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"Hope & Change"…and Saving the Planet 4063792327?profile=original

Barack Obama's original 2008 presidential campaign of “Hope and Change,” masterminded by campaign manager David Plouffe and chief strategist David Axelrod, was a triumph messaging, which quickly gathered immense attraction across our nation and abroad.

Part of Obama’s change crusade included slamming Wall Street at every turn, especially during his first term, labeling them as “fat-cat bankers,” who don’t follow the rules. In fact, President Obama proclaimed in a December 13, 2009 60-Minutes interview, "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street…" 


While the majority of Americans were mesmerized by his messaging, along with the left-wing media's "thrill up their leg" –– glorifying him to sainthood even –– by late 2009, Matt Taibbi, liberal writer for Rolling Stone Magazine, laid out a compelling case on how Obama sold out to Wall Street: "Obama's Big Sellout." "Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008." The Obama inspiration came from the "sense that a genuine outsider was finally breaking into an exclusive club, and they were voting for 'change,'” were some of the words Taibbi penned regarding then-Senator Barack Obama’s rise to power.

Needless to say, Taibbi seemed shocked, documenting that it all began after Obama was elected in 2008: "What's taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history." Later Taibbi asks the question, "How did we get here?" He then answers, "It started just moments after the election –– and nobody noticed." 



Outsider? 



Quite the contrary, because Obama arrived on the scene with his fair share of Wall Street buddies, which in fact helped ensure his presidential victory in 2008 –– with many again in 2012 –– poring millions of dollars into his campaign coffers, making their mark as TOP campaign donors, with even Wall Street executives bundling huge sums of money for Obama. There were many of the too-big-to-fail banks (you know the ones that we, the taxpayer, bailed out) that made this special donor list: Citigroup, Goldman Sachs, JP Morgan Chase, and Morgan Stanley. Further down the line you'll find Bank of America, Lehman BrothersMerrill Lynch –– the latter two indirectly, and so on. Meanwhile, many of the executives running these enormous failures, were not only handed big bonuses, but Obama  rewarded them and his big bundlers with "jobs, commissions, stimulus money, government contracts, and more"  –– with Wall Street given key positions inside the White House and also tapping into the "green" funds.

Wall Street was not the only big backer of Obama’s 2008 and 2012 presidential bids. Besides having the usual (and expected) environmentalists and left-wing organizations in his back pocket, there were Big Venture CapitalistsBig Left-wing Money, Big Energy, and Big Oil, all bundling for, and donating to his campaign  –– with each snagging their fare share of money from President Obama's “save the planet slush fund.”

Save the Planet Slush Fund

"America, this is our moment…the moment when the rise of the oceans began to slow and our planet began to heal," candidate Obama declared in a June 8, 2008 speech.

Furthermore, not only did the "candidate of hope and change" pledge to do the miraculous, Senator Obama, during the 2008 Democratic National Convention, vowed to save the planet: 


Now is the time to end this addiction, and to understand that drilling is a stopgap measure, not a long-term solution. Not even close. As president, I will tap our natural gas reserves, invest in clean coal technology, and find ways to safely harness nuclear power. I'll help our auto companies retool, so that the fuel-efficient cars of the future are built right here in America. I'll make it easier for the American people to afford these new cars. And I'll invest $150 billion over the next decade in affordable, renewable sources of energy - wind power and solar power and the next generation of bio-fuels; an investment that will lead to new industries and five million new jobs that pay well and can't ever be outsourced.

Shortly after President Obama began his reign as our 44th president, in February 2009, he signed into law the American Recovery and Reinvestment Act (ARRA). This was a massive economic stimulus bill –– among the biggest in history and the number one lobbied piece of legislation since 2005 –– that was sold to the American people as a means save our economy from the brink of disaster and create American jobs.

By the beginning of 2012, revelations revealed the real intent behind Obama's trillion-dollar spending spree ("walking around money"): it was “a key tool for advancing the Obama administration’s clean-energy goals and fulfilling a number of campaign commitments.” In fact, the 2009-Stimulus package was jammed-packed full of clean-energy provisions, of which about 10 percent of the monies were earmarked for renewable energy.

It's important to point out that the $100 billion in stimulus funds is not the only money being used to fuel the Obama administration's efforts to save the planet; it's closer to $150 billion and counting, because they continue to dole out more –– and all at at time when we are drowning in debt. A March 2012 report by the Brookings Institute places the Obama administrations' "total government spending (both stimulus and non-stimulus) on green initiatives at $150 billion through 2014." And what did we, the taxpayer, get out of the deal? Billions wasted, increased debt, outsourcing clean-energy money and green jobs to other countries, as well as massive amounts of corporate welfare, cronyism, and corruption.

The most controversial has been the Department of Energy's Loan Guarantee Program, which comprises of Section 1703Section 1705, and Advanced Technology Vehicles Manufacturing (ATVM). While both Section 1703 and the ATVM programs were established during the Bush administration, Section 1705 was created by the 2009-Recovery Act that included $16 billion in lending power. Thus far the DOE has guaranteed $34.7 billion of taxpayer money, and even though the 1705 has expired, there are reports that “the department still has about $50 billion left that could be lent, with a large chunk earmarked for nuclear projects.”

This is the same Energy Department program which the Green Corruption Files has exposed over and over how at least 90 percent of the loan winners have meaningful politically connections to the president and other high-ranking Democrats –– in many cases to both, with Majority Leader Harry Reid tied to five (a bombshell report we released last month). It also brought you the big alternative energy losers such as Solyndra, Beacon Power, Abound Solar, Fisker Automotive, and Vehicle Production Group, flushing millions of tax dollars down the eco-toilet. With SoloPower, Nevada Geothermal and others in the shadows, and quite a few DOE clean-energy projects at risk –– AREVA and its $2 billion, Georgia Power Company and its $8.33 billion –– there are billions more still hanging on the edge.

Also, many of these same companies that were funded with DOE loans, also won free taxpayer cash from one of the biggest stimulus scams: the 1603 Treasury Program, which has to date given out $19,349,675,402. This is another part of the scandal that we've been tracking that also includes numerous favored clean-energy projects. The real shock came at the end of 2102 when we learned from the Energy and Commerce Committee's “in-depth report on its ongoing investigation into the implementation of President Obama’s green energy stimulus spending,” which exposed the fact that “foreign corporations have received approximately one-quarter of $16 billion spent on 'Section 1603' renewable energy stimulus program.”

Last fall, and since, we've debunked the president's 5 million green jobs campaign promise. Worse, the Obama administration has shipped green jobs overseas, and from the beginning, the Department of Energy has exaggerated and/or manipulated the number of green jobs created, calculating saved, indirect, direct, and "touching lives" in the mix –– along with the Obama administration’s labor department counting oil lobbyists, sanitation engineers, school bus drivers, bicycle repair shop clerks, and so on, as as green jobs.


In May 8, 2013, a report by the Institute for Energy Research (IER) gave us insight into the DOE's dismal reality on green jobs: "the Department of Energy has spent nearly $26 billion since 2009 on its Section 1703 and 1705 loan programs. However, these two programs only yielded 2,308 permanent jobs — meaning the cost to taxpayers was $11.25 million per job," recorded the Daily Caller.

As you will discover throughout our work, the DOE loan program is not the only vehicle used to transport taxpayer funds toward alternative energy. There are numerous ways, which includes the U.S. Department of Agriculture’s Biorefinery Assistance Program that along with the DOE, used billions of taxpayer money to fund risky biofuel projects that were "not so shovel-ready" –– yet as usual, the majority had significant political connections. There are smaller grant programs like the ARPA-E and the SunShot Initiative. Throw in the Clean Energy R&D, where "$2.5 billion went for applied research, development, demonstration and deployment activities at the Energy Department’s Office of EERE," of which a huge chunk was designated for biomass energy projects and geothermal projects.

There were additional stimulus funds that were appropriated to the Energy Department, which includes $11 billion for Grid Modernization; the $5 billion Home Weatherization Program; the $6 billion Nuclear Waste Clean Up as well as $3.4 billion for carbon capture and sequestration demonstration projects; $2 billion for research into batteries for electric cars; $500 million for Green Jobs Training; and funds that went to various state energy programs.

Did you know that there is a "Green War" being waged? Yep, the Department of Defense has launched more green energy initiatives than any other federal agency and many are duplicative and wasteful," as reported by the Washington Free Beacon.

Another means where huge corporations and Obama's green buddies get taxpayer money is through the taxpayer-supported Export-Import Bank (Ex-Im), who "has a Congressional mandate to support renewable energy and has been directed that 10% of its authorizations should be dedicated to renewable energy and environmentally beneficial transactions."

Clean Energy; Dirty Money 

What happened during President Obama’s first term –– and is continuing into his second –– is the focus of Clean Energy; Dirty MoneyHow the Obama administration hijacked our environment and doled out tens of billions of our tax dollars to payback his political cronies –– "green" bundlers, top donors, financiers, and allies –– catapulting crony capitalism to a staggering level, while fueling corporate welfare and corruption.


Hope and change were still alive in 2012, but this time in the president’s “forward” message, fear was added as its running mate. The president described 2012 as a "make-or-break moment for America's middle class," before incorporating the theme of moving "forward." 

"We've got to move forward, to the future that we imagined in 2008. We've got to move forward to that future where everyone gets a fair shot, and everyone does their fair share, and everyone plays by the same rules," President Obama hyped. 


Again, during his re-election bid, President Obama had promised that climate change would be a priority in his second term –– a term he began with more scare tactics, proclaiming that the failure to tackle climate change, “would betray our children and future generations.”

But it wasn't until June of 2013 that the president unleashed his new climate agenda; however, prior to and since that time, his administration has continually fired up new climate legislation, regulations and mandates, which benefits special interest groups while adversely affecting American families. And, like the Affordable Care Act taking over our entire health care industry, will in essence, under the guise of "saving the planet," dominate our most valuable resource –– energy. The National Review took notice of "Obama's radical climate agenda," which by the way circumvents Congress, alarming that "the president announced that, on behalf of 'all of humankind,' he is in effect directing the EPA to take over the American economy." Reason.com, too, sees the dire reality here: "Obama’s plan ambitiously seeks to control nearly every aspect of how Americans produce and consume energy."

Last but not least, the president's Climate Action Plan calls for releasing more taxpayer money –– thus once again funding the Green Bank of Obama. “This time, though, the [DOE loan] program would devote as much as $8 billion to helping industries like coal and oil make cleaner energy,” wrote the New York Times. The Institute for Energy Research (IER) took aim at this part of the plan: "This proposal is nothing but window dressing to make it appear that the administration isn’t completely anti-coal. The new proposal would throw good money after bad."

As I was preparing this post, Energy Secretary Moniz via the Energy Department "released [that] $8 billion solicitation for advanced fossil energy projects."  They expect to receive the initial applications by the end of February 2014.


This month, the Energy Department, through the Advanced Energy Manufacturing Tax Credit program (48C Program), which is also part of the president's Climate Action Planannounced "$150 million in clean-energy tax credits to build U.S. capabilities in clean energy manufacturing. The credits will go towards investments in domestic manufacturing equipment by 12 businesses."

Last August, it was reported that "Senior officials from the Department of Energy have signaled the Obama administration is ready to restart" the ATVM program (explained earlier). This is part   the Energy Department's loan power, of which if we go back in time, around June 2009, we find that the DOE starting funding electric cars. Needless to say, this program drew over 100 applicants, but only the "FAVORED FIVE" were granted ATVM loans, totaling $8.4 billion –– igniting red flags, spurring on lawsuits, bursting with electric issues, and thus far two have slipped into the abyss: Fisker Automotive ($529 million) and Vehicle Production Group ($50 million). Yet the Energy Department deems the ATVM loan program a success, however, others, in analyzing the facts, see that Obama's electric vehicle loan program as a "failure."

Follow the Money 

Since late 2009, we've been following the "green" money and connecting the dots –– money that not only led to plenty of fraud, waste, and mismanagement, but also abuse, cronyism, corruption, and failure. Today's post will provide you with a breakdown of where we started, how far we've come, and what's left to expose. The Green Corruption Files has unleashed a treasure trove of evidence that stems from over three years of extensive research; House Oversight reports, hearings and internal emails; Inspector General reports, whistle-blower Intel; as well as Peter Schweizer's bombshell bestseller, Throw Them All Out and various publications covering the topic –– proving that cronyism and corruption are the driving forces behind the Obama administration's clean-energy (climate change) agenda.

