Obama lied about Abound Solar

Cunt Smasher

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Aug 26, 2005
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#1
Yup, even more lies.
http://completecolorado.com/stories/AboundEmails.html


***EXCLUSIVE*** MUST CREDIT COMPLETECOLORADO.COM

by Todd Shepherd

Recent remarks by President Obama to a Denver-based TV anchor stand in stark contrast to new emails obtained by CompleteColorado.com.

This past Friday, President Obama told KUSA's Kyle Clark, in response to a question on the federally-backed but failed Colorado company Abound Solar, "And these are decisions, by the way, that are made by the Department of Energy (DOE), they have nothing to do with politics."

And just one year ago, White House advisor David Plouffe had this exchangewith NBC's David Gregory regarding the political questions surrounding many of the DOE-backed projects:

DAVID GREGORY:
Were campaign contributors involved here in terms of their projects that ultimately forced the government's hand?

DAVID PLOUFFE:
Absolutely not. These decisions about the loan program were made by career officials in the Department of Energy on the merits.​

CompleteColorado.com has obtained emails that seem to directly contradict Plouffe's answer, and also challenge the President's notion that the DOE's loan decisions were universally autonomous within the agency. The emails also lend even more credence to the theory that the loan to Abound Solar was political payback to Colorado's wealthy Democratic benefactor and Gang-of-Four member, Pat Stryker.

Click email page 1 to see larger image


Click email page 2 to see larger image



In the above email thread, DOE loan executive Jonathan Silver tells DOE credit advisor Jim McCrea, "You better let him know the WH wants to move Abound forward." It appears to be a mild scolding to a Treasury advisor, Ian Samuels, who is not moving fast enough to schedule calls regarding Abound.

The second page of the email thread makes mention of "...transaction pressure under which we are all now operating..." This entire email thread happened just a few days before President Obama would hail the government-backed loans as a job creator for Colorado.

Other emails from McCrea have surfaced recently, where the advisor openly lamented his struggle with the loan program, saying, "All in all in the solar field, l think it is extremely easy to pick losers and l really do not know how to pick winners."

Another email obtained by CompleteColorado.com does even more damage to the notion of Abound's market-readiness, especially with regards to their government plan with the DOE.

Click email to see larger image


"Major Issues"...just two months before the Abound loan would be announced.

In response to these emails, Republican Congressman Cory Gardner told Complete Colorado, "These emails directly contradict what the President has told us about the loan guarantee process. He says publicly that the White House isn't involved, and the emails show this isn't true. He says the process is free of politics, which these emails also disprove. In a rush to get a good press hit, the White House has wasted hundreds of millions of taxpayer dollars."
 

mills

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Jan 30, 2005
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#3
Same shit different day.

Yeah, sure, campaign contributions are made freely with only the desire to see the country progress. Just good honest altruism. Back end? Taxpayers? How dare you.
 

Party Rooster

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#4
Sure, the administration's lackeys might go to bat for the companies, but the ultimate decision lies with career employees at DOE.
 

Neckbeard

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That green energy/solar dogshit was just a big scam for people connected to the Obamas to get hundred plus million loans and steal it all. Just about 2 weeks ago there was another one of these failed swindles, A123 Systems Inc. This loser company got a quarter of a billion to make lithium batteries for electric cars. Now they've got over 350 million in debt and declared bankruptcy. There are so many of these 8 and 9 figure "green energy" loans going tits up that it truly is staggering and a multi-billion dollar failure.

I was really surprised that when Obama was mocking Romney and insulting Romney for being invested in China that Romney didn't rattle off a 15 corporation failure list of all this politically connected green idiocy that was supposed to provide so many jobs and kick the economy in the ass and put a unicorn shitting gold doubloons and pissing whiskey in every garage.

Edit: There are over 30 companies who got grants and loans for green energy from as little as 500 grand to more than 500 million. They are all almost to a company failing. Anything here with an asterisk next to it is a company that has declared bankruptcy. I added A123 Systems as the newest, Number 35 bankruptcy failure with a 250 million dollar price tag.

