Energy is necessary to run this machine we call The United States. And, once upon a time, the United States had plenty of cost effective energy. But when this President was elected, America’s engergy was the wrong color. It wasn’t green enought. Energy policy from this Administration has been disastrous. But, did you see the propaganda piece from his Department of Energy that was released yesterday? It’s called, “Beyond Solyndra: How the Energy Department’s Loans are Accelerating America’s Transition to a Clean Energy Future.” It’s a real piece of work. In it, The Department of Energy explains how “the conversion to a clean energy future” has been a rousing success. All the slide show is lacking is the Disney animators, a soundtrack, and James Earl Jones to narrate it, and we would have a full blown blockbuster fairy tale.
The Solyndra debacle is quickly glossed over with the words, the “Department’s loan portfolio as a whole is having a transformative impact.” We would agree. The Department has transformed our country into a third-world unemployment morass and “loaned” money to crony greenies, transforming them from unfeasible and economically impossible, to having plenty of our tax money to waste. One of the slides talks about “Recognitions and Validation from the Private Sector.” In that section, the Department of Energy sights three companies as “successes” and trots them out as examples of the success of the loan guarantees. One of the companies is Beacon Power. Beacon Power took a $43 million Department of Energy stimulus loan guarantee. Beacon filed for bankruptcy in October, 2011, one year after getting the loan. We paid off the loan because the Department of Energy guaranteed the loan with our tax money. Beacon Power…great energy success here, no doubt! By the way, Beacon’s bankruptcy came just two months after Solyndra’s bankruptcy which cost us $535 million. Another success story cited is, battery maker, A123. A123 received a $249 million stimulus GRANT plus another $14 million in research GRANTS. No middle-man here. Just direct gifts from the Department of Energy. And what did A123 do with the money? Well, they took a private company public. The shares opened to trading at $19.60 (which is what the owners were paid), but the shares today hover around a dollar. King Barry decreed that by 2015 there would be over a million electric cars on the road, but his powers of prognostication are lacking. Consequently, the market for A123 batteries was/is far smaller than projected by The Department of Energy. And, oh yes, the batteries A123 did produce were faulty and had to be replaced. This is exactly the sort of thing that demonstrates why an academic who has no understanding of business and the marketplace should not be allowed any position where his/her ignorance (lack of experience) will cost taxpayers money. Then the propaganda piece mentions Fisker Automotive. Now, here is another real success story for the Department of Energy. Fisker received a $529 million ATVM stimulus loan from the Department of Energy. According to an ABC News report, Fisker used the first $169 million in taxpayer funds to bring to market the Karma, a flashy $100,000 hybrid sports sedan that it assembles in Finland.” Wait, did you say, “Finland?” I thought our President was all about creating jobs in the United States. I thought he castigated “big business” for shipping jobs overseas, but I guess his words don’t apply to green energy buddies. Joseph Goebbels was the propaganda minister for the Third Reich. His skills were truly remarkable. I can’t help but wonder if the creator of this Department of Energy propaganda piece studied Goebbels in college. Turning a nightmare into a fairy tale is a neat trick and the Department of Energy did their best. We can’t wait to hear the end of the Obama fairy tale. After November 6, we can all live at least a little happier ever after knowing he can no longer make it worse.