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Obama Vows to ‘Double Down’ on Green Investments Despite Solyndra and Volt Flop

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posted on Feb, 24 2012 @ 06:11 AM
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Obama Vows to ‘Double Down’ on Green Investments Despite Solyndra and Volt Flop

He says he will double-down even without Congress !!

He will do it "Himself" !!

He is defying the fact that many "projects" have either declared bankruptcy or are having financial problems.
(a dozen or so are having trouble with the money, 6 are already in bankruptcy !)

And perhaps He is even in denial about possible corruption being involved.
(I wonder about Barry sometimes, I really do !)

He even says that the long history of oil company subsidies is long enough !!
(perhaps so, but then I presume he assumes it's OK to keep buying oil from foreign cartels !)


February 23, 2012 -- CNS News

(CNSNews.com) – Despite some green energy failures, such as the bankrupt Solyndra solar panel company and weak-selling Chevy Volt, President Barack Obama said that he wanted to “double down” on green energy spending, and would do what he could even without Congress to subsidize these companies.

Obama’s assertions, at the University of Miami on Thursday, come after numerous reports of green energy firms that received large sums of federal loans and grants but which have either declared bankruptcy or hit financial problems. In his remarks, Obama sought to draw a contrast between subsidies to green energy firms and $4 billion in tax breaks for oil and gas companies


The Volt, Chevy’s entry into the government-subsidized electric vehicle market, came in as the third worst product flop of 2011, behind only Netflix’s disastrous Qwikster service, and a much-derided push-up bikini bra for preteen girls from Abercrombie & Fitch.

The Volt is a Jolt


Amazing to say the least.

“With or without this Congress" seems to be the order of the day lately !!



“The payoffs on these public investments don’t always come right away. Some technologies don’t pan out; some companies will fail,” Obama said.
Brilliant deduction Watson !!


He's acting like we the taxpayers owe these crooks a living or something !!


Well at least say "Thanks" to the taxpayers !!

I say: "Thanks But No Thanks" !!



edit on Feb-24-2012 by xuenchen because:





posted on Feb, 24 2012 @ 06:56 AM
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reply to post by xuenchen
 


As a tax-paying American, I'm okay with that.
New technology takes investment and time to perfect.
I'm sure the opponents of the Manhattan Project probably said something along the lines of "that damned fool, wasting taxpayer dollars playing with rocks in the desert."

I want off oil; it's inefficient and dirty and we've been under the thumb of those that control it for long enough.

Will every experiment be a success? No. But, eventually one will be, and it will change the world.

Do you want the Chinese or the Russians to be the one to make that discovery?



posted on Feb, 24 2012 @ 07:10 AM
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Before Obama even started this green jobs program, Spain sent them a copy of their report as to how it was working out for them and it wasn't pretty. Yet, Obama totally ignored it. Here's what an analysis of Spain's report had to say on why it wasn't working. Full 42 page report attached below.


Unsurprisingly for a governmental take on a flagship program, the report takes pains to minimize the extent of the economic harm. Yet despite the soft-pedaling, the document reveals exactly why electricity rates “necessarily skyrocketed” in Spain, as did the public debt needed to underwrite the disaster.

This internal assessment preceded the Zapatero administration’s recent acknowledgement that the “green economy” stunt must be abandoned, lest the experiment risk Spain becoming Greece. The government report does not expressly confirm the highest-profile finding of the non-governmental report: that Spain’s “green economy” program cost the country 2.2 jobs for every job “created” by the state. However, the figures published in the government document indicate they arrived at a job-loss number even worse than the 2.2 figure from the independent study.


pjmedia.com...

Here's a link to the full report that I think everyone should take the time to look over.

"STUDY OF THE EFFECTS ON EMPLOYMENT OF PUBLIC AID TO RENEWABLE ENERGY SOURCES"

www.juandemariana.org...
edit on 24-2-2012 by Deetermined because: (no reason given)



posted on Feb, 24 2012 @ 07:17 AM
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reply to post by madhatr137
 


So you say that corruption and rookery will solve the problem.

Thanks but no thanks.

Send your donations to:

U.S. Treasury,
1600 Pennsylvania Ave.
Washington D.C.