Green Corruption began in 2010 at Blogcritics Magazine 

  1. Obama’s Political Payback: Green Corruption, Part One first published @ Blogcritics Magazine July 19, 2010; then posted @ The Green Corruption Files April 28, 2012) 
  2. Obama’s Political Payback: Green Corruption, Part Two (first published @ Blogcritics Magazine July 20, 2010; then posted @ The Green Corruption Files April 28, 2012)
  3. Green Corruption: The Plot Thickens (first published @ Blogcritics Magazine August 7, 2010; then posted at @ the The Green Corruption Files April 28, 2012) 


The Green Corruption Files: 2012 with 23 Posts

  1. Green Corruption: Department of Energy “Junk Loans” and Cronyism (first published @ Blogcritics Magazine on April 17, 2012, then posted Saturday, April 28, 2012 –– also at EPA Abuse on May 1, 2012, California Political News and Views on May 5, 2012, and many other Conservative sites) 
  2.  BREAKING: BrightSource Energy Political Influence and Their $1.6 Billion DOE Loan (posted Wednesday, May 16, 2012)
  3.  BREAKING: NRG Energy on the DOE Cronyism Hot Seat, Also Tied to George Soros (posted Tuesday, May 22, 2012)
  4. Lou Dobbs "Shocks" Bill O'Reilly on the Severity of Obama DOE Crony Capitalism (posted Friday, May 25, 2012
  5. Obama-Tied Troubled First Solar $3 Billion DOE Loans Produce Majority of Jobs Oversees, CEO Sold His Own Stock; Plus More "Clean-Energy Dirt" Exposed (posted Monday, June 11, 2012
  6. Obama’s Green-Energy, Crony-Corruption Story; Special Seven, Part 1 Expanded Version (posted Saturday, June 30, 2012)
  7. Shining the Light on BrightSource Energy's $1.6 Billion Shady DOE Deal: Special Seven, Part Two (posted Friday, July 6, 2012)
  8. General Electric Making “Bank” off Obama's “Green” Stimulus Money; Over $3 Billion and Counting (posted Thursday, July 12, 2012)
  9. Senator Harry Reid’s Part in Green-Energy Crony-Corruption, Part Three of The Special Seven (posted Sunday, July 15, 2012)
  10. The First Solar Three Billion Dollar Swindle (posted Wednesday, July 25, 2012)
  11. Recent Oversight Hearing Reveals Shady Email Practices by Former DOE Loan Advisor Jonathan Silver; Abound Solar Blames China for its Demise (posted Thursday, July 26, 2012)
  12. How Democrats Say "Crony Corruption" in Spanish: Abengoa UPDATED VERSION (posted Wednesday, August 8, 2012
  13. Beacon Bust Tied to Obama Bundler and VP Hunter, the Infamous Washington Fixture, James A. Johnson (posted Wednesday, August 15, 2012)
  14. NextEra Energy: Third Largest Power Company in the World is the Third Largest Recipient of DOE Risky Loans; CEO Sits on President Obama's Jobs Council (posted Saturday, August 18, 2012)
  15. Obama’s Green Cronies Made DNC Cameo: Bundlers and Big Donors Tied to Billions of Stimulus Funds (posted Friday, September 21, 2012)
  16. Special Report Part One: Obama, the Green Loser; Cronyism Inc. (posted Monday, October 15, 2012)
  17. Special Report Part Two: Obama, the Green Loser; Cronyism Inc. (posted Monday, October 15, 2012
  18. Where are the 5 Million Green Jobs Candidate Obama Promised? (posted Monday, October 15, 2012)
  19. Green Alert: Tracking President Obama's Green Energy Failures (posted Saturday, October 20, 2012)
  20. BREAKING: Newly Released House Oversight Emails Incriminate White House in Green-Energy Loan Lies (posted Thursday, November 1, 2012)
  21. Busting Open Obama Energy Department's Den of Deception (posted Monday, November 5, 2012)
  22. DEVELOPING: Department of Energy Facing "Corruption" Lawsuit, Shocking DOE Emails, and the $8.4 Billion ATVM Program's "Favored Five" (posted Friday, November 23, 2012)
  23. The Green Five: Spreading the Wealth to Obama’s Ultra-Rich Jobs Council Members; Part One, 10/31/12 DOE Emails Prove White House Pressure on $1.3 Billion Loan to General Electric Wind Project (posted Sunday, December 23, 2012)

 

The Green Corruption Files: 2013 with 22 posts 

  1. Tuesday, January 8, 2013 –– Bank of Obama: John Doerr and Al Gore of Kleiner Perkins, The Mother of All Green Energy Stimulus Money Winners
  2. Monday, January 21, 2013 –– Climate Hawk Senator John Kerry and His Green Inside Deals
  3. Tuesday, January 22, 2013 –– Big Wind Energy Subsidies: A Hurricane of Carnage, Cronyism and Corruption
  4. Thursday, February 7, 2013 –– Obama's Jobs Council Closed: Mega-Rich Member Penny Pritzker "Rumored" for Commerce Job, “Related” to Two Large Green Corruption Stories 
  5. Friday, February 22, 2013 –– Citigroup’s Massive 'Green' Money Machine 
  6. Thursday, February 28, 2013 –– Wall Street Walks all over the Obama White House 
  7. Friday, March 22, 2013 –– Left-wing Billionaire George Soros: Obama’s "Agent of Green"
  8. Monday, April 1, 2013 –– SoloPower: Another Department of Energy “Junk Loan” Teetering with Over $250 Million of Taxpayer Money
  9. Thursday, April 11, 2013 –– Newly Bankrupt Chinese Solar Producer Suntech, Stimulus Tax Credit Winner and Contractor to Energy Department’s $337 million Junk Loan: a Tiny Fraction of Obama’s “Green Outsourcing"
  10. Wednesday, April 24, 2013 –– Failing Fisker Auto Finally Faces House Oversight Hearing: Chairman Jordan Exposes Another DOE Junk Loan, Declares, "Fisker should have never received taxpayer money”
  11. Thursday, May 9, 2013 –– Americans Bothered By the Way our Government Spends Taxes: Billions Burned on Obama's Green Energy 
  12. Wednesday, May 29, 2013 –– Smart Gird, Dirty Devices: With "friends" in the White House, Silver Spring Networks linked to at least $1.3 billion of smart-grid stimulus grants 
  13. Monday, June 10, 2013 –– Transparency Alert: HHS, DOL, and EPA NOT the Only Agencies Where Top Obama Appointees are Using “Secret Emails” to Conduct Govt Business… What a bout the Energy Department?
  14. Saturday, June 15, 2013 –– The Green Corruption Files Snags Special Gig on AACONS' Radio Broadcast
  15. June 30, 2013 –– Nuclear Crimes and Misdemeanors
  16. Saturday, July 13, 2013 –– Nuclear Disaster: $10.33 billion in energy loans pressured by the White House and POTUS approved, now at risk
  17. Wednesday, July 24, 2013 –– Subsidizing Obama’s Algae: Its advisors and allies 
  18. Monday, August 19, 2013 –– Billions of Obama biofuel bucks funded "not so shovel-ready" risky projects, fueled by more green corruption
  19. Friday, September 13, 2013 –– Top D.C. Lobbyist McBee Strategic Consulting “opened the spigot of green corporate welfare;” then billions of stimulus cash flooded the firm’s energy clients
  20. Saturday, September 28, 2013 –– Virginia Governor Dem Candidate Terry McAuliffe’s GreenTech Auto: small eco-car, big green scam?
  21. Tuesday, October 15, 2013 –– The RAT in the Recovery and the Gang of Ten 
  22. Saturday, November 16, 2013 –– Underneath Senator Harry Reid’s Clean-Energy Dirt: Career politician directly linked to over $3 billion in green energy stimulus loans

Marita Noon 21 Columns on the Green-Energy Crony-Corruption Scandal, which began in June 2012

  1. Crony Capitalism and President Obama: How the System Really Works (originally published: 6/10/2012)
  2. Obama’s Green-Energy Crony-Corruption (originally published: 6/29/2012)
  3. More Obama Green Energy Corruption (originally published: 7/6/2012)
  4. Senator Harry Reid’s Part in Green-Energy Crony-Corruption (originally published: 7/14/2012)
  5. The First Solar Swindle (originally published: 7/21/2012)
  6. How Democrats Say “Crony Corruption” in Spanish: Abengoa (originally published: 8/4/2012)
  7. Third Largest Power Company in the World is the Third Largest Recipient of Risky Loans (originally published: 8/17/2012)
  8. Obama Never Admits Green Energy Failures (originally published: 9/30/2012)
  9. Romney to Obama: “You Pick the Losers” (originally published: 10/7/2012)
  10. Obama’s Green Energy Jobs Promise: 355 Jobs and Counting (originally published: 10/14/2012)
  11. Emails Catch White House Lie on Green-Energy Loans (originally published: 11/1/2012)
  12. Busting Open Energy’s Den of Deception (originally published: 11/4/2012)
  13. Exclusive: DOE Corruption—Appointed and Elected Officials Should Face Prison Time (originally published: 11/25/2012)
  14. Inside Deals Mar John Kerry for State (originally published: 1/21/2013)
  15. Wall Street Walks on The White House (originally published: 2/24/2013)  
  16. Obama Creates More Wealth for Green Crony Soros (originally published: 3/31/13)
  17. On Earth Day, Let’s Waste More Money (originally published 4/22/13)
  18. Fisker: a free ride to make flashy cars in Finland (originally published 4/28/13)
  19. A six-pack of scandals (originally published 5/19/13)
  20. The dirty politics of “clean” energy (originally published 7/28/2013)
  21. The Macker—deal maker, not a car maker (or even a job creator) (originally published 9/29/13)
  22. Harry Reid's Personal Green Goldmine (originally published 12/9/13)

 

About Us

Christine Lakatos

I'm the mother of two terrific daughters; an ACE Certified Fitness Trainer with over 30-years experience in the health and fitness industry; diet book author; and retired bodybuilder with many titles under my belt, including an American Gladiators contestant back in 1990.

The Green Corruption Files began as a result of my research that was prompted in 2009, and ultimately marked me as a contributor to the political book, Killing Wealth, Freeing Wealth How to Save America’s Economy and Your Own –– Authors; Lee Troxler and Floyd Brown, and released May 2010. Two months later, I coined the phrase in my three-part series entitled, "Obama’s Political Payback: Green Corruption," which was first published at Blogcritics Magazine. 

Since 2011, I proceeded with my political research, specifically in this area, for Dr. Jerome Corsi, World Net Daily senior staff reporter and as well as Peter Schweizer, the president of the Government Accountability Institute (GAI), whose work has been featured on 60-Minutes, and just about everywhere that counts –– both are New York Times bestselling authors of numerous books.

Just last month, Dr. Corsi, in his article, "U.N. milks 'warming' claim to spend half-trillion-plus: Despite evidence of bad science, failure of 'green' energy,'" cited my work...

Researcher Christine Lakatos has created a website, GreenCorruption.blogspot.com, dedicated to exposing Obama administration corruption in funding $150 billion in green initiatives from 2009 through 2014. The funding included both stimulus funds and non-stimulus funds, promoting ultimately failed green energy projects that were tied to prominent Democratic Party politicians and contributors.

My short stint with Schweizer began after the release of his bombshell book, Throw Them All Out, which devoted an entire chapter to this green energy scam: Chapter 5, "Spreading the Wealth...to Billionaires."

By the end of 2011, it became clear that green corruption was a massive scandal on many fronts: "the largest, most expensive and deceptive case of crony capitalism in American History." However, it wasn't until April 2012 that I launched my blog in order to unleash the entire scoop, which was  prompted by the March 2012 House Oversight report titled, The Department of Energy’s Disastrous Management of Loan Guarantee Programs –– "a devastating indictment of the Obama administration’s 'green' energy cronyism." This not only validated my 2010 theory of corruption on the clean-energy front, it was the beginning of the realization of a  much broader scandal. So, with my subsequent research, I then went into high gear and released my first file entitledGreen Corruption: Department of Energy “Junk Loans” and Cronyism.

Just this month, the Reason Foundation released a study by Victor Nava and Julian Morris, "detailing the role political connections and lobbying played in securing [the DOE 1705 ] loans." Their Policy Brief, entitled "Stimulating Green Electric Dreams – Lobbying, Cronyism and Section 1705 Loan Guarantees," demonstrated that "the Department of Energy’s stimulus loans went to 'junk' grade investments and firms that spent the most lobbying."

While Reason's analysis focused on the lobbying efforts behind these loans (my 2012 examination was solely on the cronyism), "the report also highlights taxpayer-backed loans given to companies with ties to Senate Majority Leader Harry Reid, former Vice President Al Gore, former New Mexico Gov. Bill Richardson, and a company founded by former Maine Gov. Angus King, who is now a U.S. Senator," which included using our July 2012 work as a source –– only in two places, but it's still a big deal for us.  

“Ideally, the government would get out of the business of funding speculative energy projects like Solyndra,” said Victor Nava, co-author of the report and policy analyst at Reason Foundation.

