Category Archives: Energy

THE PATIENT DIED BUT THE OPERATION WAS A SUCCESS or How to Measure Success Like a Community Organizer

Posted on October 21, 2012 | Leave a comment

Thanks to The Foundry for this report:

So far, 36 green companies that received federal support from taxpayers have either gone bankrupt or are laying off workers and are heading for bankruptcy. This list includes only those companies that received federal money from the Obama Administration’s Department of Energy. The amount of money indicated does not reflect how much was actually received or spent but how much was offered. The amount also does not include other state, local, and federal tax credits and subsidies, which push the amount of money these companies have received from taxpayers even higher.

The complete list of faltering or bankrupt green-energy companies:

  1. Evergreen Solar ($24 million)*
  2. SpectraWatt ($500,000)*
  3. Solyndra ($535 million)*
  4. Beacon Power ($69 million)*
  5. AES’s subsidiary Eastern Energy ($17.1 million)
  6. Nevada Geothermal ($98.5 million)
  7. SunPower ($1.5 billion)
  8. First Solar ($1.46 billion)
  9. Babcock and Brown ($178 million)
  10. EnerDel’s subsidiary Ener1 ($118.5 million)*
  11. Amonix ($5.9 million)
  12. National Renewable Energy Lab ($200 million)
  13. Fisker Automotive ($528 million)
  14. Abound Solar ($374 million)*
  15. A123 Systems ($279 million)*
  16. Willard and Kelsey Solar Group ($6 million)
  17. Johnson Controls ($299 million)
  18. Schneider Electric ($86 million)
  19. Brightsource ($1.6 billion)
  20. ECOtality ($126.2 million)
  21. Raser Technologies ($33 million)*
  22. Energy Conversion Devices ($13.3 million)*
  23. Mountain Plaza, Inc. ($2 million)*
  24. Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
  25. Range Fuels ($80 million)*
  26. Thompson River Power ($6.4 million)*
  27. Stirling Energy Systems ($7 million)*
  28. LSP Energy ($2.1 billion)*
  29. UniSolar ($100 million)*
  30. Azure Dynamics ($120 million)*
  31. GreenVolts ($500,000)
  32. Vestas ($50 million)
  33. LG Chem’s subsidiary Compact Power ($150 million)
  34. Nordic Windpower ($16 million)*
  35. Navistar ($10 million)
  36. Satcon ($3 million)*

*Denotes companies that have filed for bankruptcy.

Only a government could compile such a list of economic failures.  Chalk it up to economic ignorance if you wish but that is being charitable.  Taking Solyndra and A123 as examples, considerable sums of money were legally channeled away from taxpayers, to the US Treasury, to Solyndra and A123 and their founders, to the coffers of Democratic campaign funds.  That money is not going back.

Community organizing activities are constantly in need of money to support their agenda.  We learned from the book Radical-In-Chief that community organizers consider any program that brings in money to support their activist  agenda is considered a success.  Whether or not the program accomplishes its ostensive goal, in this case green energy, is secondary.

Obama scored points for himself and all Democrats for showing moral responsibility and smart government when they heralded the financial support given these companies.  Very fewof those points were  lost when the companies and programs failed.

The Party solidified its base for at least trying to do something for the environment and raised some money for campaign funding.  It’s has been a win-win for the Party, a lose-lose for the taxpaying public.

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Posted in Energy, Environment, Opinion, Political polemics

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ANOTHER ENERGY FLOP

Posted on October 18, 2012 | Leave a comment

The troubled battery maker won a private meeting and phone call with Obama, a trade mission slot and $250 million in stimulus money before it went bankrupt this week.

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FORTY-ONE STRAIGHT MONTHS OVER EIGHT PERCENT

Posted on July 10, 2012 | 1 comment

Unemployment has been 8% or higher for the last 41 months and Barack Obama said in Ohio on Friday that the country is headed in the right direction.  If that’s the case, I have to ask just where it is he thinks we should go?

The U6 number which includes would-be workers who have given up and dropped off the stats is pushing very close to 15%.  The country hasn’t experienced such economic malaise lasting this long since the Great Depression, literally.

