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Posted: 9/28/2011 8:38:14 AM EST
WASHINGTON - Facing a Friday deadline, the Energy Department has approved two loan guarantees worth more than $1billion for solar energy projects in Nevada and Arizona.

Energy Secretary Steven Chu said the department has completed a $737 million loan guarantee to Tonopah Solar Energy for a 110 megawatt solar tower in Nevada, and a $337 million guarantee for Mesquite Solar 1 to develop a 150 megawatt solar plant in Arizona.

The loans were approved under the same program that paid for a $535 million loan to Solyndra Inc., a now-bankrupt solar panel maker that has become a rallying cry for Republican critics of the Obama administration's green energy program.


http://www.startribune.com/nation/130717383.html
Link Posted: 9/28/2011 8:39:59 AM EST
Whats that old maxium?

Oh yeah:

Never reinforce failure.
Link Posted: 9/28/2011 8:40:54 AM EST
Originally Posted By Jarhead08:
Whats that old maxium?

Oh yeah:

Never reinforce failure.


Interesting. That's the reverse of this administration's slogan.
Link Posted: 9/28/2011 8:42:34 AM EST
"I've cut this board three times now and it's still too short!"

Link Posted: 9/28/2011 8:44:43 AM EST
Hope & Change!
Link Posted: 9/28/2011 8:45:25 AM EST
Solyndra, Lightsquared, Brightsource, . . . . .

Money laundering .

Link Posted: 9/28/2011 8:47:27 AM EST
Originally Posted By GB243:
Solyndra, Lightsquared, Brightsource, . . . . .

Money laundering .



Yea.

I guess I understand what makes solar a "green" energy now.
Link Posted: 9/28/2011 8:48:54 AM EST
friggen Chu is an idiot and this is blatant fraud.
Link Posted: 9/28/2011 8:49:14 AM EST

Originally Posted By Merrell:
friggen Chu is an idiot and this is blatant fraud.


Link Posted: 9/28/2011 8:51:17 AM EST
The kickbacks into the Obama campaign must be wonderful.
Link Posted: 9/28/2011 8:51:54 AM EST
Originally Posted By BangStick1:
The kickbacks into the Obama campaign must be wonderful.


this
Link Posted: 9/28/2011 8:52:33 AM EST
Originally Posted By BangStick1:
The kickbacks into the Obama campaign must be wonderful.


Wonder what % of these will go straight back into Zero 2012?
Link Posted: 9/28/2011 8:53:52 AM EST
[Last Edit: 9/28/2011 8:55:31 AM EST by david_g17]
Originally Posted By Jarhead08:
Whats that old maxium?

Oh yeah:

Never reinforce failure.


no, no, no the maxim is: if it moves, tax it; if it stops moving, subsidize it.
Link Posted: 9/28/2011 8:55:12 AM EST
Originally Posted By Dumpster_Baby:
"I've cut this board three times now and it's still too short!"



have you tried setting the board on fire? burning it to length may fix it.
Link Posted: 9/28/2011 8:56:57 AM EST

Originally Posted By TxLewis:
Originally Posted By BangStick1:
The kickbacks into the Obama campaign must be wonderful.


this
Exactly what I was thinking.

Link Posted: 9/28/2011 9:01:57 AM EST
I'm sure this is gonna end GREAT!
Link Posted: 9/28/2011 9:04:58 AM EST
[Last Edit: 9/28/2011 9:05:23 AM EST by hondaciv]
To be fair...

The DOE would also back loan guarantees if it was 2 nuclear power plants they were building.

These are actual power plants and unless someone really fucks up, won't go out of business.

They will just take 500 years to repay the loan because solar isn't very efficient right now.
Link Posted: 9/28/2011 9:13:51 AM EST
Originally Posted By hondaciv:
To be fair...

The DOE would also back loan guarantees if it was 2 nuclear power plants they were building.

These are actual power plants and unless someone really fucks up, won't go out of business.

They will just take 500 years to repay the loan because solar isn't very efficient right now.


Depending on the type of plants, they may be legitimately profitable. Solar thermal is competitive with other forms of energy I think.
Link Posted: 9/28/2011 9:16:03 AM EST
Originally Posted By AR4U:
Originally Posted By hondaciv:
To be fair...

The DOE would also back loan guarantees if it was 2 nuclear power plants they were building.

These are actual power plants and unless someone really fucks up, won't go out of business.

They will just take 500 years to repay the loan because solar isn't very efficient right now.


Depending on the type of plants, they may be legitimately profitable. Solar thermal is competitive with other forms of energy I think.


If they were legitimately positive ROI, the free market would be all over it.

It's subsidized crap that Chu pushes. Only a few places on the planet have the necessary insolation to make it net-positive (desert SW is it for the US)
Link Posted: 9/28/2011 9:18:58 AM EST
So far, Brightsource has lost more than they have made.
Link Posted: 9/28/2011 9:22:54 AM EST

Originally Posted By Merrell:
Originally Posted By BangStick1:
The kickbacks into the Obama campaign must be wonderful.