Still, when the Solyndra bankruptcy story broke in September 2011 –– FBI raids, bundlers, DOE Advisors, "Fifth Amendment," and all –– most of the media ran with it, which carried on for a while. In fact, green energy cronyism was a hot topic during the 2012 election, even for the GOP, presidential candidate Mitt Romney, and many others, including conservative leaning commentators like Sean Hannity, who championed exposing this scandal.

Since the 2012 election has come and gone, most have dropped the ball on this important issue that impacts every American taxpayer and our energy uses. Not to mention that the president's clean-energy agenda has been used to fuel cronyism, corruption, and corporate welfare, while demonstrating how our government is run by Wall Street, special interests, Big Money, and in this particular case, Big Energy and Big Venture Capitalists –– all with friends in high places –– rather than what's good for our country.

The lack of attention to this green energy scam could be due to the fact that more gripping and deadly scandals have since emerged –– and even though they have swarmed the Obama White House for some time, most of them didn't heat up until 2013. Those include the Benghazi cover-up; the IRS profiling; the Department of Justice "secret surveillance" of reporters; and as of late, the lies behind ObamaCare.

Nevertheless, as fate would have it, in June 2012, Marita Noon, energy expert and columnist at Towhall.com, took the plunge. We immediately began our collaboration, which enabled my work to explode. What started as a regular American citizen expressing concern over how "green stimulus money was being used and abused," has turned into a mission: To expose one chunk of this Green Corruption scandal at a time.

In just a year's time, The Green Corruption Files went from a few hundred hits a month to 400 a day, to 4000 a month. Nineteen months later, we hit over 100,000 page views, and now we are well over 103,000. Today will be my 49th post, meanwhile, Marita has tackled 22 columns on this scandal, which is a direct result of my research, yet with a special touch and an occasional twist –– plus a much more diverse and expansive platform. 

Marita Noon is the executive director for Energy Makes America Great Inc. and the companion educational organization, the Citizens’ Alliance for Responsible Energy (CARE). Together they work to educate the public and influence policy makers regarding energy, its role in freedom, and the American way of life. Combining energy, news, politics, and the environment through public events, speaking engagements, and media, the organizations’ combined efforts have made Marita “America’s voice for energy.” Marita is also a columnist for Townhall.com and a regular contributor to The Heartland InstituteThe Energy TribuneConservative Action Alerts, and EPAAbuse.com. Additionally her writing can be found in numerous newspapers and websites.

Here's how Marita explains it...

Our partnership with researcher Christine Lakatos has been one of our most popular initiatives. Together we’ve done the most thorough expose on the Obama Administration’s green-energy crony-corruption scandal. Marita has written eighteen specific columns based on Lakatos’ research as presented on her blog entitle The Green Corruption Files — which is funded as a project of CARE. Our cooperative efforts have drawn the attention of Rush Limbaugh. His 2012 December Limbaugh Letter cited our list of failed green-energy companies and linked to The Green Corruption Files.

Besides Marita's extremely valuable and far-reaching exposure, The Green Corruption Files has been featured or cited at The Daily Caller, Fox Nation, GOP USA, Hawaii Free Press, Frontpage.com, Institute for Energy Research, Real Clear Energy, California Political News and Views, Blogcritics Magazine as well as USAActionNews.com. While we've gained traction across the Internet –– even places and publications you'd least expect –– Green Corruption has also been featured at organizations like the Patriot Action Network, Tea Party.org, and American c2c. (NOTE: most of these can be found on the side panel here on my blog site.)

Our collaboration has prompted quite a few high-profiled interviews which include The Daily Caller (March 31, 2012), The American Free Press (May 25, 2013), The Rodger Hedgecock Show (May 28, 2013, Marita live in the studio, but on Rodgers several times), and African American Conservatives (June 11, 2013).

Check out Marita's June 2013 Newsletter to learn more, and her list of audio recordings on the Green Corruption scandal as well as her expertise on energy issues in general. You can also find us both tweeting at @energyrabbit and @calfit32, as well as sharing on Facebook.

Two women –– a citizen & an energy columnist –– join forces on one mission: to expose one chunk of the Green Corruption Scandal at a time.

Our deepest appreciation goes out to the support of buddies like Bamboo Bob, our families' encouragement (even the liberal ones), and others that have helped this cause either by listening to my ranting, or visiting, reading, sharing, publishing, and financing our work.

Moreover, due to the financial support of Marita Noon's organization C.A.R.E. and a few direct donors, we were able to embark on this important work; however, we are still seeking donors, because there is much more to unleash, including updating the long list of clean-energy failures. At the end of 2012, I calculated that as many as 50 Obama-backed green energy companies were bankrupt or troubled, but I have since tracked more.

We also have yet to unleash the Department of Energy's Dirt Dozen; additional junk loans and cronyism; the SolarCity scam; revisiting the auto loans; lack of DOE accountability and transparency, and more. Furthermore, with the Green Bank of Obama ready to dole out more taxpayer money, we're ready to track and report on which companies or projects are chosen as winners.


Final thoughts....

Alarmingly, our environment has been hijacked by uber-rich individuals, crooked politicians, and an assortment of left wing extremists who are fueled by greed and power attached to a radical agenda to bring about “global governance,” “redistribute the wealth,” and put the progressive movement –– big government, social justice and the death of capitalism –– on the fast track. Under the guise of “saving the planet,” these players, who are all interconnected in a variety of ways, are transforming our climate into something more sinister –– a scam of epic proportions.

Wake up America; we've been robbed!

What's most frustrating –– downright outrageous ––  is that the "green corruption" suspects (and this entire money laundering scam) have escaped any repercussions, so we can anticipate that  clean-energy dirt will continue to surface. And, we must endure in our efforts to expose the eco-radicals, hypocrites, corrupt politicians, special interest groups, lobbyists, as well as the ultra-wealthy that enjoy special political access and influence, and all those behind (and whom financially benefit from) the Obama administration's massive, deceptive and expensive green energy agenda.

SPECIAL NOTE: This was first published on December 15, 2013 as Green Corruption in Review: Clean energy, dirty moneyAnd without funding (or commitments) by the end of December, sadly, this will be final post.

Thanks, -c

 

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4063756135?profile=originalNext February, we will celebrate the 5th anniversary of the American Recovery and Reinvestment Act (ARRA). You know, President Obama's trillion-dollar spending spree that was sold to the American people as a means to save our economy from the brink of disaster and create American jobs. 

As the former-House Speaker Nancy Pelosi said in 2010, when she and her left-wing minions were forcing the Affordable Care Act on the American people, “But we have to pass the bill so that you can find out what is in it, away from the fog of controversy.”

Quite the pathetic statement, however, it is eerily true for us American citizens, because we are either kept in the dark, lied to, or manipulated as to what our government is up to. And once any large piece of legislation is passed, time is what enables us to grasp its impact –– good or bad, corrupt or mismanaged –– and calculate the cost to us hard-working American taxpayers. History has already proven that our government has grown too large, too intrusive, and too expensive.  

To better understand this piece of the "green energy" scandal, let me remind my fellow Americans that President Obama promised to have, and claims to be, the most transparent administration in history. Yet here we are over fours yeas later with David Sanger, the New York Times reporter who has spent two decades reporting in Washington, slamming this theory by proclaiming that the Obama administration is the "most closed, control-freak administration" he's ever covered, reported POLITICO this month.
As if many of us didn't have that sentiment already, especially in the midst of a series of serious scandals that hit the White House this year. More so, when we learned that political appointees within the Obama administration, across several agencies, including the Energy Department, and recently the IRS, have been using secret or personal email accounts to conduct official government business. But secrecy is not the only thug tactic operating inside this administration: they have been known to intimidate inspector generals, as told by Gerald Walpin. "But I learned, through being fired by the Obama administration, that performing one’s responsibilities as one should, and potentially adversely affecting the administration’s image, is not the way to keep one’s job," Walpin wrote this past June.

This brings me to today's Green Corruption File, "The RAT in the Recovery and the Gang of Ten," which is the underbelly of this scandal. First is the deception: other than the overall "save the planet" manipulation, Americans were misled as to the real purpose of the stimulus package. Secondly, the Obama administration's "RAT maneuver" (and those behind it) leaves us with speculation (some will say proof) of premeditation and intention in regards to potential shenanigans with the stimulus funds. Last but not least, the "ten green stimulus authors" (yet there could be more) that I have uncovered and will expand upon in the third section of this post, were allowed to ensure that their "green" interests were represented in the stimulus bill, thus cashing in at the tune of tens of billions of tax dollars.

The RAT in the Recovery


What most don't know, not even the majority of Congress, is that there was a RAT hidden deep inside the 1,073-page stimulus bill, which was drafted by the Obama transition team and congressional aides.

Entitled the Obama-Biden Transition Project, it employed approximately 400 people and it was comprised of Obama bundlers and campaign contributors as well as lobbyist and those that operate inside Washington’s egregious revolving door. In the mix was a squadron of Center for American Progress (CAP) experts, the billionaire George Soros-funded liberal think tank. Within this transition group, we also find many that eventually operated inside this clean-energy scheme, of which I'll highlight later.

"From the first debates over the stimulus bill, the White House has promised unprecedented levels of transparency and accountability," noted U.S. News in 2009, even appointing Vice President Joe Biden as the nation’s stimulus spending cop, Stimulus Sheriff Joe, who ultimately went MIA.


Quite the contrary, and it all started when Team Obama starting planning their trillion-dollar spending spree, because “deep inside” the 2009 Recovery Act was a RAT, an attempt to suppress potential investigations, and only a few news outlets caught it in February of 2009: the Washington Post and the Washington Examiner.
As legislation was moving at rapid speed, and Congress continually failed to read the bills, the Obama administration had placed a “far-reaching and potentially dangerous provision." The creation of the RAT Board (Recovery Accountability and Transparency Board) was supposed to be “an oversight panel headed by a White House nominee.” 

The controversial provision emerged in a January 2009 draft of the bill prepared by Obama's transition team officials and members of the House Appropriations Committee, of which at that time it was labeled by the White House as “critical to prevent waste and corruption.” This RAT board gave them the authority to ask, “That an inspector general conduct or refrain from conducting an audit or investigation.”
 
Did you get that? An Obama appointee could dictate what to investigate and what investigations they wanted to squash. 

According to The Examiner...
When Iowa Republican Sen. Charles Grassley, a longtime champion of inspectors general, read the words “conduct or refrain from conducting,” alarm bells went off. The language means that the board — whose chairman will be appointed by the president — can reach deep inside a federal agency and tell an inspector general to lay off some particularly sensitive subject. Or, conversely, it can tell the inspector general to go after a tempting political target. …”
Senator Grassley (Republican from Iowa), also warned, "This is a dangerous provision that will hamper oversight, restrict transparency, and damage the independence of inspectors general."

Subsequent concerns arose, with Senator Claire McCaskill (Democrat from Missouri), who was alarmed by the sentence that allowed "the panel to order an inspector general to stop an investigation." As reported by The Post in February 2009...
The group representing federal inspectors general recommended that the entire disputed provision be deleted from the legislation, according to David R. Gray, counsel to Phyllis K. Fong, chair of the Council of Inspectors General on Integrity and Efficiency. 
Senate negotiators changed the board composition. While the president would appoint the head of the panel, the rest of the members would be inspectors general. 
House and Senate negotiators also added a line proposed by McCaskill saying that the final decision on whether to proceed is up to the inspector general. "The language sends a very clear message that the IG is in the driver's seat," she said.

As you can see, eventually lawmakers revised the original bill, and allowed “the watchdog agencies to reject the panel's decisions.” But only after they were BUSTED, leaving many wondering why another layer of bureaucracy? Worse, why would a panel be given that kind or power in the first place, power that was not entirely stripped away.

At that time, they named the former Interior Department Inspector General Earl Devaney, who helped uncover the Jack Abramoff scandal, as the head. Yep, we got a Stimulus Czar, and more taxpayer money going out the door: "The bill allotted about $350 million in oversight measures, including $84 million for the creation of an oversight board," as documented by U.S. News. Mr. Devaney has since retired, and in December 2011, President Obama appointed Kathleen S. TIghe Chair of the Board, with eleven Inspectors General from various federal agencies that serve with her. 

Moreover, “Per the Recovery Act, the Board's Recovery activities were supposed to end on September 30, 2013. However, in the Disaster Relief Appropriations Act of 2013 to assist states and individuals impacted by Hurricane Sandy, Congress stipulated the Board provide oversight of the funding through 2015.”