Increasing taxes on the rich won’t create jobs.  Adding an immeasurable cost of doing business with a health care plan when we still don’t know what’s in it won’t create jobs.  Blocking energy programs like the Keystone Pipeline and placing moratoriums on drilling in the Gulf doesn’t create jobs.  Subsidizing green energy programs like Solyndra hasn’t created any net jobs.  The Joint Economic Committee led by Congressman Kevin Brady issued a report saying that the Obama recovery now ranks dead last in modern times.  Spending stimulus, housing bailouts, auto bailouts, financial bailouts, cash for clunkers, extending unemployment benefits and $5 trillion in deficit spending left the Obama recovery dead last in modern times.

If you are a President, how do you create jobs?  You don’t.  Business creates jobs; you clear the road stand aside and cheer.  You don’t stand in the middle, over-regulate and jeer — and then blame the lack of progress on your predecessor.

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Posted in Economy, Energy, Opinion, Political polemics

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KEYSTONE and OBAMA – THE VIEW FROM CANADA

Posted on March 24, 2012 | Leave a comment

Canada has the worlds third largest petroleum reserves.  There is no cheaper way to import crude oil into the United States than by pipeline to Canada.  There is no nation with whom we are on better terms than we are with Canada.  If we maximized governmental support for exploration, production and transportation of U.S., Canadian and South American reserves, after a few years we would not need to buy one barrel of crude oil from mid-east suppliers.  In fact they would become reliant upon us for their energy needs because we have the refineries.

One Canadian broadcaster minces no words as he tells the audience his views from across the border. You can hear his strong words here.

 

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Posted in Energy, Political polemics, Regulation, Videos

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IS THERE NO SHAME?

Posted on March 23, 2012 | Leave a comment

There comes a point when the bigger and bolder the lie the harder it is to disbelieve.  There was a movie made with a scene that illustrates the point very well.  It may have been How to Cheat On your Wife with Bobby Morse, I’m not sure.  The scene starts with a man and woman enjoying each other’s company naked in bed.  The man’s wife comes home unexpectedly with grocery bags in hand and catches the pair before they can get out of bed.

The wife launches into a series of furious tirades.  Without returning a glance or uttering a word the cheating pair fly out of the sack, dress, and make up the bed.  All the time this is happening, the wife is right there screaming bloody murder at the two of them.  Shortly the bed is made, the woman is gone and the husband is relaxing in his usual chair reading the evening paper as his wife continues her angry rant.  He lowers the paper and asks “What’s the matter dear?”  His wife comes down an octave and yells something about “That #%&*  woman…” “What woman?” he asks.  “There’s no other woman here.”

The episode ends with the wife taking a puzzled look into the bedroom which appears completely undisturbed, heaving a sigh and calmly asking “What would you like for dinner dear?”  The point is if you are bold enough to tell a lie that is big enough with a face that is blank enough to a person who is gullible enough and wants to believe you enough, and then if you are dishonest enough to try it, you just may get away with it with many people.

Anyone who knows Barack Obama is President of the United States knows he has been adamantly opposed to completion of the Keystone Pipeline.  He still is.  He gave a speech in Cushing, Oklahoma declaring he is giving a fast tract to the project but the truth is he is blocking it.  Obama has approved a portion of the line over which his approval is not needed and continues to deny approval for the portion where his approval is needed.

There are sufficient oil reserves on U.S. territory to meet 100% of our domestic demand for 200 years.  Obama says repeatedly that we have just 2% of the world’s reserves and use 20% of the supply.

The Obama administration has not laid down one inch of pipeline.  Obama says he has lain so much pipeline that it would reach around the world.

Obama says domestic oil production has risen during his tenure.  That’s true.  It has risen in spite of his efforts to stop it.  Production from land subject to Federal leases has declined.  The only increase has been on private lands over which Obama has no control.

Obama specifically chose Solyndra to be the poster boy for his administration’s government green energy program.  He flew to California to give a long speech at a Solyndra plant holding the company up as one of the finest examples of what his administration is doing to reduce our dependence on foreign oil.  Now he says “this was not our program” then blames the Chinese for its failure.

Let’s hope the lies are told often enough that voters will see through them enough to throw the bum out of office.  We have had enough!

