President Obama

Not Even Fisker's Fire Sale Can Dampen DOE Enthusiasm for 'Investments'

Fisker logoAfter 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.”

DOE Claims More 'Success' With Another Clean Energy Bankruptcy

Blink chargerEcotality declared Chapter 11 bankruptcy on Monday.

Compared to other Recovery Act beneficiaries that have failed – like battery maker A123 Systems and electric auto company Fisker Automotive – the deathwatch was short. A July 25th report issued by the Department of Energy’s Inspector General declared Ecotality’s EV Project largely a waste of time and misallocated money.

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.

Bailed-Out GM Takes On Tesla – With Car That Doesn’t Exist

The internet has been abuzz with stories about General Motors competing with Tesla by offering a vehicle that will get 200 miles on an electric charge and cost only $30,000. One headline even declared that GM might be the winner of the competition with the title reading, "GM Takes on Tesla- and Just Might Win." The only problem is that the car being hyped does not even exist. Nor may it ever.

House Committee Grills DOE Loan Program Director Over Secret Emails

Jonathan SilverA hearing of the House Committee on Oversight and Government Reform last week investigated the Obama administration’s practice of concealing email communications, with former top officials getting grilled about their use of private Internet accounts to conduct government business.

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….”

Volt Sales in August Cost Taxpayers Over $25 Million

Volt and AkersonIt looks like General Motors is attempting to make up for the money it loses on every Chevy Volt in volume as August sales, spurred by recent price cuts, reached an all-time high of 3,351. The fact that the car has been on the market for about three years and initial much-hyped proclamations from GM would have put sales at 20,000 per month by now goes unrecognized by those that think 3,351 vehicles is a lot of cars to sell in a month. To put the sales in perspective, it took Toyota about 2 ½ days to sell that many Camrys with August sales coming in at 44,731. Fortunately for taxpayers, Volt sales are nowhere near those figures. The 3,351 Volt sales came at the expense of over $25 million dollars of federal subsidies.

Colorado Local Govts Struggle in Wake of DOE's Abound Solar Bankruptcy

Abound logoSo here’s the legacy left in Weld County, Colorado by bankrupt Abound Solar, the crony capitalist-influenced Department of Energy, and Democrat donor/investor/billionaire-ette Pat Stryker: A financially-screwed county government, hundreds who have lost their jobs, and a big, expensive toxic mess to clean up.

But it’s no skin off the jet-setting heiress’s nose as she continues to pour millions into hard-left causes, while the locals affected by the closure struggle.

Hidden Incentives Help Drive GM Sales

Impala photoThe auto industry, including Detroit manufacturers, reported strong sales numbers for the month of August. Sales for the industry rang in at pre-recession levels hitting over 16 million units on an annualized basis. While General Motors got its fair share of the wealth, one unusual tactic to drive sales stands out. That is the use of "stair-step" incentives which are paid to dealerships in the month following the reported sales.

The Obama Green Failure Train Rolls on With Ecotality

Volt recharging photoThirteen 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.

At the end of 2004 he gave up that money-losing business and turned it over to a partner, who in the first quarter of 2006 turned it into an electric vehicle charging company run by a former hotel chain executive – a self-described “political beast” – who would heavily depend on government subsidies for the revised company’s survival.

With this dysfunctional history, is it any wonder why Ecotality is on the verge of bankruptcy?

New Energy Secretary Wants to Waste More Money on EV Loans

Ernest MonizJust when you thought the Loan Program Office in President Obama’s Department of Energy might put its unused electric auto loan money back in the Treasury coffers, the government investor-crats are going to try to find some takers for the dollars of disrepute that have been tainted by the likes of inoperative, nearly bankrupt Fisker Automotive and Vehicle Production Group.

Lisa Jackson Hires Lawyer for Email Concealment Fiasco

Lisa Jackson phptpIn 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.

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