Biden will use bureaucracy to advance green energy boondoggles

Posted: January 21, 2021 by oldbrew in Big Green, government, opinion
Tags: , ,

Would anyone serious bet against it?

PA Pundits - International

By Larry Bell ~

Remember Solyndra?

In case you’ve forgotten, it was a California solar panel developer that defaulted on a $535 million Obama-Biden administration Department of Energy stimulus loan guarantee that, along with four other bankrupted companies, collectively left U.S. taxpayers on the hook for more than $2.2 billion.

According to documents obtained by The Washington Post, the White House had pressed the Office of Management and Budget to greenlight the loan in a hurry.

In response, OMB officials reportedly expressed concern that they were being rushed to approve the company’s project without adequate time to assess the risk to taxpayers.

Energy Department and OMB analysts had reportedly questioned the wisdom of the loan which analysts determined, based upon Solyndra’s own numbers, would rapidly run out of cash.

Another of those bankruptcies involved a 2019 DOE $528.7 million loan it gifted to Fisker Automotive, a start-up company promoted…

View original post 725 more words

  1. tomo says:

    Who’s going to be the first to get caught with their arm in the taxpayer’s cookie jar up to the shoulder?

    After Solyndra resulted in no sackings – the grifters will be wetting themselves in anticipation.

  2. oldbrew says:

    Rejoining Paris Climate Deal Will Have Devastating Economic Consequences, Experts Say
    Jan 21, 2021

    Senate Republican Leader Mitch McConnell called Biden’s move a step in the wrong direction. He said the United States has “already been reducing carbon emissions while China and other nations in the agreement have kept increasing theirs.”

    “The president re-entered the failed Paris climate agreement—a terrible bargain that would set us up to self-inflict major economic pain on working American families with no assurance that China or Russia would honor their commitments,” McConnell said on Jan. 21.
    – – –
    Obsessing about CO2 leads to economic self-harm and little else.

  3. oldbrew says:

    JAN 22, 2021.
    Biden’s Green New Deal Won’t Work Without Mining, Especially For Minerals

    The Chinese near-monopoly (it was worse before Japan built a new supply chain after China blocked all rare-earth exports in 2010) is largely a creation of activist-driven US anti-mining policy.

    There are plenty of rare-earth deposits in the USA, but extracting them is not photogenic. Barnard laments the “regulatory minefield of labyrinthine local, state and federal rules” that has turned permitting into a two- to three-decades adventure in frustration.

    Over the past decades, lawmakers have all but banned mineral exploration and development on mineral-rich federal lands. The few once-active rare earth mines are now long-shuttered, largely due to high compliance costs.
    – – –
    Green New Deal Won’t Work Without Mining — won’t work, period.

  4. oldbrew says:

    Trillion dollar man has an offer…

    $40 Billion Available through Biden’s Department of Energy’s Loan Program Office for Innovative Technologies
    Thursday, January 28, 2021

    To qualify for the renewable energy or energy efficiency loans or loan guarantees, under Title XVII of the Energy Policy Act of 2005, a project must meet all of the following requirements:

    Employ new or significantly improved technologies as compared to commercial technologies in service in the United States at the time the guarantee is issued.

    Avoid, reduce or sequester anthropogenic emissions of greenhouse gases.

    Be located in the United States (foreign ownership or sponsorship of the projects is permissible as long as the projects are located in one of the 50 states, the District of Columbia or a US territory).

    Provide a reasonable prospect of repayment.

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