Government Integrity Project

'Democratize' Just the Latest Phony Campaign to Sell Renewables

solar panelsThe survival of wind and solar energy, like electric vehicles, is wholly dependent on coerced wealth transfers by government from the private sector (i.e., taxpayers) to the renewable industry. This distorted “economic sector” could only exist under political practices such as Communism at worst, and crony-favoring corporate welfare at best.

Tesla to Target Rich, Environmentally Conscientious Rednecks?

Obama and MuskTesla CEO, Elon Musk, seems to have reached cult status with green ideologues, as well as with many in the media. Musk's name often goes hand in hand with descriptive monikers like "visionary" and "genius." Of course, what Musk is really a genius at is getting politicians to fund his private businesses ventures with taxpayer money so they don't have to make a profit.

It might be time to step back and ponder just how genius Musk's latest idea is; which is for Tesla to compete with Ford's best selling F-series trucks by offering up an electric pickup truck.

Corruption Surrounds World Bank Loan for Argentina

American Argentine moneyThe United States is broke. The federal government has to borrow 40% of each dollar it spends. We send billions to lending institutions, most of all, the World Bank, to which the American taxpayer is the biggest contributor. Yet this debt load may be on the verge of increasing. The government of Argentina currently is demanding a $3 billion loan from the World Bank. Argentina makes for an unreliable debtor. Burdened by decades of corruption, nationalization and devaluation, Argentina has a long history of refusing to pay its debts.

Senate Republicans Block Mel Watt FHFA Nomination; White House to Try Again

Rep. Melvin WattNorth Carolina Democratic Congressman Melvin Watt has a dream job: running a federal agency that controls around $5 trillion in financial assets. For now, he'll have to keep dreaming about it. On October 31, the Senate, by a 57-41 margin, fell three votes shy of the 60 votes needed to invoke cloture (i.e., end debate) over President Obama's nomination of Watt as director of the Federal Housing Finance Agency, which for over five years has been conservator for mortgage giants Fannie Mae and Freddie Mac. Republicans, with two exceptions, voted to filibuster, believing he wasn't qualified to run the agency. Yet the main problem with Watt is less his qualifications than his view that FHFA should be a permanent agency, and one with favoritism toward nonwhites.

Problems Pile up for Taxpayer-Subsidized Tesla

Tesla Tenn fireFires, faulty drive units, financial losses and stock price deflation marked Tesla Motors news in a week that seemed as bad as the last couple of years were good.

Fortunately for CEO Elon Musk and his support staff he’s mastered the art of celebri-preneur showmanship that he’s built enough standing with the media to endure a really bad week. The multi-billionaire who’s dazzled with innovation at Paypal, SpaceX and SolarCity will be permitted his stumbles because of his track record and his self-assurance. Henrik Fisker, whose taxpayer-backed luxury electric auto company didn’t get nearly the same favor, must be jealous.

SPECIAL REPORT: The Carnahan Wind Deal: Crony Capitalism in Missouri

Carnahan Wind Deal coverIn this 23-page report, NLPC Associate Fellow Fred N. Sauer looks at Wind Capital Group (WCG), a St. Louis-based company that has been the recipient of Obama administration stimulus funding, as well as other significant tax credits and subsidies.

WCG was founded in 2005 by Tom Carnahan, son of the late Missouri Democratic Governor Mel Carnahan and his widow, former Missouri Senator Jean Carnahan. He also is the brother of former Missouri Secretary of State Robin Carnahan and former Congressman Russ Carnahan.

Inspector General Says DOE Hid Vital Info from Audit of Bankrupt Ecotality

Blink chargerAfter an Inspector General’s audit earlier this year of now-bankrupt electric vehicle charging company Ecotality, which determined that millions of taxpayer dollars were wasted in a nearly unworkable program, the IG has returned with findings that the Department of Energy withheld information about the project’s problems during his first investigation.

The audit, released by DOE IG Gregory Friedman in July, determined (among other things) that the persistent weak demand for electric vehicles harmed the deployment and timeliness of a $135 million-plus taxpayer funded charging network, which led to excessive grants and project expansion that became virtually unusable under the grants’ guidelines. Investigators discovered that conditions for reimbursement to Ecotality for the EV charging demonstration project were “very generous” and that cost-sharing requirements were extremely lenient.

Chevy Volt Sales Plunge; Cost to Taxpayers $15 Million in October

Volt and AkersonGeneral Motors had another disappointing month of sales for its much-hyped green wonder-car in October. Sales for the Chevy Volt plunged over 31 percent from last year, down to 2,022 units for the month. To put that number in perspective, Toyota sells that many Toyota Camrys in about two days. Or, GM is selling less than one Volt per Chevy dealership per month.

Alternative Bulbs: Another Phony Market Propped Up by Govt Mandates, Subsidies

Obama SwobodaEntrepreneurs in industries tied to the energy efficiency gambit, justified by the climate change House of Cards, all have the same false bravado: they are “game changers” and “market leaders” (for products nobody wants); all their squandered revenues are “investments;” their technological breakthroughs are always “just around the corner;” and it just takes one more round of mandates/grants/loans/tax breaks to achieve viability in the free market.

New Tesla Fires, Old Volt Ones Explained, Not Absolved

Tesla fireTesla’s once-Teflon Tony Stark Elon Musk, the adored Paypal/SpaceX/electric-car innovator who’s been showered with unmitigated media praise and highly inflated stock values, has another lithium ion battery fire to explain.

This one happened after a Model S crash in Mexico. The last one happened less than a month ago in Kent, Wash. Since then Tesla’s share price has fallen from $193.90 on Sept. 30 to $160.58 this afternoon. The irrational exuberance that made the electric automaker the darling of Wall Street has now become merely excitable, although still unjustifiably so. Even Musk himself told Bloomberg last week, “The stock price that we have is more than we have any right to deserve.”

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