The irony here is that the RAT Board's stated goals are “to provide transparency of Recovery-related funds and “to detect and prevent fraud, waste, and mismanagement.” While I can't speak for the entire stimulus bill, I know that tucked inside was $100 billion that Team Obama carved out for their big clean-energy push (save the planet funds). Money that I have been following since 2010, which has not only led to plenty of fraud, waste, and mismanagement, but also abuse, cronyism, corruption, and failure.

Most critically is that this “RAT” maneuver only leaves speculation of premeditation and intention in regards to potential shenanigans (an understatement) with the stimulus funds, and the daunting question, what has the RAT Board done about the massive pile of clean-energy dirt? 

American Recovery and Reinvestment Act (ARRA) 
& Its $100 billion renewable energy earmark 

Shortly after President Obama began his reign as our 44th president, in February 2009, he signed into law the American Recovery and Reinvestment Act (ARRA). This was a massive economic stimulus bill –– among the biggest in history –– that was sold to the American people as a means save our economy from the brink of disaster and create American jobs.  

By the beginning of 2012, revelations revealed the real intent behind Obama's trillion-dollar spending spree ("walking around money"): it was “a key tool for advancing the Obama administration’s clean-energy goals and fulfilling a number of campaign commitments.” In fact, the 2009-Stimulus package was jammed-packed full of clean-energy provisions, of which about 10 percent of the monies were earmarked for renewable energy. 

It's important to point out that the $100 billion in stimulus funds is not the only money being used to fuel the Obama administration's efforts to save the planet using other people's money.  I'd say it's closer to $150 billion to date, and counting, because they continue to dish out more. In short, other departments handing out "green" include the U.S. Department of Agriculture’s Biorefinery Assistance Program, and we even find that there is a "Green War" being waged: "the Department of Defense has launched more green energy initiatives than any other federal agency and many are duplicative and wasteful," as reported by the Washington Free Beacon.
Another means where huge corporations and Obama's "green" pals get taxpayer money is through the taxpayer-supported Export-Import Bank (Ex-Im), who "has a Congressional mandate to support renewable energy and has been directed that 10% of its authorizations should be dedicated to renewable energy and environmentally beneficial transactions."

Additionally, the president's new Climate Action Plan, announced in July of this year, calls for releasing "$8 billion in loan guarantees for advanced fossil fuel and efficiency projects, and strengthen the Better Building Challenge to increase building efficiency 20 percent by 2020." Meanwhile, the "Obama administration is ready to restart the controversial automotive loan program designed to kick-start the development of alternative vehicles." This is the Advanced Technology Vehicle Manufacturing (ATVM) program that holds authority to award up to $25 billion in direct loans. 
Last fall, I chronicled how there were over 100 applicants for this section of the DOE's loan program, yet only the "FAVORED FIVE" were granted ATVM loans totaling $8.4 billion. Three of the five loans are directly tied to President Obama and the other two, both Ford Motor Co. and Nissan, were heavily engaged in negotiations with the administration over fuel economy standards for model years 2012- 2016 at the time DOE was considering their applications."
The ATVM is part of the Energy Department’s Loan Guarantee Program (DOE LGP) which has been a main focus throughout my work since April 2012. This is a program that consists of three separate entities: Section 1703Section 1705, and Advanced Technology Vehicles Manufacturing (ATVM), and has thus far guaranteed $34.7 billion of taxpayer money. Both Section 1703 and the ATVM programs were established during the Bush administration, and Section 1705 was created by the 2009-Recovery Act.

This is the same Energy Department program which the Green Corruption Files has exposed over and over how at least 90 percent of the winners have meaningful politically connections (bundlers, top donors, fundraisers, etc) to the president and other high-ranking Democrats –– in many cases, to both. It also brought you big alternative energy losers such as Solyndra, Beacon Power, Abound Solar, Vehicle Production Group, SoloPower, Nevada Geothermal, and Fisker Automotive, flushing billions of tax dollars down the toilet. Yet there are billions more still at risk, and we're keeping an eye on these DOE projects: AREVA and its $2 billion, Georgia Power Company and its $8.33 billion, NRG Energy, Inc. (BrightSource) and its $1.6 billion, First Solar and its $3 billion, and others.

Still, the Energy Department's loan program is not the only place where we find taxpayer-funded clean-energy losers. At the end of 2012, I calculated that "as many as 50 Obama-backed green energy companies were bankrupt or troubled." In May I revisited this area, with my new numbers reflecting that 25 are bankrupt, and there are four about to go under. Then, if we keep those that were having issues the same (at 29), the latest taxpayer-funded clean-energy failure list is about 60 –– with almost half bankrupt. Stay tuned for a new investigative report on this topic in the near future. 
Continue reading "The RAT in the Recovery and the Gang of Ten" at The Green Corruption Files...
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Did you know that that there’s a competitive and contentious governor race going on in Virginia? The two contenders: the state Attorney General Republican Ken Cuccinelli vs. Democrat Terry McAuliffe, “whose controversial business dealings and past life as a party moneyman make him a walking negative ad," wrote POLITICO this month. 4063741318?profile=original

McAuliffe, with a modest lead, Wednesday night during a crucial debate in Northern Virginia each "cast the other as unfit for office, untrustworthy and wrong for the commonwealth," noted the Washington Post.

Blows were thrown, with McAuliffe attempting to cast Cuccinelli as a "right-winger," and Cuccinelli landing a right hook: “If Terry’s elected governor, we’re gonna have to change the state motto from ‘Sic Semper Tyrannis’ to ‘Quid Pro Quo.'" Still, most of the headlines portrayed this debate as uneventful, and there was very little "pounding McAuliffe over transgressions such as the current federal investigation of a “green car” company that the Democrat founded" –– the focus of today's Green Corruption File.

While this battle will end in just over a month, the controversy surrounding the "green car" in question won't, and it serves as another example of how green energy has been hijacked and deceptively used. Even Kimberly Strassel of the Wall Street Journal, a while back had this to say, “Green crony capitalism is proving to be one of the more politically toxic stories of our time…” 

This green energy story has connections all the way from the Clinton's to the Obama White House, as well as other interesting ties, including a Republican governor, and plenty of taxpayer subsidies. Worse, besides "Chinese capitalism" at the helm, political influence, and a flop to boot, it involves exaggeration at best, deception at its worst, all wrapped up in a pile of mystery, and possibly bundled with a "green cards for sale" scheme. Meanwhile, this particular green project "has led to two federal investigations — one by the Securities and Exchange Commission to determine whether company officials improperly raised money and one by the Department of Homeland Security's inspector general to determine whether appeals to obtain visas for foreign investors were improper," reported TribLive News in August. 

The only difference in this tale, other than the potential threat to national security, and that President Obama is not at the center (although there are ties), is the fact that GreenTech is overly sensitive, even when facing facts. Case in point: sometime in April, GreenTech filed an $85 million lawsuit against an online government watch dog for libel, taking issue with two online stories, of which "detail the woes of the government immigration program, called EB-5. In one article, a financial expert criticized the EB-5 program as “a fraud," explained Watchdog.org.

Later I'll dig into the EB-5 program, but at this juncture it is important to point out that Watchdog.org, who has provided a 63-part series on "Terry McAuliffe, gubernatorial candidate and car mogul," stands by its reporting. "Jason Stverak, president of Watchdog’s parent company the Franklin Center for Government and Public Integrity, said the lawsuit is baseless," and many on the right have since expressed their outrage over what they deem as an attempt to intimidate and suppress the truth from being exposed.

"Hustler" on the move

Interesting enough, the politically connected heavyweight (a close friend and adviser to both former President Bill Clinton and his wife Hilary) and former Democratic National Committee Chairman, Terry McAuliffe is aligned with President Obama's "war on coal," and he also has the backing of "climate change radical," Big Oil investor, Obama bundler and billionaire buddy, Tom Steyer. I've addressed Steyer's footprint inside this Green Corruption scandal a few times, but now we see that just a bit ago he "has directed his political operation to spend heavily in the Virginia governor’s race in support of Democrat Terry McAuliffe," as reported by POLITICO

Wall Street Journal's Strassel, in covering GreenTech this past April –– “McAuliffe's Solyndra” –– nailed it in her statement, “Turn over any green-energy rock, and wiggling underneath will be the usual creepy mix of political favoritism and taxpayer-funded handouts. Add to this the Clintons, Mississippi and a murky visa program, and you've got a particularly ripe political embarrassment for Terry McAuliffe.”

It all started a few years ago: After losing the 2009 Democratic primary for governor in Virginia, McAuliffe bought a Chinese electric-car company, moved its headquarters to Northern Virginia and tried to set up a manufacturing base in the United States.

 

In July 2012, Mr. McAuliffe unveiled his signature MyCar at a rock-star event attended by the former President Clinton and then-Gov. Republican Haley Barbour, who is also personal friends with McAuliffe –– an electric car, by the way, that has recently received "awful" reviews by some auto industry experts. Four months later, November 2012, McAuliffe announced his plans to run for Virginia governor in 2013 and he stated in an email, "It is absolutely clear to me that Virginians want their next Governor to focus on job creation..."

McAuliffe has "made his private sector experience a cornerstone of his campaign" and is betting that his slogan, "McAuliffe for Governor: Putting Jobs First," will resonate with the folks. Still, prior to officially beginning his second attempt to be the governor of Virginia (although it seems he never stopped campaigning), sometime in 2009, he began a traveling road show, bragging about GreenTech, and using it as an example of how he was a big job creator, promising hope, hundreds of thousands of green cars and thousands of green jobs.

Due to the fact that Virginia denied access (for various concerns and doubts) to McAuliffe's electric-car dreams, he found a willing participant: "In October 2009, GreenTech Automotive Inc.'s owner, Chinese businessman Xiaolin "Charles" Wang [President and CEO] unveiled four prototype cars during a flashy ceremony and promised to build a $2 billion [some report it as $1 billion] plant in Mississippi, the poorest state in the U.S.," wrote Phys.org News. With the support of then-Governor Barbour, GreenTech was in line and has already received "public loans and grants that total more than $8 million, with millions more in tax exemptions and rebates."

At that time, GreenTech "promised it would create 1,500 jobs. McAuliffe predicted at least 10,000 cars a year would be manufactured by 2011," as documented by Politifact.com last month –– with another 2009 report stating, "the plant will produce 150,000 vehicles annually in phase one."


Considering that there are conflicting reports on the number of green cars and green jobs –– promised, claimed and actual –– I'll attempt to tackle that part of this tale a bit later. But to give you a hint, Politifact.com also noted, "GreenTech has not met those expectations, undercutting McAuliffe’s claim to be a proven job creator. The New York Times, in an Aug. 9 article, said GreenTech employs 80 people and that company officials would not say how many cars will be built this year."

But being a master job creator is not the only declaration made by McAuliffe: Breitbart.com busted him when he claimed that he was a founder of this start-up long after it existed. In May 2011, he told a Democrat audience, "I'm a founder of a company called GreenTech Automotive, a very ambitious project. I'm building 5 cars .... we have 3 hybrids and 2 electrics." However, Breitbart.com documented a chronological timeline on how GreenTech evolved by Mr. Wang, "a Chinese national, who first became involved in the project that would become GreenTech Automotive, Inc." –– and it all dates back to March 2008.

Mr. McAuliffe, who became chairman of GreenTech Automotive in March 2010, when things began to heat up, he mysteriously left his green car company sometime in late 2012. McAuliffe's "carbon footprint" may have been scrubbed from the GreenTech website, and all the while as hardball questions, serious accusations and ongoing criticism are hurled his direction, McAuliffe response is to distract and deflect: "Don’t ask me about GreenTech, I was just the Chairman."

Needless to say, evidence has emerged that as of March 2013, McAuliffe is still a GreenTech Exec, and is found to be the largest individual shareholder. This all came to light in a September 21 article by the Washington Post, divulging that McAuliffe "is listed in a recent confidential memorandum to prospective investors." His position, writes Breitbart.com, is described as "Chairman Emeritus of the company," noting that the document states McAuliffe "will have such duties and responsibilities as designated by the Board of Directors from time to time." The Post also notes that "the company’s confidential March memo implies to investors that he would remain involved" even if McAuliffe wins his race for governor. Basically, the memo says, that he would “resign all positions with [GreenTech] and appoint a representative to vote his shares.”

Additionally, the pitch to lure potential investors, touted the Democrat heavyweight's political connections, savvy, and McAuliffe’s past promotion of electric vehicles on “national television news programs.” It also included another PROMISE: GreenTech "will enjoy billions in government subsidies and tax credits."

What's quite fascinating is that The Post, in its 2013 analysis of what I am calling "McAuliffe's formula for success" (methodology that has made him a millionaire many times over), while giving an array of examples, concludes: "The prospectus, along with other documents reviewed by The Post, shows how GreenTech fits into a pattern of investments in which McAuliffe has used government programs, political connections and access to wealthy investors of both parties in pursuit of big profits for himself."