  1. Evergreen Solar ($25 million)*
  2. SpectraWatt ($500,000)*
  3. Solyndra ($535 million)*
  4. Beacon Power ($43 million)*
  5. Nevada Geothermal ($98.5 million)
  6. SunPower ($1.2 billion)
  7. First Solar ($1.46 billion)
  8. Babcock and Brown ($178 million)
  9. EnerDel’s subsidiary Ener1 ($118.5 million)*
  10. Amonix ($5.9 million)
  11. Fisker Automotive ($529 million)
  12. Abound Solar ($400 million)*
  13. A123 Systems ($279 million)*
  14. Willard and Kelsey Solar Group ($700,981)*
  15. Johnson Controls ($299 million)
  16. Schneider Electric ($86 million)
  17. Brightsource ($1.6 billion)
  18. ECOtality ($126.2 million)
  19. Raser Technologies ($33 million)*
  20. Energy Conversion Devices ($13.3 million)*
  21. Mountain Plaza, Inc. ($2 million)*
  22. Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
  23. Range Fuels ($80 million)*
  24. Thompson River Power ($6.5 million)*
  25. Stirling Energy Systems ($7 million)*
  26. Azure Dynamics ($5.4 million)*
  27. GreenVolts ($500,000)
  28. Vestas ($50 million)
  29. LG Chem’s subsidiary Compact Power ($151 million)
  30. Nordic Windpower ($16 million)*
  31. Navistar ($39 million)
  32. Satcon ($3 million)*
  33. Konarka Technologies Inc. ($20 million)*
  34. Mascoma Corp. ($100 million)
Just the 3 most expensive failures is already over a billion.

From the article...

http://blog.heritage.org/2012/10/18/president-obamas-taxpayer-backed-green-energy-failures/

The 2009 stimulus set aside $80 billion to subsidize politically preferred energy projects. Since that time, 1,900 investigations have been opened to look into stimulus waste, fraud, and abuse (although not all are linked to the green-energy funds), and nearly 600 convictions have been made. Of that $80 billion in clean energy loans, grants, and tax credits, at least 10 percent (8 billion) has gone to companies that have since either gone bankrupt or are circling the drain.
 
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mills

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#7
I was really surprised that when Obama was mocking Romney and insulting Romney for being invested in China that Romney didn't rattle off a 15 corporation failure list of all this politically connected green idiocy that was supposed to provide so many jobs and kick the economy in the ass and put a unicorn shitting gold doubloons and pissing whiskey in every garage.
What's ironic is the China problem provides a legitimate (fraction of an) excuse for some of these cases. They flood the shit out of the market selling below cost. If they didn't, a lot of these companies would be fine and productive and wouldn't have to sell below cost themselves, getting crushed regardless of the hundreds of millions they get. Of course it functions as convenient plausible deniability when it comes to these business-as-usual shenanigans, it also highlights how hard it is to go up against these slants. China's a fucking juggernaut.
 

Neckbeard

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Oh, is that why for every billion handed out to an Obama supporter company that knows fuck all about green energy and goes tits up there are 8 convictions for fraud, waste and abuse?

I know the left wing LOVED to complain Halliburton and I was right there with them. This 80 billion dollar green energy pack of lies is Obama's Halliburton but I rarely hear anybody left wing, right wing or no-wing/independent talk about it. I mean, 8 billion dollars has been squandered on energy stuff, at least.
 

mills

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#9
"God forbid they should make a mistake and forget to steal" -Nicky Santoro



Pic I found in one of the links in the list you posted :haha7:



Did that thing get zapped by a tripod laser?
 
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Neckbeard

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Yeah, all those orange energy failures have links you can click to that show just how fucked up the company is. Here is the last one, a con job out in Michigan called Mascoma...
100 million from the feds, 20 million from Michigan, 4 years time...
3 jobs created.

http://www.michigancapitolconfidential.com/17123

One of the jobs created was "CEO" of the "company." He gets paid 5 million a year.

Though jobs projections and plant construction have been wildly exaggerated, the company is preparing to go public. On Sept. 16, 2011, Mascoma filed an S-1 with the SEC in preparation for an Initial Public Offering to raise $100 million.
The S-1 document shows that Mascoma has accumulated a deficit of over $135 million and a revenue stream that is 86 percent from government grants. CEO Bill Brady was paid a total compensation of $5 million in 2010.
 

NuttyJim

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I blame the Republicans. We would've achieved World Peace, had a $16 trillion surplus in the budget. It's the god damn Republicans.