Wonder what % of these will go straight back into Zero 2012?

87%

Link Posted: 9/28/2011 9:25:37 AM EST
Link Posted: 9/28/2011 9:26:36 AM EST
Keep telling me that I'm crazy to think this is purposeful.
Link Posted: 9/28/2011 9:27:41 AM EST

Originally Posted By BangStick1:
The kickbacks into the Obama campaign must be wonderful.

Gotta loot the Treasury while they're still in power, if they wait until after the election it will be too late. Carpe diem, and all that.
Link Posted: 9/28/2011 9:27:46 AM EST
Surface, great...but everything that certainly lies underneath...disgusting.
Link Posted: 9/28/2011 9:31:53 AM EST
Originally Posted By VTHOKIESHOOTER:
Keep telling me that I'm crazy to think this is purposeful.



You aren't.

Link Posted: 9/28/2011 9:34:59 AM EST
$1B for 260MW, what a fucking joke.
Link Posted: 9/28/2011 9:36:22 AM EST
Originally Posted By BangStick1:
The kickbacks into the Obama campaign must be wonderful.


That's about the only conclusion a reasonable man can come too.
Link Posted: 9/28/2011 9:37:42 AM EST

Originally Posted By StretchMaK:
$1B for 260MW, what a fucking joke.

Green for green!

Link Posted: 9/28/2011 9:41:41 AM EST
The whole "we're broke" but handing out money cracks me up.



Then I look my kid in the eye...
Link Posted: 9/28/2011 9:49:17 AM EST
Originally Posted By Merrell:
Originally Posted By AR4U:
Originally Posted By hondaciv:
To be fair...

The DOE would also back loan guarantees if it was 2 nuclear power plants they were building.

These are actual power plants and unless someone really fucks up, won't go out of business.

They will just take 500 years to repay the loan because solar isn't very efficient right now.


Depending on the type of plants, they may be legitimately profitable. Solar thermal is competitive with other forms of energy I think.


If they were legitimately positive ROI, the free market would be all over it.

It's subsidized crap that Chu pushes. Only a few places on the planet have the necessary insolation to make it net-positive (desert SW is it for the US)


You mean like Arizona and Nevada?

I dislike subsidies as much as the next guy, but trying to link these loans to the Solyndra debacle is intellectually dishonest.
Link Posted: 9/28/2011 9:53:19 AM EST
Originally Posted By AR4U:
Originally Posted By Merrell:
Originally Posted By AR4U:
Originally Posted By hondaciv:
To be fair...

The DOE would also back loan guarantees if it was 2 nuclear power plants they were building.

These are actual power plants and unless someone really fucks up, won't go out of business.

They will just take 500 years to repay the loan because solar isn't very efficient right now.


Depending on the type of plants, they may be legitimately profitable. Solar thermal is competitive with other forms of energy I think.


If they were legitimately positive ROI, the free market would be all over it.

It's subsidized crap that Chu pushes. Only a few places on the planet have the necessary insolation to make it net-positive (desert SW is it for the US)


You mean like Arizona and Nevada?

I dislike subsidies as much as the next guy, but trying to link these loans to the Solyndra debacle is intellectually dishonest.




Link Posted: 9/28/2011 10:00:11 AM EST
[Last Edit: 9/28/2011 10:03:17 AM EST by Alien]
Originally Posted By GB243:
Solyndra, Lightsquared, Brightsource, . . . . .

Money laundering .



I don't think you know what money laundering is. This isn't Obama's money that he earned through illegal means. This is TAXPAYER money. Now whether he received a kickback and launders that is another issue. The fucking stupidest part is how we continue to hand out loans, grants, foreign aid, etc when we are BORROWING money ourselves. There really is no hope for our country. If we have all of this extra money to hand out, we SHOULDN'T have to to be borrowing money, nor should taxes be as high as they are.
Link Posted: 9/28/2011 10:06:30 AM EST

Originally Posted By david_g17:
Originally Posted By Dumpster_Baby:
"I've cut this board three times now and it's still too short!"



have you tried setting the board on fire? burning it to length may fix it.

Or just make a new tape measure that says the board is perfect.
Link Posted: 9/28/2011 10:08:00 AM EST
IBTB

In Before The Bankruptcy
Link Posted: 9/28/2011 10:08:07 AM EST
Originally Posted By Vicinity:
Originally Posted By Jarhead08:
Whats that old maxium?

Oh yeah:

Never reinforce failure.


Interesting. That's the reverse of this administration's slogan.


That would depend upon the differences between our definitions for "success" and "failure" vs. Obamas.
Link Posted: 9/28/2011 10:45:57 AM EST
Originally Posted By Alien:
Originally Posted By GB243:
Solyndra, Lightsquared, Brightsource, . . . . .

Money laundering .