However, The Post wasn't so kind in 2009: "McAuliffe is, at his core, a salesman -- and described himself as a hustler in his [2008] autobiography [What A Party!: My Life Among Democrats...]" –– a label that at best is deemed a "go-getter," but has many other negative connotations. I'll keep that to your imagination, but The Post, a paragraph earlier wrote, "He is a deal maker who made millions from investments. And many of his biggest deals came in partnership with prominent donors and politicians, creating a portrait over the years of a Washington insider who got rich as he rose to power within the Democratic Party." In fact, one of the most disturbing references to his methodology is this: “McAuliffe has made a fortune investing -- sometimes in companies that went bust, laid off thousands and drained investors' and employees' savings."

The "Alleged" Corruption 

Special money 

Before he resigned as chairman in December 2012 –– although as documented earlier, we know he's still quite active –– McAuliffe helped raised plenty of private money from foreign investors, but GreenTech Auto also received its fair share of government assistance.

With GreenTech's 2009-promise to build a $2 billion plant in Mississippi, the poorest state in the U.S, "some 100 acres were donated by Tunica County's economic development foundation, at a cost of $1.8 million, and in 2011 the state gave a $3 million loan toward site preparation," as documented by the Huffington Post. 


"Breitbart News confirmed with the Mississippi Development Authority [MDA] on July 22 [2013] that these loans have been completely disbursed." However, Mississippi’s Economic Development Authority says the taxpayer subsidies are contingent on GreenTech raising $60 million by Dec. 31, 2014. If GreenTech fails to meet the capital requirement and hire 350 full-time workers, local and state authorities can “claw back” their investments. Good luck with that...

What's not widely reported is that the MDA got stimulus funds: The Mississippi Development Authority, Energy Division received approximately $40 million in American Recovery and Reinvestment Act (ARRA) funding from the U. S. Department of Energy (DOE).

Also, I have found conflicting reports on how much taxpayer money GreenTech snagged: it ranges from $5 million to $8 million, and even McAuliffe himself puts the price tag at $18 million. Not to mention for every car purchased, taxpayers again pay –– for example the MyCar NEV states, "...find state and federal incentives to make your MyCar even more affordable."

But the worst part comes from the fact that the private funds for GreenTech involves a program here in the USA called the Immigrant Investor Program, also known as “EB-5,” which was "created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors." What's relevant here is that "GreenTech has sought overseas investors through [this] federal program that allows foreigners to gain special visas if they contribute at least $500,000 to create U.S. jobs," documented The Post last month.

The other twist here is that "GreenTech partners with Gulf Coast Funds Management (GCFM), a company that is authorized by the U.S. Citizenship and Immigration Services (USCIS) to collect EB-5 investments for GreenTech." And, Anthony Rodham, a close friend of McAuliffe who also happens to be the brother of the former secretary of state Hillary Rodham Clinton, is the President and CEO of GCFM. According to an August 12, 2013 report by the Washington Free Beacon, "GCFM has collected at least $45.5 million from foreign investors for GreenTech through the program."

Special political favors

With so many numbers floating around –– $37.5 million in cash investments, says Breitbart.com, with $32 million from the "green cards for sale program" –– it's difficult to track just how much foreign cash McAuliffe and Co. raised for GreenTech Automotive. However, there is strong evidence –– not yet proven beyond a reasonable doubt –– that the USCIS gave them special treatment.

At the core is Alejandro Mayorkas, who currently serves as director of U.S. Citizenship and Immigration Services (UCIS), an agency within Homeland Security, and is also the Obama administration's nominee to become the next Deputy Secretary of Homeland Security. This is where it gets even more convoluted. As stated earlier, this "visas for sale" program has caused quite the controversy. Last month, the National Review Online reported that "the Homeland Security Inspector General is investigating to see whether officials gave special treatment to GreenTech because of McAuliffe’s political connections," of which NRO notes that "McAuliffe was central to GreenTech’s effort to get DHS to reverse decisions on visas."

That accusations was preempted by the Daily Beast July report: "in December 2010, McAuliffe wrote to Napolitano on behalf of GreenTech and asked her to expedite the company’s EB-5 requests and reopen consideration of requests that had been previously denied."  Moreover, we find via the New York Times: "Frustrated by government red tape slowing his electric car company, Terry McAuliffe repeatedly sought a meeting at the Department of Homeland Security."

The Times gives a few more details...

He and his lawyers sent a stream of e-mails to a senior official in charge of approving foreign investments that Mr. McAuliffe sought, and he went up the chain of command to Janet Napolitano, the secretary of homeland security... Finally, a 2011 meeting took place, and Mr. McAuliffe and Mr. Wang met with Alejandro Mayorkas [my words here]... As their meeting was wrapping up, Ms. Napolitano popped into the room to say hello, Mr. Wang said. Later, Mr. Mayorkas issued a favorable ruling that cleared the way for GreenTech to recruit more foreign investors.

The Times goes on... "In 2011, Mr. Mayorkas overruled two lower officers in his department, Citizenship and Immigration Services, which allowed GreenTech to recruit more Chinese investors."

In the Daily Beast piece we also discover that "this past January, Rodham wrote to Mayorkas directly and pressed him to speed up approval of EB-5 visas for GreenTech."

This past July NBC News reported that this particular IG investigation, "was opened in September 2012 based on a referral from an FBI counterintelligence analyst," and they gave some key points:

The probe is based on allegations that Mayorkas personally intervened to win an approval for Gulf Coast Funds Management, a financing company headed by Clinton’s brother Anthony Rodham, after USCIS officials rejected its application, according to an aide to GOP Sen. Charles Grassley, who had received internal USCIS emails about the matter from a department whistleblower.

During the course of the probe, the email states, the inspector general learned of other allegations "involving alleged conflicts of interest, misuse of position, mismanagement of the EB-5 program, and an appearance of impropriety by Mayorkas and other" officials within the UCSIS.

By the end of July, Republican senators, due to the ongoing IG investigation, boycotted the confirmation hearing set for Mayorkas, "Obama’s nominee to become the deputy secretary of Homeland Security, a job that could result in him running the department" since Secretary Janet Napolitano stepped down in September," wrote the Daily Beast. Mayorkas' confirmation has since been put on ice, but that was after the hearings proceeded in July without Republican participation, giving him an opportunity to plead his side of the GreenTech case: "I have never in my career used undue influence to influence the outcome of a case," Mayorkas testified in front of the Senate Homeland Security and Governmental Affairs Committee.

Even so, according to TribLive News, Senator Grassley, who is pressing for more information on Homeland Security's handling of the EB-5 program, recently charged, "We absolutely gave special treatment to Green Tech at the directive of D1" (“D1″ is an apparent reference to Mr. Mayorkas
). In an August letter, "Grassley told Alejandro Mayorkas that he has received a torrent of whistleblower reports that Mayorkas interfered continuously on behalf of GreenTech."

But a "homeland invasion" is not the only thing hampering McAuliffe and his eco-car's reputation: "in May [2013], the SEC subpoenaed documents from GreenTech Automotive and bank records from a sister company, Gulf Coast Funds Management of McLean," reported the Washington Post last month.


Even though The Post admits that "the full focus of the SEC investigation into GreenTech and Gulf Coast is not known, we do know that "in recent months, the SEC has stepped up its scrutiny of companies that use the visa program, largely over concerns that investors may have been misled or defrauded by the companies seeking their money. The visa program has also raised national security concerns from some lawmakers worried that suspect individuals are using it to gain entry into the country."

More GreenTech Cronies

Detailed thus far in this Green Corruption File has been some influential pals of McAuliffe: former President Bill Clinton, who appeared at a company launch party, Hillary Clinton’s brother Anthony Rodham, who runs the firm’s foreign-investor outreach, as well as former Republican National Committee chair and Mississippi Gov. Haley Barbour, who not only "helped the company secure millions in state incentives," but stood by Terry's side, even for photo ops.

Watchdog.org has also exposed Levar Stoney, a former director of the Virginia Democratic Party (2008 to 2009), who served as GreenTech's director of public and government affairs from May 2010 until December 2012. Then this past August we learn via the Washington Free Beacon that the former Virginia Democratic Gov. Tim Kaine, who is now a U.S. senator, in December 2009, "sent a letter to an official at the U.S. Customs and Immigration Service (USCIS), detailing Virginia policies that would benefit Gulf Coast Funds Management (GCFM)" –– and we've already established that GreenTech's sister company is GCFM, and where we find Terry's pal and Hillary's brother Anthony Rodham (President & CEO). 

Considering all that clout, there's a former Obama cabinet official by the name of Rick Wade, whom as Tori Richards (author at Watchdog.org and Human Events) puts it, "might be the insider who carries the most weight." Mr Wade, whose history includes "a founding partner of the Axelrod-Wade Group, a global business development firm," joined GreenTech Automotive in 2011, whereas his bio brags that he is currently the "Senior Vice President & Head of China Operations, following a distinguished career at the Department of Commerce."

Wade, while at Commerce, was involved in President Obama's trillion-dollar stimulus spending spree, yet he also had many other key Democratic positions, both during and after his time with Team Obama (see bullet point presentation). And as of late, Wade is planning on getting back into politics, and will be running for the United States Senate against Tim Scott, of which according to the Grio, "He is expected to announce his candidacy early next month." 

  • 2008: Senior adviser role for then-Senator Obama’s 2008 campaign
  • 2008: Wade chaired Obama’s successful South Carolina primary in 2008 against Hillary Clinton
  • 2009: Wade was a member of the White House task forces on Automobile Recovery (a $25 billion effort to prop up the failing U.S. auto industry), which was led by former treasury secretary Timothy Geithner and Economic Council Director Lawrence Summers.
  • 2009: Within Commerce, Wade served as interim chief of staff during the presidential transition, and he contributed to all major policy and personnel decisions. 
  • 2009 to 2011: Wade was also the Senior Adviser and Deputy Chief of Staff for Commerce Secretary Gary Locke, who served that role from March 24, 2009 until October 2011. Gary Locke resigned as the 36th Secretary of Commerce on August 1, 2011 to become the U.S. Ambassador to the People's Republic of China. And then John Bryson, who became Obama’s Secretary of Commerce in October 2011, is another player inside some of this clean-energy dirt. Bryson resigned in June of 2012 following a series of mysterious auto accidents, and now we have Penny Pritzker, the mega-rich pal of Obama, who raised mega-bucks for both of his presidential campaigns and was a member of his so-called jobs council, whereas she is “related” to at least two large Green Corruption stories.
  • 2009-2011: Additionally, while at the Commerce Department, "Wade worked diligently to ensure President Obama’s business and economic programs, including the American Recovery and Reinvestment Act, were implemented effectively and efficiently." Some say that Wade even helped craft President Obama's massive stimulus package, of which $100 billion was earmarked for renewable energy. These taxpayer funds have been the centerpiece of the entire Green Corruption scandal, of which I've been tracking and reporting on since 2010 –– even the fact that billions of "green" tax dollars have been shipped overseas to aid production of green ventures in foreign countries. 
  • 2009-2011: According to Watchdog.org, "The Commerce Department job also allowed Wade to hone a skill that might explain his value to GreenTech: he became a U.S. envoy on Chinese and Asian trade."
  • 2012: Wade, a member of the Democratic National Committee (DNC), was also a Senior Advisor to the Obama for America presidential campaign and the 2012 Democratic National Convention, which means that he helped run the president’s 2012 campaign while simultaneously serving as a Democratic Party executive and vice president of GreenTech
    Automotive.
  • Wade is (was) also part of the Advisory Board for Volt Energy

Now, I haven't found any clear evidence at this time whether Mr. Wade helped in any of the GreenTech dealings, but it's awfully convenient that Wade was not only involved in the 2009-Recovery Act, but worse, since joining GreenTech in 2011, he was actively part of President Obama's re-election bid –– thus he had "access and influence."

And, if you've been following any of my work, you'd know that I've published a series entitled "The RAT in the Recovery and the Gang of Eight”: those individuals and groups that were involved in crafting the energy sector of the 2009-Recovery Act, and who ultimately financially benefited from the $100 billion that was earmarked for renewable energy (with a summary installment coming in the near future). Keep in mind too, as mentioned earlier, the Mississippi Development Authority, Energy Division, –– the one that awarded GreenTech millions in state subsidies –– received approximately $40 million from President Obama's stimulus package.


"Fast Terry": Master Job Creator or Con Man?