Green energy = green backs (as in 100 dollar bills)

In the meantime, take a number and have a seat in the unemployment line over there.



posted on Feb, 24 2012 @ 07:19 AM
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Originally posted by madhatr137
reply to post by xuenchen
 


As a tax-paying American, I'm okay with that.
New technology takes investment and time to perfect.
I'm sure the opponents of the Manhattan Project probably said something along the lines of "that damned fool, wasting taxpayer dollars playing with rocks in the desert."

I want off oil; it's inefficient and dirty and we've been under the thumb of those that control it for long enough.

Will every experiment be a success? No. But, eventually one will be, and it will change the world.

Do you want the Chinese or the Russians to be the one to make that discovery?


WOW no wonder America is in the crapper. Solyndra failing had nothing to do with hiccups in the technology. Govt members and their cronies buy stock in Solyndra, same govt members give huge grants to Solyndra, Solyndra stocks go through the roof, everyone cashes out, company goes bankrupt.



posted on Feb, 24 2012 @ 07:19 AM
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reply to post by madhatr137
 



I'm sure the opponents of the Manhattan Project probably said something along the lines of "that damned fool, wasting taxpayer dollars playing with rocks in the desert."


How many opponents of the Manhattan Project were there by the way ?

It may have been top secret don't you think.

Plus that, it did not file bankruptcy, or kick and scream that they had problems.

The greenies are thieves.



posted on Feb, 24 2012 @ 07:23 AM
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Green energy = green slime

green slime has green mold all over it just like the dead batteries in the Volt.

I want my money back.

Next time we need to make these jokers put up a performance bond.

Then they can pay off the excuses for failure.






posted on Feb, 24 2012 @ 07:43 AM
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reply to post by xuenchen
 



Originally posted by xuenchen

February 23, 2012 -- CNS News


The Volt, Chevy’s entry into the government-subsidized electric vehicle market, came in as the third worst product flop of 2011, behind only Netflix’s disastrous Qwikster service, and a much-derided push-up bikini bra for preteen girls from Abercrombie & Fitch.

The Volt is a Jolt


Amazing to say the least.



edit on Feb-24-2012 by xuenchen because:



That source seems pretty biased.

I imagine I can find some biased the other way...making opposite claims, in fact:

Chevy Volt is a conclusive success for GM CEO


The GM Chevy Volt appears to become a "home run" in 2011 for its company.


It wasn't even one of the 10 worst selling cars of 2011, so I'm not sure how it's listed as the 3rd biggest flop of any product, and by extension the worst car flop...there seem to be quite a few cars that flopped more.

Forbes Biggest Car Flops 2011

But...there are always multiple sides & spins to any story.

edit on 24-2-2012 by musicjunkie because: some such



posted on Feb, 24 2012 @ 08:01 AM
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Just mind bending!! I just read that Solyndra just got approval to pay out bonuses. Really!!

Solyndra LLC, the failed solar-panel maker that got $535 million in government loan guarantees before filing for bankruptcy, won court approval to pay some of its remaining workers as much as $368,500 in bonuses.

U.S. Bankruptcy Judge Mary Walrath granted the company approval to pay the bonuses to 20 employees if they can achieve certain milestones during the bankruptcy case.

Walrath overruled objections from Solyndra’s fired workers, who argued the bonuses are for company insiders and aren’t needed for a company that’s liquidating.

www.businessweek.com...

I certainly hope a proper investigation of Solyndra and its tax payer funded handout is properly investigated. NO MORE Green investments until proper blame can be assigned and the guilty are held accountable. Obama's green game is a sham, a fraud, a joke and its all a massive part of his new budget proposal and new corp. tax cut scheme. Obama wants to play favorites and call the shots with OUR money. Congress be damned.



posted on Feb, 24 2012 @ 08:16 AM
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reply to post by musicjunkie
 


Sometimes the "biased" sources bring all the true happenings into the light.

The Volt is a sales flop.

It's a lead balloon.

Not to mention how much natural gas it takes to cremate a body killed in an accident in that death trap car.

Or how much fuel gets burned up digging graves for the victims of car crashes.
Not to mention all the gasoline cars at the funerals !