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BLOWIN’ IN THE WIND – NOT

Posted on March 13, 2012 | 1 comment

Wind power is:

Unreliable
Economically unfeasible
Incapable of ever producing meaningful volume

In can only exist with government subsidies which means an entire industry is dependant on getting money from the government for their existence.  That is never a healthy thing.  Favoritism is the kindest word to describe what this inevitably leads to.  Need I say “Solyndra”?

A company that does not need to make a profit in its own right is not a healthy thing either.  If you have to make a profit, in a free-market society you have to produce a product or service that has value beyond its price or no one will buy it.  When no profit is required, that discipline is missing.  Your continued existence is dependent on your relationship with the federal government, not on the efficacy of your product.  There is no need to add value to society.

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Posted in Cartoons, Energy, Opinion

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PERILOUS TIMES

Posted on February 15, 2012 | Leave a comment

The headlines below are un-edited from the Drudge Report on Feb. 15,2012.  I regrouped them into rough categories and dropped some punctuation, those are the only changes made.  Arranged this way the headlines paint a picture of a U.S policy to weaken itself militarily in face of rising external threats, the possibility of Iran’s promulgating a second holocaust , turning a blind eye to China’s human rights record while they conduct a vast military buildup, unabated political corruption, the direction the Arab Spring is taking, the failure of Obama’s economic policies and a growing loss of personal freedoms.

Ahmadinejad to show off new nuke facilities
Obama weighing up to 80% cut in U.S. nukes
LESS warheads than China!

GAS PRICE UP 83% DURING OBAMA
WARSHIPS SAIL THROUGH HORMUZ.
Iran Says It Will Cut Oil Supplies to 6 European Nations
US, Europe look at crippling financial lifeline.

Decision On Iran Attack To Be Made ‘By Summer’
Heightened Security in U.S. Over Iran Threat;
Police Guard Jewish, Israeli Targets.

OBAMA WELCOMES CHINA’S ‘PEACEFUL RISE’
China blocks visit by religious envoy

Canada unveils new Internet monitoring rules
Moroccan gets 3 years for anti-king video
Man jailed for ‘not having dog license’
FOOD POLICE REJECT HOMEMADE LUNCH
MAKE PRESCHOOLER EAT ‘CAFETERIA NUGGETS’
NYPD ‘Stop and Frisks’ Hit All-Time High

Mexican official: US travel warning ‘ridiculous’

REPORT: Chicago most corrupt city in USA
Issa moves to hold Holder in contempt
Another solar company goes under

BUDGET BUST: Obama’s deficit spending $17k per person, $70k per family
Towns go dark with post office closings
Flights by U.S. airlines hit 10-year low.

New Libya delegate to UN: Gays threaten ‘human race’
Egypt state media accuses US of spreading anarchy

Newspaper depicts Merkel in Nazi uniform

MEMORANDUM MACHT FREI

This photo-shopped picture of German Chancellor Angela Merkel was printed in a Greek newspaper.  The offensive image was captioned “Memorandum macht frei” a slogan relating to the Auschwitz extermination camp of World War II.

These are only the headlines, from only one publication, on only one day and it’s not even lunch time. We are indeed living in perilous times. Obama voters, are you sure you want Barack Obama in charge for four more years?

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STRAITS OF HORMUZ THREATENED WITH CLOSURE — GLOBAL ECONOMY AT PERIL

Posted on December 13, 2011 | Leave a comment

Iran has announced military maneuvers in preparation for a possible closing the Straits of Hormuz.  One third of the world’s supply of crude oil delivered by sea must go through this narrow passage between Iran and The United Arab Republics, at the base of the Persian Gulf, before the ships can reach the open waters of the Arabian Sea.

The crippling effect of a disruption in shipments lasting more than 60 days could rival that of the oil embargo in 1973.  That embargo set up the serious recession of 1974.  Long lines formed at gas stations when they had a delivery as the fuel quickly sold out.  It was difficult to find any station at all that was open on a weekend.  Iran knows the value of a threat, particularly in light of the present fragility of the international economy.  What we have here is a prime example of why stability in the Mid-East is so vital.

Not to worry.  It’s only a threat, and I’m sure our President will ask Iran not to do it.

