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10/04/2013 - 08:41

Tesla fireA fire (screen capture from Jalopnik.com) that torched a Model S from the formerly Teflon Tesla Motors on Tuesday blackened its front end, lowered its stock price, and (further) revealed a corporate arrogance not seen since Fisker Karmas were alight.

But CEO Elon Musk saw to it that taxpayers were fully paid back their $465 million Department of Energy loan, so as watchdogs over the public purse we can forget all about it and just go on about our business – right?

3,362 reads
10/03/2013 - 09:20

enhanced oil recovery

On the heels of the UN Intergovernmental Panel on Climate Change’s official position that human-generated carbon dioxide is “extremely likely” the “dominant” cause of warming since the mid-20th Century, the Environmental Protection Agency’s simultaneously proposed rule to limit such emissions from fossil-fueled power plants is contradictory.

2,881 reads
10/02/2013 - 11:30

DurbinSenator Richard Durbin (D-IL) deserves credit for engaging Senator Ted Cruz (R-TX) during the Cruz's recent marathon speech critical of ObamaCare. The only problem is he misrepresented key facts about his now-deceased daughter's heart condition, and her ability to receive coverage under health insurance plans.

Moreover, he did not mention that the hospital that treated his daughter Christine was the recipient of huge earmarks of taxpayer money that he arranged. One can assume that Christine was treated as a Very Important Patient. With the full implementation of ObamaCare, will political connections become increasingly important to getting expensive medical treatments, which will not be available to everybody?

As Charles Johnson in the Daily Caller writes:

2,421 reads
10/02/2013 - 10:35

Akerson and VoltGeneral Motors reported unimpressive sales results for the month of September as sales fell 11%. Core division, Chevrolet, performed the worst with sales down almost 15% year over year. Within that division, sales for the much-hyped Chevy Volt could not even be propped up with its recent $5,000 price cut as results declined to a measly 1,766 units (less than one per dealership) in September. That is a decline of over 38% year over year and just over half of what sold in the previous month.

3,606 reads
10/01/2013 - 10:48

Ten days ago the Environmental Protection Agency issued its proposed rule for the implementation of regulations of carbon dioxide on utilities’ coal-fired power plants. Last week revealed news that there is no reason for costly government-imposed limits on such emissions, as the global warming they were supposed to cause has been absent for 15 years.

That didn’t stop the UN Intergovernmental Panel on Climate Change from issuing yet another alarm on Friday, ahead of its official report yesterday, that said increased carbon dioxide caused by people is negatively affecting the earth’s climate.

2,090 reads
09/26/2013 - 12:39

Obama discussing U.S.-Mexico partnershipA foreign power, in theory, has no authority to dictate another nation's domestic policy. But don't remind the National Labor Relations Board. Late in July the NLRB and Mexico's Foreign Ministry signed a letter of cooperative agreement to promote the rights of Mexican workers on U.S. soil, regardless of their legal status. The pact commits the board to work with Mexican consulates in notifying that country's workers in the U.S. of their rights and to investigate employer violations of labor law against their workers here.

2,441 reads
09/26/2013 - 11:43

Denver free treesNLPC has reported regularly on several of the large-ticket boondoggles that have received taxpayer support via President Obama’s “green” stimulus initiatives, but for every Fisker, Nissan Leaf or Ecotality, there are thousands of smaller, equally unworthy beneficiaries that deserve public scorn.

Government watchdogs – both “professional” and amateur – can scour the Recovery.gov Web site and find the waste pretty easily. But KCNC-TV reporter Brian Maass had the stimulus program come to his doorstep. Denver had launched a program, paid for out of the federal American Recovery and Reinvestment Act, to plant about 4,000 trees at private residences (photo courtesy KCNC) – many in high-priced neighborhoods that didn’t need the free shade.

2,501 reads
09/26/2013 - 11:02

We now have had some time to digest the groundbreaking news from General Motors that it is working on a "Tesla-Killer" electric car that will get 200 miles on a charge and cost about $30,000. The most obvious takeaway is that the news is more unfounded green hype from GM, something that they have been guilty of in the past when they over-promised on the Chevy Volt. The best indicator of how serious a challenge to Tesla the new report really is would be found in Tesla's share price, which has gone from about $165 a share at the time of the news to the current price at around $185. While that barometer would give the indication that GM is once again exaggerating the potential for its latest green miracle car, let's assume that the technology to develop a car that goes 200 miles on an electric charge at a price of $30,000 really is not too far off.

1,911 reads
Ken Boehm
09/20/2013 - 13:13

piggy bankThe financial crisis brought havoc to just about every financial institution in the country. But let's focus on the current status of state pension funds, where the crisis is beginning to look particularly grim.

Just how underfunded are state pension funds?  The estimates start at well over a trillion dollars and go up from there.  The answer depends on the observed time period, the difficulty in raising taxes on an already overtaxed public, and the severe problems in getting decent returns without taking unacceptable risks.

2,565 reads
09/19/2013 - 12:05

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.”

2,182 reads
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