it was providing fifty percent of the electricity being utilized.
I started covering some of the shenanigans from the solar industry last summer when I wrote about the “Green Tea Party” in Georgia. I had no idea what a can of worms I’d opened. In September, I wrote about the net-metering battle taking place in Arizona—and pointed out the national implications of what was playing out there. The following month, I addressed, what I believe, is an organized effort by the industry, to co-opt the language of the free-market/conservative/limited-government thinking population in an effort to convenience them that government-mandated and -subsidized solar energy was a good thing. Last month I warned consumers of solar scams in a column I wrote titled “Clouds on the solar horizon.”
As Energy Secretary Ernest Moniz announced last week a renewed push to provide $16 billion in taxpayer-backed loans for “clean” technology vehicles, more bad news emerged from another stimulus-funded electric vehicle company over the weekend.
Last week AAA released findings from tests it had run on three models of electric automobiles, and announced that the heavily subsidized vehicles suffer dramatic driving range loss in both cold and hot temperatures.
The news wasn’t new, but apparently the broader media noticed because the pronouncement from the nation’s largest consumer automotive club made it official. NLPC (beginning with a Consumer Reports experience) has reported from time to time on such problems since late 2011. The Tulsa World reported that AAA found driving distance for electric vehicles can be diminished up to 57 percent in extremely cold temperatures, and by one-third in very hot temperatures.
If Leslie Stahl of ’60 Minutes’ had read the entire list of Obama-backed taxpayer-funded green-energy projects that have gone bust—let alone those that are circling the drain, she would have truly been fatigued.
“If you like your health plan, you can keep it,” is the Lie of the Year, according to PolitiFact. But Barack Obama has been operating under an even more momentous lie for his entire presidency.
We are weeks away from being fully immersed in the 2014 election cycle. Predictions abound, likening the 2014 cycle to 2010—when the House flipped from Democratic to Republican. Only this time, it is the Senate that has the potential to change. Twenty of the 33seats up in 2014 are currently held by Democrats—more than half of whom are in trouble.
Transparency, honesty and conclusive findings have been mostly absent from lithium ion battery incidents that affect the transportation sector. Taxpayers have been forced to heavily “invest” in this stuff and they deserve the truth.