NLPC readers by now have learned there is more than meets the media’s eye when it comes to the Obama administration’s “Green” initiatives, and specifically, the government-subsidized electric vehicle program. Particularly egregious might be how American taxpayers have helped save a troubled EV company in the United Kingdom for its burdened investors.
At nearly $2 billion a year, the U.S. Department of Housing and Urban Development's HOME Investment Partnerships Program for the last two decades has produced housing for low-income households in the form of block grants to state and local government agencies. Yet a growing number of critics say its main legacy is a long trail of unfulfilled promises. The Washington Post once again has provided fuel for this view. A month ago the paper published a follow-up article to a lengthy May expose, revealing that about 75 projects have spent a combined $40 million "with little or nothing built." This is on top of the roughly 700 projects receiving $400 million in federal subsidies that the Post earlier identified as delayed or abandoned. HUD once again is insisting that HOME overall is a success. And Congress once again, justifiably, is highly skeptical.
General Motors has announced it is buying back Chevy Volts from any purchasers who are concerned about safety risks associated with the vehicle. NHTSA is currently investigating fires that occurred after crash tests of the vehicles when the volatile lithium-ion batteries ignited days after the tests. Any buybacks of the vehicles sets the stage for wealthy purchasers to take advantage of lax rules for the $7,500 tax credit available on the vehicle. Essentially, many purchasers can return their Volts and then go ahead and apply for the credit, even though they do not currently own the vehicle and received a refund of what they paid for the car.
It’s another day, and another round of layoffs by a recipient of millions of dollars under the Obama Administration’s renewable energy initiatives, administered by the mismanagedDepartment of Energy.
This time the Recovery Act largesse – taken out of the hide of taxpayers – went to A123 Systems, Inc. The Massachusetts-based energy storage company was given $249.1 million to help launch two battery-manufacturing plants in Michigan. A123 also received grants and tax credits from the state that could total more than $135 million. In a separate federal grant as a subcontractor for another grantee, A123 received nearly $30 million for a wind energy storage project.
Coca-Cola’s just-announced holiday campaign to supposedly protect Arctic polar bear habitat – highlighted by the company changing its iconic red cans to white – is ending, with the company killing off its new packaging two months earlier than planned.
No, Coke hasn’t seen the light on its disguised support for the global warming hoax. The images of polar bears will instead appear on redesigned red cans, after many consumers mistakenly grabbed the white cans believing they were selecting the silver-canned Diet Coke.
The competition in corporate America to show who is “Greenest” or “most sustainable” has spun out of control, with the Alinskyite effect that drives corporations to spend vast amounts of time and money trying to address the whims and requests of every Leftist niche group that waves some kind of scorecard in their faces.
Many articles written over the past year have questioned if President Obama will be able to reach his goal of having a million electric vehicles on US roads in 2015. A more important fact has been overlooked. That is, even if we get a million EVs on the roads in four years, we will have done practically nothing to reduce oil consumption in America. To be more specific, we will reduce consumption by approximately 0.15%. Is it worth the billions of taxpayer dollars spent producing controversial vehicles like the Chevy Volt in order to lessen foreign oil dependence four years from now by 0.15%?