A US government renewable energy programme described by Republicans as "disgusting" and "a colossal failure" has turned a profit for the first time.
The Loans Program Office became a stick to beat President Barack Obama with during the campaigning for the 2012 election, after the solar energy company Solyndra defaulted on a $535m loan it received from the Department of Energy.
It was followed into bankruptcy by start-ups Fisker Automotive and Abound Solar, all of which received loans from the office.
Now, it has reported a profit of $30m, after collecting interest payments of $810m on total loans of $34.2bn, Reuters reports.
Well looky there. Another Obama failure refuses to actually, you know, fail.
Recall when President Carter guaranteed loans to save Chrysler Corp at the end of the70s, gov't made a profit on that too. #MetAPayroll
ReplyDeleteHolland (famously cool and cloudy) now has solar roads. Germany (same weather as Holland) gets more than 60% of its energy needs met through solar power. There is no reason why the USA, with it's huge southwest desert areas, can't make a profit from solar.
ReplyDeleteYou can bet that FOX news won't be broadcasting this.
ReplyDeleteMy President is a rock star and Australia went wild over his historic speech:
ReplyDeletehttp://www.youtube.com/watch?v=52ZPlDSmEj4
This should be broadcast all over especially since REPUBS are AGAIN trying to RAM the Keystone XL down our throats!
ReplyDeleteI heard yesterday there is no $ to it (anyway) b/c oil is so low right now it would cost MORE than its worth to extract it.
We need Solar not more TAR SANDS oil!
Fuck Congress.
Write your Congress person JUST SAY NO!!!
Because the media has refused to do its job and tell the truth about the pipeline, there is far more support for the project than there should be.
DeleteThe only real benefit will be to the Canadian company that owns the pipeline and will profit from the sales, and to the Koch brothers and John Boehner, who are heavily invested in the project.
All other aspects of the pipeline are negative, including potentially catastrophic contamination of our aquifers. The tar sands oil is so toxic and corrosive that leaks are more likely, and it doesn't behave like conventional oil so traditional cleanup processes can't be used.
Yeah, let's transport some toxic sludge that we don't even know HOW to clean up over some of the most important agricultural land in the country. THAT sure sounds like a great idea, doesn't it???
Just bought a house in California with solar panels...my electric bill will go from a high ass 200 bucks a month to an average of 15-20 buck a month!
ReplyDeleteThanks President Obama! LOL!!!
President Obama beats their asses every single time and I love it! Voted for him twice and think him outstanding. He will go down in history as one of our best POTUS! Then the Republicans will really piss and moan! To Hell with them and their continued losses which will occur again in 2016!
ReplyDeleteIf President Obama had a hand in this, then why does Sarah stump for candidates wearing her "Supergirl" underoos w/ matching bracelet? She's such a wiener and so predictable it's getting pathetic. I'm just grateful he's against strip mining. Don't think my eyes could take Granny Palin on her stripper's pole.
ReplyDelete