I also blame Herbert Hoover.
 

Party Rooster

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#12
Oh, is that why for every billion handed out to an Obama supporter company that knows fuck all about green energy and goes tits up there are 8 convictions for fraud, waste and abuse?

I know the left wing LOVED to complain Halliburton and I was right there with them. This 80 billion dollar green energy pack of lies is Obama's Halliburton but I rarely hear anybody left wing, right wing or no-wing/independent talk about it. I mean, 8 billion dollars has been squandered on energy stuff, at least.
You do realize a lot of these companies also have Republican ties, right? They also gave to Bush. There was also strong bipartisan support from Republican lawmakers.
"Abound had strong bipartisan support — first in the form of a grant from DOE under the Bush administration, and later in the form of letters and public statements from members of Congress from Colorado and Indiana and the governor of Indiana," LaVera said.
Here's the funniest part. Aboud Solar has ties to Darrell Issa, the guy investigating a lot of these Solar failures. :haha7:

Republican ties: Abound Solar is also backed by Invus Public Equities Advisors LLC, which was co-founded by Raymond Debbane, who has donated to Republican candidates including Representative Darrell Issa. Also, Abound, formerly known as AVA Solar won part of a $60 million grant under the Bush administration.
 

Neckbeard

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Christ, anything to turn this 80 billion dollar shitpile into an equally Republican failure. Who had the green idea plan in the first place? Who wanted A123 Systems Inc and Fisker and the whole "1 million electric cars on the road by 2015" garbage? Who did Solyndra have "ties" with? When 80 billion is for the taking, some Republican wolves will be feeding with the Democrat pack, but this whole green energy shit is Obama's fuck-up and patronage system.
 

d0uche_n0zzle

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#14
When Republicans steal they tend to spread the wealth around. Irony at its best.
 

Party Rooster

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Christ, anything to turn this 80 billion dollar shitpile into an equally Republican failure.
Sorry, but don't you think it's a bit dishonest for the thread starter to shitpile it all on Obama? Not even a little blurb about what I posted? Did somebody Hack Hawk Down into Cunt Smasher's account (or CompleteColorado.com's website) and only selectively post "relevant" information for "brevity's" sake? ;)

Who had the green idea plan in the first place? Who wanted A123 Systems Inc and Fisker and the whole "1 million electric cars on the road by 2015" garbage?
A123 Systens also received a $6 million grant from the Bush administration in 2007, so Obama just inherited it from him. :cool:


Who did Solyndra have "ties" with?
I'm glad you asked.

The other investor slated to be paid back with Kaiser? A partnership affiliated with the Walton family of Wal-Mart fame, which, Grunwald also reports, leans Republican.

And that's not the only GOP tie. San Jose Mercury News scribe Dana Hull reported that Solyndra CEO Brian Harris is a registered Republican.
:action-sm

When 80 billion is for the taking, some Republican wolves will be feeding with the Democrat pack, but this whole green energy shit is Obama's fuck-up and patronage system.
Bush was also a big supporter of green energy you ninny. And looks like the DOE's portfolio is outperforming Bain Capital. :haha7:

It must be noted that despite the failures of several solar manufacturing companies that received loan guarantees from the DOE like Solyndra and Abound, the loan guarantee program overall has been successful. The failure rate is still well under the 10% set aside by Congress to cover anticipated losses. The DOE program’s failure rate is less than the average for private equity companies like Bain Capital. Mitt Romney said that Bain Capital had a failure rate of only 20% while he ran it. Perspective is always a good thing.
 

Party Rooster

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#17
Post your stupid goalie picture. You earned it.
Go have intimate relations with your mother. :action-sm

Sorry, just answering questions. When Neckbeard asks who's big idea it was to start giving money to Abound Solar and A123 Systems, I'm just enlightening him. I promise to have the Truth Steamroller back by midnight tonight dad...
 

Pigdango

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I'm not trying to mischaracterize, so correct me if I'm wrong, but have we just learned that under OAPC math, $6 million = $80 billion? Or just $6 million = $273 million?
 

Party Rooster

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When does the Bush blaming end? How about a date?
Again, just answering questions. So to answer your specific question, I would imagine on January 21, 2013 when Romney is sworn in. Then it will shift to blaming Obama and Bush will officially be off the hook.
 