Even though many news organizations, watchdog groups, and online forums have exposed the empty promises and debunked the claims in regards to GreenTech's factories, green cars and green jobs, I'll attempt to do my part, starting with a challenge: take the time to view "Fast Terry," a documentary by Citizens United. Besides being informed and infuriated, you'll discover that during the course of his traveling electric-car road show that began in 2009, McAuliffe promised hope, hundreds of thousands of green cars and thousands of green jobs –– all made in America


Two GreenTech Factories: 

The Horn Lake Facility in DeSoto County, Mississippi and The Tunica Plant in Tunica County, Mississippi

According to the New York Times, in 2011, while presenting GreenTech as a catalyst of American job creation, McAuliffe was adamant, “I am sick and tired of seeing our jobs go to China...” Ironically, GreenTech has two manufacturing facilities in Mississippi, where the company has received state subsidies, and one in China, as well as some office locations. 

  • GreenTech Automotive Corporate Office: McLean, VA
  • Tunica Office: Tunica, MS
  • Horn Lake Assembly Plant: Horn Lake, MS
  • Dongguan MyCar Electric Vehicle Technology Limited: located in China

Besides grants and loans from the state of Mississippi (totaling either $5 million$8 million, or $18 million), GreenTech sometime in September 2011, received a sweetheart land deal as part of their location compensation: "The Tunica County Economic Development Foundation, a group in Mississippi headed by Tunica County Chamber of Commerce president and CEO Lyn Arnold, worked out a strategy to secure land [100 acres] for GreenTech without going through the state’s legislative approval process," reported The Daily Caller this past July  –– which also emphasized that "Richmond’s Action News 5 recently reported there is no evidence GreenTech has produced any cars, green or otherwise." 

Meanwhile GreenTech's website (GTA), with a grand picture of their plant –– the Horn Lake Facility in DeSoto County, Mississippi –– claims, "With 380,000 square feet under roof, GTA's first plant will be used for the production of GTA's first vehicle, a neighborhood electric vehicle (NEV) named MyCar. They also claim, "In late 2013, MyCar production will move to GTA's all-new, state-of-the-art manufacturing facility located approximately 20 miles away in Tunica, MS," and that the "groundwork has already begun..." for the Tunica Plant –– again promising "5,000 new direct and indirect jobs in Mississippi and the vendor base nationwide."

It turns out that for more than one year (July 2012 to July 2013), the Action News 5 Investigators have been asking questions about GreenTech Automotive, "and its promise of hundreds of new jobs in North Mississippi." Action News also gave us another McAuliffe promise, followed by evidence that something is wrong...

"If I can be successful and make 10,000 cars over the next 12 months here in Horn Lake and ship them over to Denmark, that's a huge win for me, the company, and most importantly, Mississippi," said McAuliffe in July 2012.

Twelve months later, the Action News 5 Investigators have uncovered no evidence of any major car production and a former Greentech employee raises new questions about the company's operation.

"We were told, you know, when we first went in the fall of '11, we were going to build a 100 by Christmas, didn't happen," said the former employee, who asked to remain anonymous. "Then we were told we were going to build X amount through the year 2012 and that didn't happen."
 

The employee says workers built cars then deconstructed and rebuilt them over and over again to appear as though they were working.

What was GreenTech's response on reassembling of cars? "Both the plant manager Trey Agner and GreenTech Vice President Marianne McInerney said workers break down and re-assemble the cars for training and quality control," reported Action News.

Action News, in the same report said, "McInerney refused to release the number of vehicles actually made at the facility or sold last year because GTA is a private company. She would only say there are pending orders for the new 2014 MyCar," and McInerney told them that they "would create 350 jobs by the end of 2014 and those are direct jobs."

This investigation also uncovered the fact that GreenTech "told its employees in Northern Mississippi to pretend to build cars to fool foreign investors."


Furthermore, in April of this year, Watchdog.org made a visit to the GreenTech office located at a Tunica strip mall, whereas their investigators exposed quite the encounter, "Silence, secrecy, cops follow GreenTech’s China deal." One of the most interesting conclusions came from a local police officer stating, “They’re pretty secretive,” he said. “Just like the Russians.”

In that same April 25, 2013 article, Watchdog.org documented the following Intel, which coincides with, and adds another layer to what I just highlighted from the Action News investigation

Next door, in the Desoto County city of Horn Lake, it’s a different story — except for the secrecy and apparent lack of actual manufacturing. Locals said workers almost daily drive GreenTech’s tiny MyCars — two-seater, all-electric vehicles with a 25-mile range — around the facility in what looks like a test-drive caravan.

While some say that "Terry McAuliffe’s GreenTech has tried to import more Chinese Nationals than it has sold cars," on August 12, 2013, the Washington Free Beacon shed some light into what's going on: "Five Things You Need to Know About GreenTech Automotive." The number one issue being that GreenTech has fallen "short on job promises multiple times..." 

The Beacon goes on...

At this point it is unclear whether GreenTech is producing any jobs. 

GreenTech is still operating at what was supposed to be a temporary facility in Horn Lake, Miss. 

Although McAuliffe claimed that ground was broken at the company’s planed permanent facility, local investigators found that there was nothing but overgrown grass covering the plot on which it is supposed to be located.

(NOTE: Both photos are by Dustin Hurst –– one of the GTA office and the other of GTA's proposed production facility at the site in Tunica County, Mississippi, which I wrote about in this section ––  can be found at Watchdog.org, yet I placed them on my blog as well.) 

GreenTech Jobs 

As many are still pondering when GreenTech will build (or even begin to break ground) at their proposed $60 million Tunica plant in Mississippi, GreenTech jobs are even more puzzling. I must reemphasize that tracking both the number of cars and jobs –– promised, claimed, or even saved for that matter, versus reality –– has been a difficult task. It seems to be a moving target and depending on the day, what con tactics Terry has up his sleeve, or what the folks at GreenTech are smoking, it changes.

Now, I briefly covered this topic early on, but here is my bullet point presentation of what I found during my two-week crash course research project on GreenTech and all its shenanigans. (NOTE: big shout out to Bearing Drift: Virginia's Conservative Voice, for their list as well). 

  • October 6, 2009 / Memphis Business Journal: "Tunica County will become home to a new hybrid automobile development and manufacturing facility that will initially employ 1,500 with a $1 billion investment. The [Mississippi] plant will produce 150,000 vehicles annually in phase one."
  • 2009: "McAuliffe predicted at least 10,000 cars a year would be manufactured by 2011," as documented by
    Politifact.com this past August 
  • May 18, 2010 Terry's Newsroom: “McAuliffe has announced his intent is to eventually create 4,500 new jobs for the electric auto manufacturing firm in Virginia as well as Tennessee and Mississippi.”
  • May 20, 2010 / EVWorld.com: "GTA plans to create thousands of “'green collar'” jobs across Mississippi, Tennessee and Virginia. At full production, GTA will create over 4,000 new US jobs." 
  • October 7, 2010 / Bloomberg News: "GreenTech plans to buy parts abroad and assemble the cars in the U.S., creating around 5,000 jobs in economically depressed areas. Besides Mississippi, McAuliffe is looking at sites in Tennessee and Virginia and says he will go to the state offering the best tax breaks and other benefits." 
  • October 7, 2010, as written by Watchdog.org in Dec 2012: "In a 2010 interview, McAuliffe predicted that his company’s first-generation NEV would go on sale mid-2011. GreenTech initially pledged to hire thousands workers to assemble tens of thousands of vehicles a year at its new Tunica, Miss., plant by the end of 2012." At that time, "None of those projections has come close to fruition. The Tunica plant is still under construction, and the payroll barely tops 100 workers. 
  • February 2011 / You Tube clip (R): “I’m going to announce another major plant this year, which is going to be about 3,000 – 5,000 jobs.” – Terry McAuliffe 
  • August 6, 2011, but reported on September 5, 2011 / Automotive News“We can achieve two important goals at once. We can provide China with clean technology and help reduce carbon emissions in the country,” said McAuliffe, chairman of GreenTech, in an Aug. 6 press release about the China factory. The China project will create 2,000 jobs for Americans, he said.
  • November 2011 / Charlottesville Tomorrow: “Denmark has bought GreenTech’s first year of production, about 110 cars, which will be manufactured at a temporary plant in Horn Lake, Miss. McAuliffe is opening a permanent factory in nearby Tunica, which will eventually employ 350 workers." 
  • 2012: "Terry McAuliffe claimed in 2012 that the plant would be churning out 10,000 electric cars this year," reported by the Washington Free Beacon June 18, 2013
  • July 2012 statement by McAuliffe and reported by Action News 5 (July 2013): "If I can be successful and make 10,000 cars over the next 12 months here in Horn Lake and ship them over to Denmark, that's a huge win for me, the company, and most importantly, Mississippi." 
  • July 6, 2012 when GreenTech Automotive unveiled its environmentally friendly, energy efficient vehicle, MyCar / HR Professionals: “Former President Bill Clinton and former Mississippi Gov. Haley Barbour were on hand to help celebrate GTA’s relocation to the U.S. The company is expected to create 426 new jobs and support about 7,400 more.”
  • July 9, 2012 / HybridCars.com: “Production of MyCar and its derivatives, plus the all-new vehicles to be added to the product portfolio will lead to the formation of 5,000 new direct and indirect jobs in Mississippi and the vendor base nationwide,” GreenTech boldly says on its Web site.
  • April 12, 2013 / Mother Nature Network by Jim Motavalli: "I also talked to McAuliffe, and he said the company was planning on at least 400 employees in Tunica, Miss., with 3,500 indirect jobs. (The company launched with a temporary facility in Horn Lake, Miss.) “We have 14 job openings right now,” he said. “These cars will be made by American workers.” The 300,000-square-foot plant was supposed to be pumping out cars in mid-2013, which is now, isn’t it? 
  • July 6, 2012 / Wheels Blogs @ the New York Times: “Mr. McAuliffe said the venture would employ 900 workers in Mississippi by the end of the year, as well as create many jobs indirectly.”
  • July 15, 2013 / TimesDispatch.com: McAuliffe promised GreenTech Automotive would create 2,000 American jobs and produce cars
  • July 17, 2013 / PR Newswire: designed to have an annual production capacity of 30,000 vehicles in Tunica, Mississippi 
  • July, 2013 / Action News 5: GreenTech Vice President Marianne McInerney "refused to release the number of vehicles actually made at the facility or sold last year because GTA is a private company. She would only say there are pending orders for the new 2014 MyCar," and that the plant "would create 350 jobs by the end of 2014 and those are direct jobs."
  • August 12, 2013 / Phys.org News: The company says it will be producing cars by April, but its plans have changed dramatically, from a goal of 250,000 a year to 30,000...

Quite the track record, but in an effort to simplify, here a few of the latest stats that I could find on GreenTech jobs, starting in July of 2012 with HR Professionals Magazine, which stated, "As of July, GTA has more than 840 employees enterprise-wide, and they are on track to employ more than 900 more by the end of 2012." Later they add, "As of July [2012] there were 67 employees in the northern Mississippi sites (Tunica/Horn Lake) and eight employees in the McLean, Virginia office."

And July of this year, when Action News 5 Investigators attempted to get back inside GreenTech to check into the Horn Lake operation and its staff, the "GreenTech Vice President Marianne McInerney denied their requests each time, but claimed that 78 employees worked inside."

We also have (as presented earlier in this post) the New York Times, and its August 9, 2013 article that said, "GreenTech employs 80 people and that company officials would not say how many cars will be built this year."

Small Eco-car; Big Green Scam? 

At what stage each of the two GreenTech plants are and how much money they snagged from the taxpayers of Mississippi ($5 to $18 million), is still unclear. Neither do we know the exact status of both investigations, and what they will conclude: the Securities and Exchange as well as the Department of Homeland Security IG. But as the residents of Virginia buy into his campaign slogan, "McAuliffe for Governor: Putting Jobs First," how many green jobs GreenTech has created in the state of Mississippi as well as the number of green cars they've assembled here in the United States remains a mystery.

Since Terry is leading the Virginia governor race, I can only assume that Virginians haven't done their homework or maybe they just don't care, because GreenTech has left many of us in the dark: instead of hope, cars and jobs, McAuliffe and his electric-car dream has perpetuated nothing but confusion and frustration for the folks at Tunica County and many in the state of Mississippi. 

Obviously, GreenTech produces a small eco-car –– we've seen the flashy prototypes after all; like a high-end golf cart. Quite frankly, I wouldn't mind getting one for my teenage daughter (that way she can't go over 25 MPH); but the most critical question remains to be answered...is this a big green scam?

 

We report, you decide....

UPDATE, September 29, 2013: Marita Noon followed my research and this 9/28/13 post, adding her flair, personal experience as well as her take on what's going on with this small eco-car, and can be found at her Townhall.com column: Terry McAuliffe's MyCar Isn't Even a "Real Car": Car and Driver


Two Women –– one Citizen & one Energy Columnist –– join forces on One Mission: to expose one chunk of the Green Corruption Scandal at a time.


