Green energy in the News

[michaels]

Oil is always the correct choice.

 

[Jamie6.5]

Okay folks, here is a prime example of how the "green energy" scam works, and how if you "bundled" (READ: donated BIG time) for the obama campaign, you walk away from a bankrupt enterprise with taxpayer dollars spilling over the sides of your portfolio:
From the Wall Street Journal:
Review & Outlook: The Solyndra Memorial Tax Break - WSJ.com

Perhaps you thought the Solyndra scandal amounted to a $535 million government loan that will never be repaid. No such luck. In the latest twist, Solyndra's investors could be rewarded for their failure, thanks to a tax benefit the Administration handed out in a bid to evade political accountability.

The Internal Revenue Service exposed this double Solyndra debacle last week in the U.S. bankruptcy court for the district of Delaware, which is unwinding the defunct solar-panel maker. The IRS formally objected to Solyndra's Chapter 11 reorganization plan, claiming its "principal purpose is tax avoidance."

And American thinker:
Blog: George Kaiser's Great Big Green Energy Scam

So let us review: George Kaiser was the primary shareholder in Solyndra, which received, spent, and lost a $535 million U.S. government loan. George Kaiser will receive $71 million in proceeds from the sale of Solyndra's assets, and George Kaiser will pay $350 million less in future taxes as a result of inheriting Solyndra's losses. Not a bad return for bundling campaign checks for President Obama.

And in the end, the taxpayer gets hosed to the tune of over a half billion dollars in loans that will never be paid back, and tax breaks to a presidential campaign donor.

And the taxpayers are left hoping for change.