Neckbeard

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6 million under Bush, 267 million under Obama. So do you say that Obama bears 45 times the responsibility that Bush does or are you trying to But Bush your way out of of this 80 billion dollar green energy con job that only benefited politically connected frauds?

 

Party Rooster

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I'm not trying to mischaracterize, so correct me if I'm wrong, but have we just learned that under OAPC math, $6 million = $80 billion? Or just $6 million = $273 million?
To answer your question, no, $6 million is .0075% of $80 billion I believe. And $6 million is about 2% of $273 million. it should be noted that President Bush Signed $25B USD in Green Vehicle Loans Into Law, so there's obviously more to that and Congress would also share in some of the blame.

I'm not about to go through every one of the ones on Neckbeard's list, but since he also brought up Fisker,

But a more interesting point is who is to blame if Fisker or Tesla does happen to lose. Certainly Congress would be to blame. And it's not just Democrats -- the loan program was first installed by the 110th Congress as a provision in the Energy Independence and Security Act of 2007. Republicans were roughly divided in half on that vote, with 19 Senate Republicans voting in favor of the "green jobs" funding and 23 voting against it.

Among the Republican backers of the funding was Republican Sen. Larry Craig (R-ID). Sen. Craig proved pivotal in the Senate debate and in later green energy debates, arguing that by voting for green energy funding the U.S. "won't let the the Venezuelas, or the Nigerias, or the Saudi Arabias, or the Irans, jerk us around by the 'gas nozzle' the way they are doing it now."

And the loan program was originally signed into law in Dec. 2007, with funding signed into law in the Fall of 2008 by President George W. Bush. So while President Obama was indeed in office in Sept. 2009 when Fisker received its loan, the loan would never have been possible without deep commitment from some members of the Republican party.

Of course, President Obama does deserve part of the credit/blame, as he continued to support and sign into law as part of the federal budget funding for the program that both parties passed into law under President George W. Bush. And the President did install certain DOE officials that were responsible for reviewing and granting the loans.

http://www.dailytech.com/Fisker+Cri...hObama+Green+Energy+Program+/article27861.htm
6 million under Bush, 267 million under Obama. So do you say that Obama bears 45 times the responsibility that Bush does or are you trying to But Bush your way out of of this 80 billion dollar green energy con job that only benefited politically connected frauds?
See above. And yeah, $80 billion is a lot more than $25 billion, but it's certainly a helluva lot more than $6 million.

And just stop. Or do you want me to go through your list and show you how many of these companies also received funding under Bush, and how many of these fraudsters also had ties to Republicans? Keep it up, I've got the Truth Steamroller until midnight...
 

Neckbeard

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Oh wow, the truth steamroller. Does that have a function where it shows that 80 billion is less money than 25 billion?

:action-sm

BUT BUT BUSH. Okay, they both did this dumb, crooked shit. Obama tripled the amount of retardation, the same way he tripled inherited deficits. How can you say But But Bush when Obama does 3 times the retardation?
 

whiskeyguy

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#24
A) Bush was wrong to spend that kind of money on green energy.

B) Doesn't it make more sense to focus on the guy who is currently "applying" for the position?

Try that argument with your boss at a private company... "I realize I made $10,000 worth of mistakes, but the guy before me made $2,000 worth of mistakes, so shouldn't I get a pass?"
 

Pigdango

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BUT BUT BUSH. Okay, they both did this dumb, crooked shit. Obama tripled the amount of retardation, the same way he tripled inherited deficits. How can you say But But Bush when Obama does 3 times the retardation?
I think the short answer would be that Bush did other retardation (such as the Iraq war) that makes up for the gap in Green Energy retardation

B) Doesn't it make more sense to focus on the guy who is currently "applying" for the position?
Yes, we should be focused on both guys applying for the position and asking if ANY of this behavior is going to change no matter who gets the job. Bush was corrupt. Obama is certainly far more corrupt. Would Romney be more corrupt than Obama, "Bush level" corrupt, or an improvement on both? The problem is that no matter who the President is, they're not likely to be able to stop the rampant corruption in Congress that really makes this all possible, even if they wanted to. Probably only a full fledged revolution would enact any true "change"