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THE SOLYNDRA AFFAIR

Posted on September 3, 2011 | Leave a comment

Fifty thousand dollars is a lot of money for one man to contribute to a candidate’s campaign fund.  But it is money well spent if it helps you get half of a billion dollars in stimulus money to develop a company you are promoting.

Solyndra was the poster child for Barack Obama’s Green Energy Stimulus program.  In May of last year the President splashed across the news with great fanfare and with great pride as he told the nation this was his move to save the planet and create brand new jobs.  Now, less than 16 months later, the company is bankrupt and 1,100 workers were suddenly thrown out of work with no advance notice.  Furthermore, It looks like the taxpayers will be out $535,000,000.

Rich Lowry reports

In a visit to Solyndra in May 2010, President Obama called it “a testament to American ingenuity and dynamism.” He all but redefined the traditional statement of Americanness to encompass motherhood, apple pie, and the conversion of sunlight into electricity through cylindrical thin-film solar cells, the specialty of Solyndra.

Obama and Biden were literally invested in Solyndra’s success. The company got a half-billion-dollar federal loan guarantee, the first in a highly vaunted Department of Energy green-jobs program, as part of the stimulus. This was supposed to be the new economic model: government and its favored industries cooperating to lead the country into a green, politically approved recovery.

What can you expect from a business plan to make little solar panels at a cost of $6.29 per energy unit, get a government subsidy to cover half the cost, and then offer the product for sale at $3.24 in a market where the competition is selling it for $1.75?  It gets worse.  Solyndra is backed by one of Obama’s key fundraisers, George Kaiser of Tulsa, Oklahoma.  Rich Lowry says this is Obama’s Enron, Power Line blog likens it to the Keating Savings and Loan political scandal.

From the Washington Post via American Thinker

Energy and Commerce Committee Chairman Fred Upton (R-Mich.) and Cliff Stearns (R-Fla.), chairman of the oversight and investigations subcommittee, wrote to the White House, “We have learned from our investigation that White House officials monitored Solyndra’s application, and communicated with DOE and Office of Management and Budget (OMB) officials. Documents received by the Committee also show that DOE and OMB officials were aware of the White House’s interest in the Solyndra loan guarantee.”

Solyndra’s shuttering has also raised concerns about the status of tens of billions the Obama administration has invested in other renewable-energy companies.

There is one difference between Keating or Enron and Solyndra; the press is not likely to run hard with the Solyndra affair.

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RANDOM THOTS – THE COLUMN

Posted on July 16, 2011 | Leave a comment

Inflation
Don’t look now, but inflation is peeking around the corner.

We are getting a very, very sharp rebound in core inflation and much more than the Fed had bargained for.”  Eric Green, chief economist at TD Securities in New York.

Overall consumer prices were up 3.6 percent from a year earlier,   Reuters

Last months drop in gasoline prices masked the increases in everything else. The wholesale price of cheese is up 23% since year end, butter 45%. Grocers are absorbing much of the price increase but that won’t prevail very long.

The debt thing
Obama says the American public is crying out for higher taxes. It’s just stubborn ideologues in Congress who are opposed to paying more income tax. He may be 45% right. That’s the number of people who pay no taxes but still enjoy benefits paid for by those who do.

The President says Congress is ignoring the will of the people by keeping taxes down. The solution is simple; add another line to the income tax form so all the unhappy people can add whatever extra amount makes them happy.

Big oil profits
ExxonMobil’s has operations in more than 100 countries around the world. The part of the business that refines and sells gasoline and diesel in the United States represents less than 3 percent – or 3 cents on the dollar – of Exxon’s total earnings. For every gallon of gasoline, diesel or finished products the company manufactured and sold in the United States in the last three months of 2010, Exxon earned a little more than 2 cents. That’s not a typo. Two cents.

Large oil companies risk capital, have big holdings confiscated by nations, transport crude from well to refinery, refine or pay for refining and transport the final product to thousands of service stations.  For that they make about 2 cents a gallon.  Federal and State governments do none of it, yet they make an average 50.1 cents per gallon in taxes.  Then the demagogues call the oil companies rapists.

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Posted in Economy, Energy, Opinion, Randoms

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