Championship Subdivision Football | FCS Football | Stadiums | Blogs | Forums

"Electric-Car Firm That Got Biden Visit, $118M in Stimulus, Files for Bankruptcy

'CNSNews.com) - Ener1--a company that manufactures batteries for electric cars, and that received $118.5 million in federal stimulus money, and that Vice President Joe Biden visited last year the day after President Obama’s State of the Union Address—announced today that it has filed for Chapter 11 bankruptcy protection........................................"

http://cnsnews.com/news/article/electri ... bankruptcy" onclick="window.open(this.href);return false;

Obama's "Green Initiatives": pissing taxpayer $ down a black hole...

And ANOTHER one!

"Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!)

Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.

I foresaw this spate of bad news last November. As I explained yesterday,

In a previous post, I compared renewable energy spending in the 2009 Stimulus to a green albatross burdening the President. I argued that Stimulus spending was inherently wasteful, because politics invariably corrupts government’s investment decisions. The result is taxpayers losses on bankrupt companies that existed only by the grace of political favoritism, a la Solyndra. I predicted the green stimulus would haunt the President, in the form of a slow drip public relations nightmare, as a litany of bad investments go belly-up in the run up to the 2012 elections.

Mr. President, are you still sure you want to “double down” on renewable energy giveaways?"
http://www.globalwarming.org/2012/01/27 ... this-week/" onclick="window.open(this.href);return false;

Yeah it's a waste to keep backing green energy. Subsidizing oil is way cheaper.

kalm wrote:Yeah it's a waste to keep backing green energy. Subsidizing oil is way cheaper.

You know it.

kalm wrote:Yeah it's a waste to keep backing green energy. Subsidizing oil is way cheaper.

At least the govt isn't making direct grant & loan payments to "Big Oil" like they are to "Big Green"

BDKJMU wrote:

kalm wrote:Yeah it's a waste to keep backing green energy. Subsidizing oil is way cheaper.

At least the govt isn't making direct grant & loan payments to "Big Oil" like they are to "Big Green"

No kidding. And could you imagine if we had to spend as much money on green energy that we've spent over the last 60 years providing stability to the middle east and the world's sea lanes? Or on environmental costs. Or on health related cost. Good thing those externalities are off the oil company's books.

the country gets a return on its oil investment
Not sure who benefits besides the reelect the president campaign on these green boondoggles

Those that hate oil and love the battery cars need to put your money where your mouth is and support Govt Motors and by a Volt
They need your help

"Firm sells solar panels - to itself, taxpayers pay

A heavily subsidized solar company received a U.S. taxpayer loan guarantee to sell solar panels to itself.

First Solar is the company. The subsidy came from the Export-Import Bank, which President Obama and Harry Reid are currently fighting to extend and expand. The underlying issue is how Obama's insistence on green-energy subsidies and export subsidies manifests itself as rank corporate welfare.

Here's the road of subsidies these solar panels followed from Perrysburg, Ohio, to St. Clair, Ontario.........."

http://campaign2012.washingtonexaminer. ... pay/434251" onclick="window.open(this.href);return false;

kalm wrote:Yeah it's a waste to keep backing green energy. Subsidizing oil is way cheaper.

DRILL BABY DRILL!!!!!!

Ibanez wrote:

kalm wrote:Yeah it's a waste to keep backing green energy. Subsidizing oil is way cheaper.

DRILL BABY DRILL!!!!!!

Damn the torpedos, full steam ahead!

Bronco wrote:the country gets a return on its oil investment
Not sure who benefits besides the reelect the president campaign on these green boondoggles

Those that hate oil and love the battery cars need to put your money where your mouth is and support Govt Motors and by a Volt
They need your help

That's me!! I can firmly tell you I have purchased my LAST 100% gasoline powered automobile. When time rolls around for my next car it'll be an electric or hydrogen, or at least a hybrid. Join the fight against Big Oil! I'm in, who's with me?

bluehenbillk wrote:

Bronco wrote:the country gets a return on its oil investment
Not sure who benefits besides the reelect the president campaign on these green boondoggles

Those that hate oil and love the battery cars need to put your money where your mouth is and support Govt Motors and by a Volt
They need your help

That's me!! I can firmly tell you I have purchased my LAST 100% gasoline powered automobile. When time rolls around for my next car it'll be an electric or hydrogen, or at least a hybrid. Join the fight against Big Oil! I'm in, who's with me?