Read more…

On Friday October 26, 2012, President Obama told a local Denver, Colorado news anchor that decisions 4063718159?profile=originalmade in the loan program office are “decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.” 

 

Southern Company’s Vogtle Project Subsidized with $8.33 Billion of Taxpayer Money: Pressured by the White House (photo right courtesy of Inhabitat.com: President Obama's February 2010  announcement for Southern Company's $8B in federal loan guarantees) 

But let’s go back to the past: on Tuesday, December 1, 2009, Loan Program Office (LPO) contractor Paul Barbian sent an email to Office of Management and Budget (OMB) analyst Kelly Colyar, James C. McCrea, Senior Credit Advisor of the Loan Programs, as well as other DOE Officials.

With a subject line of “Vogtle: Deadline set by Secretary, Barbian writes, “Nick Whitcombe called me a few minutes ago (7:00 PM eastern). He told me that Dave Franz, Susan Richardson, and he had been called to the Secretary’s office and told to “agree” to the term sheet with OPC by Friday, Dec. 4, and to agree to the term sheet with MEAG by Dec 9. The time pressure is coming from the White House, according to Nick." Note: The DOE Official is Nicholas Whitcombe, the former Acting Director of the Advanced Technologies Vehicles Manufacturing Loan Program (ATVM).

This particular email was released by the House Committee on Oversight and Government Reform on October 31, 2012, which was accompanied by a summary memorandum and other material that contradicts the president's claim that "decisions" were made solely by the Department of Energy (DOE). In fact this is not the only case where the White House, President Obama as well as Vice President Joe Biden were actively involved in the DOE deal making –– a bombshell part of the Green Corruption Scandal that despite the fact that it was ignored by the media, Marita Noon and I immediately broke this story on November 1, 2012. Our headline read Emails Catch White House Lie on Green-Energy Loans, whereas I personally read and studied over 150 emails, which revealed a series of questionable practices, including coercion, cronyism, and cover ups.

 

In February 2010, "the Department of Energy offered a conditional commitment for an $8.33 billion loan guarantee to support the construction of the nation’s next generation of advanced nuclear reactors," referred to as The Vogtle Project. This loan guarantee was offered to Southern Company and its partners [Georgia Power Company, Oglethorpe Power Corporation (OPC), and the Municipal Electric Authority of Georgia (MEAG)] to build two nuclear reactors in Georgia, but according to recent reports, "the award has yet to be finalized.”

Eleven days ago I discovered that the Vogtle Project is in worse shape than I had documented this past May, adding to a long list of Obama’s taxpayer-funded clean-energy failures, of which we've tracked more than 50, with at least half bankrupt. On July 2, 2013, “Taxpayers for Common Sense released a report that pointed to Southern Company as the next project with potential to blow up in the federal government's face,” documented Kevin Glass at The Daily Caller.

 

According to this report: DOE Loan Guarantee Program: Vogtle Reactors 3&4, “On top of construction delays and litigation, the oversight and management of the construction of reactors 3&4 has been questionable." The report goes on, “As a result of the escalating construction costs of the Vogtle facility, most financial rating agencies are downgrading their assessment of the partners involved in the project.”

 

Since the February 2010 DOE proposal, Taxpayers for Common Sense notes that...

 ...In June 2010, the project partners accepted DOE’s offer. Since then, the Department of Energy has extended its $8.33 billion loan guarantee offer multiple times. Worse, “documents obtained through the Freedom of Information Act after years of effort reveal wide-ranging negotiations between the Office of Budget and Management, Department of Treasury, and the Department of Energy on what the appropriate credit subsidy costs should be. Years of closed-door negotiations have allowed loan guarantee partners to craft a deal that heavily benefits them and exposes taxpayers to even greater risk.

 

What I can also divulge from that Halloween email dump regarding this particular project is that on Wednesday, June 9, 2010 there was a meeting with Peter Orsag (former Director of the Office of Management and Budget) and Carol Browner (Al Gore's crony and former Climate Czar, now at the Center for American Progress, another huge player in this green energy scheme), which was requested by OMB and DOE “to work through issues that come up in the Loan Programs.”

Former DOE Loan Advisor Jonathan Silver and Chris Otness, Assistant at the Loan Programs Office, prepared the briefing, and it included a few familiar projects like Abengoa, Blue Mountain, and UniStar. However what struck me as odd is that OH Rep Democrat Dennis Kucinich –– a member of the House Oversight Committee, and as I reported last Julyadores Mr. Silver, and has been adamant that there is NO DOE scandal –– is found on page seven of that meeting outline. Maybe Kucinich was looking out for taxpayers...

#4. Kucinich Update, ISSUE: "Peter Orsag and Rep. Kucinich met about two weeks ago to discuss the Congressman’s request for additional information on our credit scoring process and the specific numbers around Vogtle." After a few notes, this meeting outline ends with a RESPONSE: "DOE and OMB lawyers will talk this week to discuss next steps. Kuchinich's letter addressed to you on this topic is now closed per General Council's Office."

Tim Carney: “Beneficiaries of Obama's policies bankroll inauguration” includes Southern Company
“Major corporations profiting from Obama policies [bankrolled] President Obama's official inaugural committee. While we know the names of the donors to Obama's inaugural, we don't know much more, because Obama is once again trampling his promises of transparency,” reported Tim Carney at the Washington Examiner this past January.
According to Carney, "Southern Co., one of the country's largest energy companies, gave $100,000 to the Presidential Inaugural Committee (PIC)," and that “Southern Co. is the biggest beneficiary of Obama's push for loan guarantees for nuclear power plants, with an $8.3 billion guarantee in the works for a new Georgia plant” –– a main focus of this file. 

Carney further notes, "Of course, this undermines Obama’s talk about battling the special interests and getting corporate money out of politics — again. But it’s interesting because of Southern’s relationship with the federal government, and Obama’s agenda on climate change." And it turns out that "Southern has received stimulus grants and other federal funds [part of the global warming push], adding up to over $825 million over the years, for smart grid, coal gasification, and carbon capture."

After a quick glance at USASpending.gov, as of July 2013, the current amount is $826, 616, 524. While some of the transactions don't seem to match Southern's firm, the total is 135, and this figure includes some that predate the Obama administration. Yet what's startling is that this dollar amount is for federal grants alone –– free taxpayer money going to this giant energy company, the majority from the Department of Energy.

Recently, the Institute for Energy Research (IER) took aim at the president's new climate agenda, which circumvents Congress and as stated by Reason.com, "ambitiously seeks to control nearly every aspect of how Americans produce and consume energy." IER's issue in this case is that President Obama's "alleged all-of-the-above energy policy includes large taxpayer subsidies for so-called clean-coal technologies, including carbon capture and storage."

 

If you've been paying attention, and what the IER is referring to is that part the new climate plan includes Obama's proposed $8 billion in federal loan guarantees relating to "decarbonizing coal" –– fossil fuel technologies to reduce the country’s greenhouse gas emissions. It seems that even some "greenies" aren't too happy about this: "The proposal would fund schemes such as waste heat recovery and carbon dioxide capture, however it has unsurprisingly received criticism as it would draw focus away from green technology projects such as renewable energy and electric vehicles,"wrote Inhabitat.com.

 

Yet here we find another clean-energy failure, and begin to connect more cronyism dots.  Mississippi Power, a subsidiary of Southern Company, launched a project in 2010 (a 582-MW lignite-to-gas-to-electricity), which was subsidized with taxpayer money: $270 million grant from the Department of Energy and $133 million in investment tax credits approved by the IRS. The Kemper Power Plant–– complete with carbon capture –– according to the IER, was "once touted as a showcase for clean-coal technology, but is now officially a boondoggle."

Obviously, Southern Company benefited from the energy sector of the 2009-Recovery Act as well as past and potentially new clean-energy legislation, even raking in huge amounts of taxpayer money. And as they continue their huge lobbying presence, Southern has plenty of political power to ensure a victory at every turn, despite any risk to the American taxpayer.


Energy Giant, Southern Company: Heavy Hitter Lobbyist and Big Donor to Both Political Parties 
Taxpayers for Common Sense reported, “Last year, Southern Company spent far more than any other electric utility on lobbying the federal government, according to the Center for Responsive Politics. It spent $15,580,000 in 2012, or roughly $42,000 a day, in order to help strong arm a deal when their financials and the project all point to a bad investment for taxpayers.”

Labeled by Center for Responsive Politics as a “heavy hitter,” Southern Company, one of the nation’s biggest electric utilities, serving nearly 4 million customers in Alabama, Florida, Georgia and Mississippi, lobbying price tag has been close to that rate for many years. Furthermore, “46 out of 62 Southern's lobbyists in 2012 have previously held government jobs.”

Southern Company, through individuals, PACS, and their affiliates gives significantly more money to Republicans than Democrats, and in 2012 donated to both Mitt Romney ($51,350) as well as President Obama ($12,080), yet in 2008 they gave Senator Obama $25,752. And let's not forget, as recorded earlier in this post, that Southern also bankrolled President Obama's 2013 Inauguration.

While there are fourteen members of Congress (six Democrats and eight Republicans) that own shares of stock in Southern Co, one of the most notable stock holders is one of the richest members of Congress: Secretary of State John Kerry, whereas he has owned Southern stock  for a while –– with a dip in 2009, and as of 2011 the value listed is $1,001 to $15,000.

"For years, Kerry [a leader in the crusade against global warming] has invested millions in a number of green energy companies that have benefited from the president’s efforts to aggressively subsidize the industry with taxpayer dollars," wrote the Washington Free Beacon in 2012.

Meanwhile this past January, prior to Senator Kerry's promotion to Secretary of State, we unleashed my research: Climate Hawk Senator John Kerry and His Green Inside Deal, documenting Kerry's influence on the 2009-Recovery Act. More specifically he “played a key role in securing energy tax provision increases to include a long term extension of provisions that provide tax incentives for the production of renewable energy and tax credits for conservations.” However, it was Kerry's timelyinvestments into the Venture Capital (VC) firm Kleiner Perkins, home of the climate changeevangelists duo and President Obama's climate cronies: the mega rich John Doerr and Al Gore, who both enjoy political access and influence, and that made a killing on the stimulus package, which caused alarm for many of us.

More than fifty percent –– at least 36 of the 66 listed as of December 2012 –– within Kleiner Perkins  greentech portfolio have benefited from loans, grants, and special tax breaks, of which my December 2012 tally confirms that Kleiner Perkins raked in at least $1 billion in clean-energy government subsidies, the majority coming from 2009-Recovery Act –– a piece of legislation that both Kerry and Doerr participated in crating. Then if you factor in Kleiner Perkins' collaboration with Al Gore's London-based Generation Investment Management (GIM) that number increases significantly, putting the figure up to at least $10 billion from the taxpayer-funded Green Bank of Obama.

Kerry seems to average about twelve percent of his published assets in "energy & natural resources," and with a quick glance, besides Kleiner Perkins and Southern Company, we find that there are numerous large corporations that are tied to massive amounts of renewable energy funds (the "green") that was shoveled out of the 2000-Stimulus bill: such as BP, Bank of America,Citigroup, Exelon Corp, General Electric, and Google –– all TOP 2008 Obama donors, with a few again in 2012. However, we would have to analyze the timing on these stock transactions and dig further to make any future assumptions in regards to Kerry's green inside deals.
 
The $2 Billion French Nuclear DOE Deal: POTUS Approved 

Even though we mostly cover green energy, my last post exposed a huge Nuclear Crime Story, which occurred under both the Bush and Obama administration’s watch, and today I'll continue with nuclear corruption, of which the Energy Department's loan program places in the clean-energy section.
To get a better sense, it's important to understand that Section 1703 of Title XVII of the Energy Policy Act of 2005 "authorizes the U.S. Department of Energy to support innovative clean energy technologies that are typically unable to obtain conventional private financing due to high technology risks." These technologies include: "biomass, hydrogen, solar, wind/hydropower, nuclear, advanced fossil energy coal, carbon sequestration practices/technologies, electricity delivery and energy reliability, alternative fuel vehicles, industrial energy efficiency projects, and pollution control equipment."

Thus far the Obama administration, through the 1703, has awarded $10.33 billion for two projects: the France-based company AREVA, and Georgia Power (energy giant Southern Company), of which in November 2012, I had warned that they were both suspect for cronyism and corruption, and by the end of 2012, AREVA's Eagle Rock Enrichment facility made it on my 2012 Green Energy Failure Alert List (in the troubled category), and by May of this year, both were added to that same grouping. (NOTE: The asterisk is proven cronyism and corruption).
  • AREVA* –– $2 billion went to fund the Eagle Rock Enrichment Facility (EREF) in Idaho Falls, ID, which is supposed to support 310 permanent jobs, with 1,000 temporary construction. While this agreement was confirmed in May 2010, as of May 2013 they are still struggling to get this project off the ground.
  • Georgia Power Company* –– In February 2010, $8.33 billion was awarded for Plant Vogtle project to support 800 permanent and 3,500 temporary construction jobs. In May 2013, I found that they were still having financial issues, yet we can now confirm that it is much worse than I had reported.
In October 2012, I had made a big deal out AREVA, the French state-owned nuclear giant, due to the fact that they have an indirect connection to Doerr and Gore's VC firm Kleiner Perkins, and that we are enriching the French with American tax dollars.

