The company, Ener1, received a $118 million grant from DOE [Department of Energy] in 2010 as part of the president’s stimulus package,” writes the Heritage Foundation’s Lachlan Markay. “The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use.”
Today, Ener1 announced it was filing for Chapter 11 bankruptcy.
Despite the generous federal support Ener1 received (Vice President Biden even visited Ener1, January 26, 2011, the day after the President pledged in his State of the Union address to put “one million advanced technology vehicles on the road by 2015” with the help of taxpayer funding), and like several other now-bankrupt energy companies, Ener1 was “racked by problems.”
See the Vice President mistakenly, but appropriately, refer to the bankrupt company as “Enron one”:
What about having one single energy company and not having to pay for eletrictiy anymore
What about having a one world government and all of us sitting in our mom's basement until we turn green and melt into our rat-infested comfy chairs?
I can't stop laughing…thanks!!!
Obama keeps investing our tax dollars into more failed company's. sends our jobs overseas most recently to Brazil. You would think he would do something for this country, instead he keeps digging the hole that we are in deeper and deeper. And Congress just keeps letting him continue to destroy this great country.
O’ Vomit owes debts to big time Political Campaign donation contributors. He is just paying his debts to clear the slates for his next hands of Political Donation. Didn’t any one listen to what ILLEGAL IDIOT said when he was on the campaign trail the last time. He wanted $5.00 a gallon gas, and our utilities to triple or better in cost. Higher taxes, distribute the wealth. Don’t forget he also wants to take your IRAs, 401K, Pension Plans and absorb them into the “government” Social security system. “Don’t forget that amounts was nearly 14 trillion dollars as of 3 years ago”. That Americans have invested of their own money for their retirement. OUT of every $1.00 that the government collects into its Social Security fund from your paychecks. Only $.40 cents actually gets used for that purpose the rest gets blown in Government approved and condoned “WASTE”.
Wake up People Quit drinking their Koolaid. Stop the Insanity … Freedom isn’t Free
OORAH… SEMPER FI
The Thistle Patch
The technology is just not there yet. Solar and wind are going to be white elephants of the future just like the geodesic dome garbage that came out of the weeds of the brave new world denizens. The future energy technology will come from the research into the atom and the elemental forces of attraction and repulsion. Unfortunately Clinton and cohorts cancelled out giant collider in the early nineties so we will be licensing the new technology from the Swiss and French. Sad, and we are not funding NASA any more either. Many fabulous technological advances came out of the Dept of Defense. There are things that government should do. Big research and military are two things government should do. Now Obama is not only defunding defense, he is ripping more of their money out to put into solar. Dim.
The greatest thing the Government could do is GET OUT OF THE WAY and leave private enterprise free to develop economically feasable solutions. It made us a leader for over 100 years until REGULATIONS made free enterprise no longer free.
Exactly. They regulate the creators an the consumers, ALL so the middle man, who never creates anything or actually receives any product, does nothing but make money through corrupt means of falsifying supply/demand numbers through fear mongering, subsidizing, etc. and the mainstream media is right there to quickly send it on its way!!
TECHNOLOGY is here this is and inventive COUNTRY WE can do it but they won't use the technology we have.All We get is Lie's. Lets clear up some of them Water wells very seldom go down over 100ft. fracking is done at 1000's of ft. Earth quacks happen at around 7 miles below the surface. So all that bull that EPA. is putting out are Lie's. WE have magnetic Generators and they have been proven out to work. One of the best things the GOV could do would be to untie the hands and feet of the Trucking Industry. Give them fuel at a reasonable price and take the DOT. REG. Manuel throw it away and rewrite it for todays world stop giving the railroads all that money that this Country gets nothing for! If the GOV. did that this COUNTRY would move the job's would be there and food prices would go down.
Obama, as usual, is just being caught paying back his big donors for the millionth time. Obama will do anything that he possibly can to buy, cheat, and steal votes for the 2012 election. Obama isn't qualified, nor has he ever been qualified, to be our president. Throw this BUM out, while we still have a country left!
Why did you not post my comment? there were no threats or curse words in my comment. If you are going to pick and choose then you should be able to tell me why you refuse to post my comment today 01/27/12
The article went onto name other bankrupt energy companies that recieved taxpayer money….One company got 232 million dollars to create 38 jobs. This fact in itself proves the entire Obama administration must be removed from office. Do the math……..It cost the taxpayer 6 million dollars per job….DUH…!
He hands out billions to these hopeless companies, they strip the cash out, file for bankruptcy, and go on to the next scam.
I bet his donors are recieving all these millions than closing shop and pocketing all these millions than they go donate some more money to this chump with our tax payer money
We tax payers have $500,000 in every single Chevy Volt. We have over 500 Million in Solendra. Cash for Clunkers cost us around $3 Billion and there's much more wasteful stupidity. Obama the subversive is purposely spending us into a hole that we may never climb out of.
I want to follow the money they received to see how much was then turned over to the reelection funds for democrats? There in is a tale for sure quid pro qua
Short and Sweet,No more bail outs and keep the money we don't have out of the reach of the politicians.Especially you illegal POS.
Is he just pulling these loans out of his ass or is Congress involved?
Good question…
It's all going to his reelection campaign – you can bet your bottom dollar on that!
Amen to all the above.
MORE TAX DOLLARS DOWN THE DRAIN. How many more JOBS LOST.
The following paragraph PLUS says it all.
Ener1 is the third company to seek bankruptcy protection after
receiving assistance from the Energy Department under the economic stimulus
law. California solar panel maker Solyndra Inc. and Beacon Power, a
Massachusetts energy-storage firm, declared bankruptcy last year. Solyndra
received a $528 million federal loan, while Beacon Power got a $43 million loan
guarantee.
PLUS
January 2012 – Amonix a North Las Vegas solar panel plant, is laying
off about 200 people from its solar panel manufacturing plant in North Las
Vegas.
They will ramp down the facility to about 100 jobs,
Amonix received $5.9 million in federal funding from the Recovery Act's
Advanced Energy Manufacturing Tax Credit to build the plant,
It also received a $15.6 million grant from the Department of Energy
Solar American Initiative.
Do not forget Fisker, the start-up electric car company, which
received a $529 million loan from the Department of Energy are having the cars MANUFACTURED
IN FINLAND.
when will these idiots quit gambleing with our money,it seems every one of these so called solvent green energy companies are now bankrupt now that they are batting a thousand problem is they all failed like the idiots that dreamed up these schemes
These companies were obviously not checked out first, the best place to do this is the stock market. If the private investors do not think the company is solvent and has a future then it probably does not. I like others believe if all the facts were known it is just a way to repay supporters with taxpayer money. That is probably the best investment of their money though the end result is the destruction of America.
Heck Obozo should hire a good gambler and go to Vegas and spend the money there Probably get a better return there. OH i forgot he is paying his supporters/cronies. He sure is spreading the Wealth around. DUH come on American people use your brain GOD gave you.