Just purchased two new corporate vehicles...a hybrid Camry and a hybrid Ford Fusion. Replaced two gas-guzzling Ford Exploders.

bluehenbillk wrote:

Bronco wrote:the country gets a return on its oil investment
Not sure who benefits besides the reelect the president campaign on these green boondoggles

Those that hate oil and love the battery cars need to put your money where your mouth is and support Govt Motors and by a Volt
They need your help

That's me!! I can firmly tell you I have purchased my LAST 100% gasoline powered automobile. When time rolls around for my next car it'll be an electric or hydrogen, or at least a hybrid. Join the fight against Big Oil! I'm in, who's with me?

I purchased a Civic Hybrid last year. Great vehicle. 10 gallon tank gets 400 miles. Smooth ride, low maintenece costs, quiet ride.

Bronco wrote:the country gets a return on its oil investment
Not sure who benefits besides the reelect the president campaign on these green boondoggles

Those that hate oil and love the battery cars need to put your money where your mouth is and support Govt Motors and by a Volt
They need your help

If we did the right thing during the Carter Administration, Volts would be affordable.

Thanks again, conks.

D1B wrote:

Bronco wrote:the country gets a return on its oil investment
Not sure who benefits besides the reelect the president campaign on these green boondoggles

Those that hate oil and love the battery cars need to put your money where your mouth is and support Govt Motors and by a Volt
They need your help

If we did the right thing during the Carter Administration, Volts would be affordable.

Thanks again, conks.

This!

And GWB, 30 years later, practically mimicked Carter's call to end our dependency on foreign oil. Conks now going hybrid yet still opposed to the environmental movement. A little confused and a little late to the table but there's still hope

Didn't the Democrats have control of both houses of congress during the Carter disaster?

kalm wrote:

D1B wrote:
If we did the right thing during the Carter Administration, Volts would be affordable.

Thanks again, conks.

This!

And GWB, 30 years later, practically mimicked Carter's call to end our dependency on foreign oil. Conks now going hybrid yet still opposed to the environmental movement. A little confused and a little late to the table but there's still hope

Again, wishing oil to go away versus actually being able, as a national or world economy, to move away from oil are two very different things. You'd think with the potential revenues that could be gained from a cost-effective, non-oil alternative that someone somewhere in the past 50 years would've come up with something by now. It's not like we don't want to find an alternative, so we're already doing the wishing part.

GannonFan wrote:

kalm wrote:
This!

And GWB, 30 years later, practically mimicked Carter's call to end our dependency on foreign oil. Conks now going hybrid yet still opposed to the environmental movement. A little confused and a little late to the table but there's still hope

Again, wishing oil to go away versus actually being able, as a national or world economy, to move away from oil are two very different things. You'd think with the potential revenues that could be gained from a cost-effective, non-oil alternative that someone somewhere in the past 50 years would've come up with something by now. It's not like we don't want to find an alternative, so we're already doing the wishing part.

At the risk of the following Solyndra rebuttals, a national energy policy started 40 years ago that recognized oil as the current dominant source but encouraged R&D of and subsidies (at least similar to oil and coal) toward renewables would find us that much further ahead right now. There's nothing wrong with admitting Carter was right back then.

Oh, and bulldog, it needs to be long term and have the support of current and future legislatures and presidents from both parties.

kalm wrote: At the risk of the following Solyndra rebuttals, a national energy policy started 40 years ago that recognized oil as the current dominant source but encouraged R&D of and subsidies (at least similar to oil and coal) toward renewables would find us that much further ahead right now. There's nothing wrong with admitting Carter was right back then.

With their all or nothing, now or never stance, the Greenies made sure that wasn't going to happen.

Oh, and bulldog, it needs to be long term and have the support of current and future legislatures and presidents from both parties.

That didn't seem to matter for Obamacare....Just sayin'.

kalm wrote:

GannonFan wrote:
Again, wishing oil to go away versus actually being able, as a national or world economy, to move away from oil are two very different things. You'd think with the potential revenues that could be gained from a cost-effective, non-oil alternative that someone somewhere in the past 50 years would've come up with something by now. It's not like we don't want to find an alternative, so we're already doing the wishing part.

At the risk of the following Solyndra rebuttals, a national energy policy started 40 years ago that recognized oil as the current dominant source but encouraged R&D of and subsidies (at least similar to oil and coal) toward renewables would find us that much further ahead right now. There's nothing wrong with admitting Carter was right back then.

Oh, and bulldog, it needs to be long term and have the support of current and future legislatures and presidents from both parties.

We have had a national energy policy that recognizes oil as the current dominant source and we have encouraged R&D or other options along with subsidies. Again, it's not for the lack of wanting to find an oil alternative, it's the lack of finding one that is cost competitive that is the issue. You'd have the biggest lottery ticket of all time if you found it so there's plenty of incentive to come up with the oil alternative. Of course Carter was right when he said we need to find an alternative - that's the easy part and everyone agrees with that. It's that tough second part of inventing the solution that is causing us so many problems.