But we really don't have to worry too much.

Nobody is buying the damn things anyway



posted on Feb, 24 2012 @ 08:19 AM
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Originally posted by jibeho
Just mind bending!! I just read that Solyndra just got approval to pay out bonuses. Really!!

Solyndra LLC, the failed solar-panel maker that got $535 million in government loan guarantees before filing for bankruptcy, won court approval to pay some of its remaining workers as much as $368,500 in bonuses.

U.S. Bankruptcy Judge Mary Walrath granted the company approval to pay the bonuses to 20 employees if they can achieve certain milestones during the bankruptcy case.

Walrath overruled objections from Solyndra’s fired workers, who argued the bonuses are for company insiders and aren’t needed for a company that’s liquidating.

www.businessweek.com...

I certainly hope a proper investigation of Solyndra and its tax payer funded handout is properly investigated. NO MORE Green investments until proper blame can be assigned and the guilty are held accountable. Obama's green game is a sham, a fraud, a joke and its all a massive part of his new budget proposal and new corp. tax cut scheme. Obama wants to play favorites and call the shots with OUR money. Congress be damned.




The scum bag vermin should be Paying not receiving !

Don't put 'em in jail either.

Make the bastards work digging ditches for oil companies


That would send the message of the century to the believers.



posted on Feb, 24 2012 @ 08:25 AM
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Obama has to Double Down on everything....

Why...

Because he choose the worst freaking option to begin with and that is his plan....

Again I ask... And STILL NOT ONE ANSWER (serious).

If one set out to destory America, what would they do differently that what Obama has been doing?

I'll wait...... Tic tic tic tic tic.....



posted on Feb, 24 2012 @ 08:32 AM
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No surprise that is his brief after all to collapse the wealth creating ability of the US and bring you into line with a 'globalised' third world standard of living.

Spending vast amounts of money on schemes doomed to failure and preventingUS oil exploration and production is just par for the course.



posted on Feb, 24 2012 @ 08:34 AM
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reply to post by anon72
 




Bueller ...

Bueller ?




posted on Feb, 24 2012 @ 08:37 AM
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I haven't heard the volts a flop they are letting it loose in the worst possible place. Michigan no electric car will work here



posted on Feb, 24 2012 @ 08:45 AM
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Originally posted by xuenchen
reply to post by musicjunkie
 


Sometimes the "biased" sources bring all the true happenings into the light.



So, you must be saying my equally biased yet contradictory source is also bringing "true happenings into the light"?

The sword can be double edged.
edit on 24-2-2012 by musicjunkie because: removed a redundancy



posted on Feb, 24 2012 @ 09:41 AM
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"It's Up to The Private Sector to Invest in New Technology"


In free-market economies, decisions about whether to invest in a technology or an industry are made by market actors with private capital. The promise of profit induces investment in promising ventures and the sting of loss penalizes those investments that turn out to be misguided.

Of course, we live in a mixed economy in which government frequently assumes tasks that were once left to private individuals and corporations. Whether the government should invest in green energy suggests two questions. Are major green energy investments worthwhile in the first place? And should the Obama administration be spending $80 billion in grants and loans to make these investments on our collective behalf?

Although proponents of green energy note that the sheer enormousness of the federal subsidy effort is helping to expand green energy generating capacity, stock prices for green energy firms are in free fall, even in China, because investors understand that this industry would disappear if the lavish federal and state subsidies were to end.


www.cato.org...

So, how is the U.S. government's investment in green jobs working so far?


The "green jobs" argument most commonly marshaled is thus looking thinner by the day. Data recently released by the U.S. Department of Energy reveal that the $38.6 billion of federally guaranteed loans to green energy projects have thus far produced only 3,545 new, permanent jobs ($5 million per job), far short of the 65,000 jobs promised by the administration.

If green energy is commercially promising, then profit-hungry capitalists will make those investments.

The DOE's Energy Information Administration reports that new renewable energy power plants will continue to be far less economically competitive than new gas-fired generation plants over the foreseeable future, even after federal subsidies are taken into account.

