Obama’s Pet Project is Failing and Now They Want What?!?
<<< Google-Owned Solar Company Requests $540 Million Bailout To Help Pay $1.6 Billion Loan >>>
…WSJ online – November 18, 2014…
We were told that this solar power plant would produce 1 million megawatt hours in the first 8 months of this year, but has produced only about 25% of their promised output (despite being build in the Mojave Desert!). And now they want a $539 million bailout from the government (i.e. paid for by you and me and our grandkids). (Go here for this info.)
President Obama touted the Ivanpah solar power plant, the largest solar power plan in the world in a 2010 radio address, saying that this plant would produce 1,000 jobs and provide power for 140,000 homes. He even trumpeted the plant as a victory because he was able to push it through in spite of Congressional Republican opposition.
That’s right, he helped create clean energy jobs and reduce dependence on foreign oil! He said that clean energy technology would create “hundreds of thousands” of jobs in the clean energy industry. In the words of Dr. Phil, “How’s that workin’ for ya?”
So, now, a company owned by Google, NRG Energy, and Brightsource want a $539 million dollars because they haven’t produced enough power to pay off their construction loans. Never mind that the companies that own this solar energy plant have more cash than economies of whole countries! And their justification is not even that they need the money, but that the money is available!
Hmmm… Let me get this straight: you’ve got the money, but, because you made a bad investment and you see an easy out at someone else’s expense, you think, hey, I’ll go for it. Is that right?
This kind of ludicrous issue of government being in bed with big business is one of the things that frustrates Tea partiers and people who actually care about government accountability and leaving our children and grandchildren a legacy beyond debt that they can’t conceivably ever pay off.
Is this the kind of transparency that we were promised when we were told that this would be the most transparent administration ever? Because this transparency doesn’t look like a free-flowing pipeline of information; it looks suspiciously like a pipeline greased with our money and the sweat of our collective brows to pay for someone else’s screw-ups.
I don’t get a bailout when I make a bad investment. They shouldn’t get one either.