After the Department of Energy announced this week it had given up on not-bankrupt-but-should-be Fisker Automotive, and will auction off its loan for a pittance, you’d think (and hope) Congress would have had enough of this kind of thing. Senator John Thune certainly has.
“The Obama administration has gotten into the business of picking winners and losers at a significant cost to taxpayers,” said the South Dakota Republican yesterday. “I’m calling for the Senate to consider my amendment to eliminate the wasteful ATVM loan program and for my colleagues to join me in protecting taxpayer dollars from any future risky green energy investments.”
Then in mid-August Ecotality informed the Securities and Exchange Commission it was in deep financial trouble, with bankruptcy a possibility. A filing showed that the company was unable to obtain additional financing and the DOE had ceased payments to it for the EV Project until the agency could investigate further. DOE also warned Ecotality to not incur any new costs or obligations under the EV Project.
Two of the most egregious offenders were subject to withering scrutiny, although it didn’t last long enough to get very deep. Lisa Jackson, the former EPA Administrator whose FOIA-evadable email address was under the alias “Richard Windsor” – named in part for her dog – was questioned about a message sent to Siemens vice president Alison Taylor in which she asked her to “use my home email rather than this one when you need to contact me directly….”
Being an Obama administration stimulus failure doesn’t mean you have to be electric, and it also doesn’t mean the Department of Energy won’t pretend you’re still legitimate when Congressional pressure is on.
Thirteen years ago a former executive chef/kitchen manager launched an environmentally friendly cleaning products company to compete with industry giant Ecolab, his former employer, where he had worked and achieved the position of district sales manager.
In a sign her troubles have undergone a significant expansion, the Washington Free Beacon reported last week that former EPA Administrator Lisa Jackson has hired a lawyer as new details of her use of private email accounts to conduct official government business were revealed.
The agency and its previous head have still breathed easy despite months of inquiries and Freedom of Information Act requests from Chris Horner of the Competitive Enterprise Institute and American Tradition Institute. Jackson and enviro-crats have been shielded by colleagues’ efforts to block access to records, delay their delivery, or conceal damning information with redactions. Nevertheless the indefatigable Horner has continued to pepper the agency with new requests from new angles almost every time he discovers a new hint of malfeasance revealed from previous requests.
Another fiscal quarter has passed and if you consume most of the mainstream and/or pro-renewable energy media, it’s been another consecutive financial smashing success for luxury plug-in maker Tesla Automotive.
That is, if you don’t subtract the buyer’s federal tax credit for each vehicle, or the California emission credits sales scheme, or state tax credits and incentives, or subsidies for battery manufacturers. Also, it’s great for Tesla and CEO Elon Musk if you disregard Generally Accepted Accounting Principles.
If you can swallow all that government market distortion, taxpayer largess and books-cooking, Tesla’s Model S is finally taking off!