Things look even worse in the transportation sector. The Obama administration has spent $5 billion to promote the manufacture of electric vehicles so as to put 1 million EVs on American roads by 2015. But layoffs and bankruptcies have plagued those receiving EV handouts because the technology is still problematic and the final product so expensive that consumers won't buy it, even with $7,500 rebates. Consequently, only two tenths of 1 percent of the cars sold this year were EVs, and the vast majority of those were in development long before President Obama took office. EV sales would have to be almost nine times greater per year to meet the administration's objective.


So, based on analysis, what should this tell us?


If green energy is commercially promising, then profit-hungry capitalists will make those investments. If it isn't, no amount of government subsidy will turn those economic sows' ears into wealth-creating silk purses.


How may government investment in green jobs actually hurt the industry?


Ignoring the role of the private sector.

Nowhere in CAP or the other three studies is there a discussion of the role of the private sector in their proposed green jobs programs. No consideration appears to have been given to the fact that government cannot direct the labor and capital markets more efficiently than market wage and interest rates.

In fact, history is replete with evidence that government lacks this ability. The syn-fuels program of the late 1970s is a classic example of labor and capital being pulled, at government’s direction, into lower-value uses than the industries into which market forces would have channeled them. The studies also omit any discussion of cutting the marginal tax rates on labor and capital to increase incentives to work and invest. Arguably this is the most effective, and only sustainable way to revive economic growth.


www.instituteforenergyresearch.org...



posted on Feb, 24 2012 @ 09:59 AM
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Originally posted by musicjunkie

Originally posted by xuenchen
reply to post by musicjunkie
 


Sometimes the "biased" sources bring all the true happenings into the light.



So, you must be saying my equally biased yet contradictory source is also bringing "true happenings into the light"?

The sword can be double edged.
edit on 24-2-2012 by musicjunkie because: removed a redundancy


Yes Yes.

I agree.



posted on Feb, 24 2012 @ 10:01 AM
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Originally posted by mikellmikell
I haven't heard the volts a flop they are letting it loose in the worst possible place. Michigan no electric car will work here


Well gee...

Why is that ?

Maybe because all the extension cords are not OSHA compliant ?



Or is it the cold temperatures ?



posted on Feb, 24 2012 @ 10:31 AM
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Originally posted by xuenchen

The Volt is a Jolt



To say that this source is a little biased would be somewhat of an understatement, to say the least. As "musicjunkie" clearly pointed out, one can just as easily find the exact opposite opinion from other sources.

Cybercast News Service is more than just a little biased in their reporting as is clearly represented in their motto which is; "The Right News. Right Now." Furthermore, it's founder L. Brent Bozell III and his Media Research Center, is anything but a voice from the middle. Unless you're Rush Limbaugh or Glenn Beck, you don't get to the right of Brent Bozell and even for them, it's a challenge. The mission statement for Brent Bozell's "Tell the Truth!" campaign, which he started in 2010, is "to serve as a declaration of war by the Media Research Center on the leftwing media.

Personally, I would give more credibility to a story originating from Sorcha Faal than I would anything coming out of the MRC and/or CNSnews.


That being said, I fully support the Presidents position of green energy subsidies as well as research & development in the field. The only way to secure energy independence as a nation is by cutting our dependance on oil and fossil fuels. No amount of domestic oil drilling is going to achieve that goal because all of the oil goes on the world market to be sold to the highest bidder. So the key is not to just reduce our dependance on "foreign oil," but to reduce our dependance on oil altogether.

During the beginning of the industrial age, we subsidized a much needed and emerging industry here in America known as oil drilling and production. Today, that industry has grown to become the most profitable industry in the history of the world and I believe that they can probably sustain themselves without our help. With "Peak oil" looming, common sense would dictate that we begin to invest in a new method of powering our world and there's no reason that America can't lead the way in this field. IMO, it's high time that we redirect our energy subsidies away from fossil fuel production and towards newer, more sustainable, forms of clean energy.

Clean, Green Energy is what will power the future and if we fail to recognize that truth and instead choose to remain enslaved by fossil fuel producers and their energy cartels, then we are doomed to continue sending our sons and daughters overseas to die in order to meet our energy needs.

It's clearly our choice and I for one, choose to go green & clean!
edit on 24-2-2012 by Flatfish because: (no reason given)




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