GannonFan wrote:Of course Carter was right when he said we need to find an alternative - that's the easy part and everyone agrees with that. It's that tough second part of inventing the solution that is causing us so many problems.

No it isn't!!

How hard is it to say to American automakers - stop making gas-powered cars. Or for every gas-powered car you build a hybrid or an electric one. It doesn't happen because the Big Oil lobby which has run Washington for decades hasn't allowed it to happen. You know them - "drill baby drill". Demand for gasoline would drop - prices would likewise drop, monies would be invested in new technologies that aren't today.

Shoot holes in that.

bluehenbillk wrote:

GannonFan wrote:Of course Carter was right when he said we need to find an alternative - that's the easy part and everyone agrees with that. It's that tough second part of inventing the solution that is causing us so many problems.

No it isn't!!

How hard is it to say to American automakers - stop making gas-powered cars. Or for every gas-powered car you build a hybrid or an electric one. It doesn't happen because the Big Oil lobby which has run Washington for decades hasn't allowed it to happen. You know them - "drill baby drill". Demand for gasoline would drop - prices would likewise drop, monies would be invested in new technologies that aren't today.

Shoot holes in that.

Hole #1: Current gas prices aren't because of demand.

bluehenbillk wrote:

GannonFan wrote:Of course Carter was right when he said we need to find an alternative - that's the easy part and everyone agrees with that. It's that tough second part of inventing the solution that is causing us so many problems.

No it isn't!!

How hard is it to say to American automakers - stop making gas-powered cars. Or for every gas-powered car you build a hybrid or an electric one. It doesn't happen because the Big Oil lobby which has run Washington for decades hasn't allowed it to happen. You know them - "drill baby drill". Demand for gasoline would drop - prices would likewise drop, monies would be invested in new technologies that aren't today.

Shoot holes in that.

Where does the energy to charge an electric car come from?
Carbon based, oil or coal for the most part. There is always loss in transforming power, 1/2 of it is wasted just getting to the end user. Damn electrics, wasting engergy

I firmly beleive that we need alternatives and that electric/hybrid is not the answer. It is a stop gap at best, and not even a good one. I always love hearing about people and their hybrids. How much energy and waste does it take to produce, maintain and dispose of the batteries for them? I have not seen many studies on it, but it doesn't seem like a good idea to me to be riding around in a giant abttery pack with 10-12 gallons of gasoline. My 1999.5 VW Diesel Jetta got 46mpg and I drove it as hard as I could. My throttle may as well have been an on off switch. Diesel is not the answer either but I think it can be a better stop gap. It is much less volitile and easier to produce. They can be made to run clean and are as clean today. They typically last longer and produce better power IMHO.

These lithium mines look lovely:

bluehenbillk wrote:

GannonFan wrote:Of course Carter was right when he said we need to find an alternative - that's the easy part and everyone agrees with that. It's that tough second part of inventing the solution that is causing us so many problems.

No it isn't!!

How hard is it to say to American automakers - stop making gas-powered cars. Or for every gas-powered car you build a hybrid or an electric one. It doesn't happen because the Big Oil lobby which has run Washington for decades hasn't allowed it to happen. You know them - "drill baby drill". Demand for gasoline would drop - prices would likewise drop, monies would be invested in new technologies that aren't today.

Shoot holes in that.

Isn't that how it worked in the Soviet Union? The govt told the factories what to produce and by god you better take it because that is all you get.

People are finally starting to show an interest in hybrids or electric cars but for the most part nobody wants them. For people that commute everyday a hybrid or all electric might make sense. But if you look at the cost of a Chevy Volt vs. a Chevy Cruze, for example, the extra cost of the electric vehicle won't ever cover the fuel savings. Most people don't want the small cars either. They want to be comfortable and safe.

bluehenbillk wrote:

GannonFan wrote:Of course Carter was right when he said we need to find an alternative - that's the easy part and everyone agrees with that. It's that tough second part of inventing the solution that is causing us so many problems.

No it isn't!!

How hard is it to say to American automakers - stop making gas-powered cars. Or for every gas-powered car you build a hybrid or an electric one. It doesn't happen because the Big Oil lobby which has run Washington for decades hasn't allowed it to happen. You know them - "drill baby drill". Demand for gasoline would drop - prices would likewise drop, monies would be invested in new technologies that aren't today.

Shoot holes in that.

Yup, it's all a conspiracy. Big Oil probably killed JFK too.