Friday, September 30, 2011

Barack Obama - #3286 - New Department of Energy Loans Favor Even More Democratic Donors - Hot Air (2) $737 Million in Green-Tech Loan to Company to Pelosi Family - Hot Air (3) Holding Obama's Party Accountable - American Spectator

Earlier today, I noted that one of the new loans approved by the Department of Energy for green-tech stimulus just happened to favor a company with connections to Nancy Pelosi’s family. That’s not the only connection in the batch of new loan approvals from the DoE, as the Daily Caller discovered. Digging into investment records and public statements, it appears that a number of key donors will benefit from the Obama administration’s largesse — including a central figure in the collapse of Solyndra and the destruction of a half-billion dollars in taxpayer money: The Hill newspaper reported Wednesday that the Santa Monica, Calif.-based SolarReserve has secured a $737 million loan guarantee from the Department of Energy for a Nevada solar project. That company has ties to George Kaiser, the Oklahoma billionaire who raised $53,500 for President Obama’s campaign in 2008. Through his Argonaut Private Equity firm, Kaiser holds a majority stake in Solyndra. Argonaut has a voting stake on SolarReserve’s board of directors in the person of Steve Mitchell, who also serves on Solyndra’s board of directors. John Rossomondo also notes the connection to Ron Pelosi at SolarReserve, but there are more connections to big Democratic donors: Read more.......

$737 Million in Green-Tech Loans to Company Connected to Pelosi Family - Hot Air - As Tina wrote yesterday, Americans still favor government subsidies to companies unable to otherwise compete in the green-tech industry. That may be especially true of Nancy Pelosi and her family, but not exactly for reasons of environmental improvement. Let’s start with this report from The Hill, via Gateway Pundit and Instapundit, on the latest approved green-tech loan from the Department of Energy:  DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.  The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.  Forty-five permanent jobs? That puts the cost per permanent job at over $16 million, a figure that could employ perhaps a hundred people had the capital remained in the hands of the private sector that produced it. Whatever else these green-tech loans are, they certainly are not job-creation stimulus.  Read more.......

Holding Obama's Party Accountable - Hot Air - Barack Obama is on a far worse political trajectory than Jimmy Carter was. First, the Democrats lost Sen. Ted Kennedy's seat to a Republican in ultraliberal Massachusetts who campaigned against Kennedy's signature issue of national health insurance. Nothing that dramatic happened while Carter was President.  Then Democrats suffered historic, grievous losses in the 2010 midterm elections, with a New Deal size loss in the House of 63 seats, and a loss of 6 seats in the Senate. In Jimmy Carter's 1978 midterms, Democrats lost only 15 seats in the House and 3 seats in the Senate.  Now in the recent special election in New York City, Democrats have begun to lose seats they haven't lost since before the New Deal.  That is so fitting, because President Obama is not an anomaly in today's Democrat party. Quite to the contrary, he represents the party's heart and soul today, which is well to the Left now even of George McGovern in 1972.  Read more.........  Article contributed by Steve Peters.

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