I don't think you know what money laundering is. This isn't Obama's money that he earned through illegal means. This is TAXPAYER money. Now whether he received a kickback and launders that is another issue. The fucking stupidest part is how we continue to hand out loans, grants, foreign aid, etc when we are BORROWING money ourselves. There really is no hope for our country. If we have all of this extra money to hand out, we SHOULDN'T have to to be borrowing money, nor should taxes be as high as they are.


Embezzler OTUS .
Link Posted: 9/29/2011 10:20:42 AM EST
Check this out - $6.5B for <300 new jobs! Go DOE!!!

DOE Mulls Green Energy Loans At $23 Million Per Job



Link Posted: 9/29/2011 10:26:13 AM EST
http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/solyndra-exec-board-737m-loan-gaurantee


Steve Mitchell and Argonaut Private Equity might have a chance to recoup some of their losses in the Solyndra debacle now that the Department of Energy has given a $737 million dollar loan guarantee to a company backed by Argonaut that also lists Mitchell as a "board participant."

Mitchell served on the Solyndra LLC Board of Directors and reportedly still serves on the board. Mitchell serves as a "board participant" for Solar Reserve, the parent company to Tonopah Solar (the Tonopah Solar email address even routes to a Solar Reserve account) and his Solar Reserve biography says that he "currently sits on the Boards of Directors of . . . Solyndra" and several other companies. Despite the Solyndra failure, the Department of Energy continues to provide loan guarantees to solar companies, giving Tonopah Solar a $737 million loan guarantee for a project in Nevada.



Along with...

http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html

...
On SolarReserve's website is a list of "investment partners," including the "PCG Clean Energy & Technology Fund (East) LLC." As blogger American Glob quickly discovered, PCG's number two is none other than "Ronald Pelosi, a San Francisco political insider and financial industry polymath who happens to be the brother-in-law of Nancy Pelosi, the Minority Leader of the United States House of Representatives."...


Link Posted: 9/29/2011 10:30:03 AM EST

Originally Posted By Cheesebeast:
Originally Posted By GB243:
Solyndra, Lightsquared, Brightsource, . . . . .

Money laundering .



Yea.

I guess I understand what makes solar a "green" energy now.

Dangit . . . how do I get mine!!! I need to start a wind plant here in KY . . . or . . . that's it!!!

I will start a THOROUGHBRED powerplant!!!! All the turbines will be hooked up to treadmills that the horses will run on!!! The motive power runs on grass . . . infinitely renewable!!!

They will need to start the grant moey at about $1.5 billion, though . . . KY horse farms are expensive!


Link Posted: 9/29/2011 2:23:40 PM EST
Originally Posted By Strykewolf:
Along with...

http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html

...
On SolarReserve's website is a list of "investment partners," including the "PCG Clean Energy & Technology Fund (East) LLC." As blogger American Glob quickly discovered, PCG's number two is none other than "Ronald Pelosi, a San Francisco political insider and financial industry polymath who happens to be the brother-in-law of Nancy Pelosi, the Minority Leader of the United States House of Representatives."...




Rage bump. Money laundering indeed.
Link Posted: 9/30/2011 3:21:09 AM EST

Originally Posted By Cheesebeast:
Originally Posted By GB243:
Solyndra, Lightsquared, Brightsource, . . . . .

Money laundering .



Yea.

I guess I understand what makes solar a "green" energy now.

Greenback energy.
Link Posted: 9/30/2011 3:42:00 AM EST
Federal Mafia..
These assholes are no different than the real one.
The difference being one goes to jail for crimes one does not.
Link Posted: 9/30/2011 3:49:44 AM EST
lets all pray the country lasts until nov 2012
Link Posted: 9/30/2011 3:55:19 AM EST
That $737 Million loan went to Pelosi's brother in law.
Link Posted: 9/30/2011 3:57:09 AM EST

Originally Posted By Strykewolf:



Good Grief, this shit is as blatantly fraudulent as you can get.
Link Posted: 9/30/2011 4:03:08 AM EST
I've said this before and I will say it again. This is also backed up by the EU's trial and failure of Solar plants.

SOLAR DOES NOT WORK AT A GRID LEVEL.

The only thing that is going to be effective at providing us any power going into the future is advanced nuclear technologies, Specifically LFTR's.

China is currently building one. It will be a sad day when china rules the world simply because we were too interested in stupid ass shit to get off our asses and do some research like we use to.
Link Posted: 9/30/2011 4:04:34 AM EST
[Last Edit: 9/30/2011 4:09:01 AM EST by scottedward58]
Originally Posted By AR4U:
Originally Posted By hondaciv:
To be fair...

The DOE would also back loan guarantees if it was 2 nuclear power plants they were building.

These are actual power plants and unless someone really fucks up, won't go out of business.

They will just take 500 years to repay the loan because solar isn't very efficient right now.


Depending on the type of plants, they may be legitimately profitable. Solar thermal is competitive with other forms of energy I think.


I did the math on I think this plant or one like it, even with no maintenance costs and if it could run at 100% capacity for life it will be like 75 years before it becomes profitable. This is nothing but a pay off.
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