On February 8, 2010, Ausra Inc. –– a Kleiner Perkins investment that “develops and deploys utility-scale solar technologies,” also a GIM investment –– was acquired by AREVA. Plus Ausra, now AREVA Solar Inc. was awarded a $14 million 1603 grant for "solar electricity" in California two weeks later. Maybe not a smoking gun, but I have also noted the many issues surrounding this $2 billion DOE transaction, starting with the rumors of AREVA “suspending its Idaho uranium enrichment plant,” which circulated in late 2011, and that AREVA's CEO Luc Oursel did confirm: “the company has been hit by financial problems that will affect the Eagle Rock Enrichment Facility and others worldwide.” Further, according to John Stossel's 2012 Green Energy Myth, “Shareholders of AREVA lost over 60% of their money in 2011."

This past November, AREVA caught my attention again when I found more damning evidence in the House Oversight bombshell emails, implicating then-Energy Secretary Steven Chu and his commitment on the UniStar project (they were seeking an $8.7 billion DOE loan for their Calvert Cliffs Nuclear Power Plant) to Steny Hoyer when he was the House Majority Leader in 2010.

It turns out that EDF Group, "one of the leaders in the energy market in Europe" that snagged $204,986,935 of free taxpayer money  and AREVA, "ranked first in the global nuclear power industry" (both a tiny fraction of "Obama’s green outsourcing"), are both partners of UniStar Nuclear Energy. In full disclosure, so far, this $8.7B transaction seems to have been squashed, but not before emails that demonstrate a rushed process that was derailed by the 7th floor, and others.

This was a fast-tracked process imposed by President Obama, yet before Congressional Oversight hearings in 2012, it was denied by DOE Officials. Nevertheless, these emails proved that they used these "rushed" tactics to push through AREVA's transaction, and President Obama, despite what he told the American people prior to the 2012 election, was actively involved in many of the Energy Departments' deal making process, including AREVA’s $2 billion deal.
In an email dated September 1, 2009, James C. McCrea, Senior Credit Advisor of the Loan Programs at the Department of Energy wrote, "Re the rushed process, I agree. What makes it far worse is that we are doing our analysis, preparing the term sheet etc. (not ETC!!) before the project has really gelled. In the commercial financial world, this transaction [AREVA] would not be ready for real financing discussion/term sheet preparation for at least a year." 
From an email dated March 1, 2010 from David Schmitzer, DOE LPO Director of Loan Origination to LPO Credit Advisor McCrea and others:
“Jonathan just said at our staff meeting that, opposite the message received on Thursday, AREVA is now a “go” (seems on Friday POTUS himself approved moving it ahead).”
From an email dated October 30, 2010 from DOE Loan Program Office (LPO) Credit Advisor Jim McCrea to LPO Executive Director Jonathan Silver: “I am growing increasingly worried about a fast track process imposed on us at the POTUS level based on this chaotic process that we are undergoing...by designing the fast track process and having it approved at the POTUS level (which is an absolute waste of his time!) it legitimizes every element and it becomes embedded like the 55% recovery rate which also was imposed by POTUS.”

Fast forward to today: this POTUS approved $2 billion loan may be at risk, because on May 23, 2013, the Associated Press announced, "French company won't set date for Idaho nuclear facility," noting that "work on the $3 billion Eagle Rock enrichment plant was meant to start in 2011. That was delayed to 2012, then 2013 and 2014. Now, AREVA says only that the facility remains a priority but that it would be imprudent to give a ground-breaking date amid unresolved talks with financing partners."
Department of Energy Loans: Halloween 2012 Emails Prove Participation and Pressure by the President 
As we exposed on November 1, 2012, and since, these shocking emails and documents –– both Appendix I and the 350+ page Appendix II that the House Oversight Committee obtained from current and former DOE employees and contractors, many of which had been withheld by the Department of Energy for more than a year prior to their October 2012 release –– are a treasure trove of Intel. They prove that President Obama and the White House were actively involved in pressuring and participating in the approval process of these loans, whereas since 2009 they have spent $34.4 billion of taxpayer money, funding 33 projects.
Throughout these email interactions we find plenty of references to the president, POTUS, the "7th floor," and "the Hill." There were even high-level meetings with Valerie Jarrett, "rahm," and Carol Browner –– just to name a few. On four projects: Abengoa, Abound, First Wind, and Beacon, email dated June 25, 2010, states, "DOE is moving with 'the fierce urgency of now,'" and references to "WH intervention" and "significant WH support." 

Besides email interactions that showed inter-fighting between the DOE, OMB and Treasury, and the fact that DOE Officials were trying to change the loan application policies in the middle of the process, these emails also exposed the cozy relationships DOE Officials had during the loan review process with loan applicants CEO's, lobbyists, and investors, etc. It's no surprise that they had meetings and calls with DOE Officials and Energy Secretary Chu, but there are documented meetings and calls with the president, VP, and WH as well as plenty of "green fraternizing" going on –– bike riding, coffee meetings, sleepovers, "beer summits," Al Gore parties, dinners, Democrat fundraisers, and so on.

The Energy Department’s Loan Guarantee Program (DOE LGP) has been a main focus throughout my work, and it’s worth repeating that it consist of three separate programs: Section 1703 (discussed above), Section 1705, and the Advanced Technology Vehicles Manufacturing (ATVM). Both Section 1703 and the ATVM programs were established during the Bush administration, meanwhile, Section 1705 was created by the 2009-Recovery Act, the trillion-dollar spending bill that was touted as a means to save our economy and create jobs.
Needless to say –– gimmicks and hype aside, of which we have documented many times how the Obama administration has tracked their so-called green jobs –– if you take the DOE's own accounting in looking at just the 1703 and 1705 DOE loans you find that "renewable energy projects cost US taxpayers $26 billion for only 2,300 permanent jobs, which is $11.5 million per job," reported The American Enterprise Institute this past May.
Moreover, it should be noted that while we've been tracking the $100 billion renewable energy earmark tucked inside the trillion-dollar spending bill, known as the stimulus, and subsequent dirt that accompanied (including all of the DOE's loan power), there were additional stimulus funds that were appropriated to the Energy Department. This includes $11 billion for Grid Modernization, the $5 billion Home Weatherization Program, the $6 billion Nuclear Waste Clean Up, as well as $3.4 billion for carbon capture and sequestration demonstration projects, $2 billion for research into batteries for electric cars, $500 million for Green Jobs Training, and funds that went to various State Energy Programs, and so on.

But there were other stimulus "created or saved" programs such as the 1603 Grant Program –– another green government giveaway that was created by the 2009-Recovery Act. The 1603 is administered by the Treasury Department where billions in favored-businesses are given tax-free cash gifts, of which as of the end of 2012, they recorded 8275 awards, totaling $15,964,130,442. This program was also touted as a jobs creator (saved and supported, not created), yet most of the so-called green job gains, if any, are temporary. Worse is that in 2012, we found out that Section 1603 grants for renewable energy does not even include job creation among its primary objectives.
Others impacted by the stimulus package were the Investment Tax Credit (ITC) and the Production Tax Credit (PTC) as well as the fact that the 2009-Recovery Act awarded the Office of Energy Efficiency (EERE) $16.8 billion for its programs and initiatives. And taxpayer-funded government agencies were also given "green initiative” money from the stimulus, who then dished it out their favored "green" projects. One example is the Environmental Protection Agency who in February 2009, "released $6 billion to individual states for clean water programs."
The U.S. Department of Agriculture’s Biorefinery Assistance Program, funded through the energy title of the farm bill, which was first introduced in 2002, also provides government-backed loan guarantees to support renewable energy, as they did with Range Fuels and others, since 2009 for about $1.02 billion. In the Range Fuels case, which received a $76 million federal loan from the Bush administration in 2007, and over $80 million from the Obama administration in 2009 ($46 million DOE grant and a $40 million USDA loan guarantee), eventually went bust in 2011.
Another means where huge corporations and Obama's green cronies get taxpayer money (corporate welfare and crony capitalism) is through the taxpayer-supported Export-Import Bank (Ex-Im), who "has a Congressional mandate to support renewable energy and has been directed that 10% of its authorizations should be dedicated to renewable energy and environmentally beneficial transactions." Two green energy failures come to mind here: First Solar and SolarWorld, who both enjoy key political connections, and snagged their "faire share" of stimulus funds.
That being said, my quest to track President Obama's clean-energy funds (taxpayer money)  –– $100 billion from the stimulus as well as other green energy money that is being used to push through his massive and radical climate change agenda, while rewarding his allies, can be a difficult task. But what I can confirm is that The Green Corruption Files does provided the most comprehensive and current record of clean-energy failures as well as the dirt that accompanies: cronyism, corruption and criminality as well as waste, fraud and abuse.

Our 2012 Green Energy Failures tally was 52 –– 23 bankrupt and 29 troubled –– capturing the attention of The Daily Caller and many other conservative news outlets, even gracing the pages of Rush Limbaugh "letters." This past May, I revealed a new bankrupt list: 25 that have gone bust, with four about to go under. Stay tuned, as my new accounting is in the works with predictions of a newclean-energy failure that could hit 60. But for the sake of keeping my research organized and focused on today's feature, the Department of Energy's $34.4 billion, below I'm listing the Obama administration's clean-energy failures just from DOE's Loan Guarantee Program, which is three down, four about to go under and seven in trouble for various reasons, the majority financial. Ironically, just last month, Former Energy Secretary Chu told the San Francisco Chronicle in an interview to expect more green energy companies that got government-backed loan guarantees to go bankrupt.

 BANKRUPT
  1. Solyndra*: In September 2009 Solyndra, once the poster child for the president's clean energy initiative that is now art, received $535 million 1705 DOE loan and $25.1 million in California tax credit. Bankrupt: September 2011. What started as an unworthy investment, snagged a 2010 White House endorsement, only to become a PR nightmare that included a loan restructuring (an apparent violation of the law) and even a plot to hide their troubles from the 2010 midterm glare. Solyndra became a cautionary tale of sorts: a failed Obama green investment, one of the first to go kaput, unethical executive bonuses included, leaving in its wake FBI raids, and a trail of resignations and damning emails –– all evidence that President Obama's "clean" energy is dirty: The Green Corruption Scandal. But the Solyndra Saga (only the tip of iceberg) continues, because just this week, Reuters reported, "The founder of bankrupt solar panel maker Solyndra will likely avoid criminal charges even if charges are brought against other former executives of the company."
  2. Beacon Power*: In August 2010 they snagged a 1705 DOE loan for $43million. Additionally, Beacon received at least $25 million in grants from the DOE and the state of Pennsylvania for a 20-megawatt plant in that state, plus $2.2 million from the DOE's Advanced Research Projects Agency-Energy (ARPA-E) –– created in 2007 under the Bush administration, whose funding was increased under the Obama administration. Bankrupt: October 2011
  3. Abound Solar*: Received part of a $60 million grant under the Bush administration, and in December 2010 was awarded a $400 million 1705 DOE loan under Obama. Additionally, Abound was awarded a $9.2 million loan from the Export-Import Bank in July 2011. Abound went down in June 2012 but "a Daily Caller News Foundation investigation revealed that Abound solar was selling faulty solar panels that routinely underperformed and even caught on fire. The company reportedly knew its panels were faulty prior to receiving taxpayer dollars and may have misled investors in order to keep the company afloat until federal aid came in," which by October 2012, prompted a criminal probe. Abound is still in the news, because not only did they rip off American taxpayers, they left a toxic waste dump –– hazardous material left behind in their Colorado facilities, but as of late, the clean up is almost complete.

On the Verge of Going BUST and BAILOUTS
 As of May 2013 with some current updates 
  1. SoloPower*: On April 1st I had ranted about SoloPower and its $197 million loan DOE "junk loan," from the stimulus-created 1705 program, and the fact that they also got $40 million from the State of Oregon. Additionally, "SoloPower also received a $20 million state tax credit, which it sold at a discount to other taxpayers in exchange for cash." Then on April 22, the Oregonian’s headline read: “SoloPower moves to power down Portland factory, gut remaining workforce.” But lo and behold, as I was preparing this post (July 10), the Oregononian reported that "SoloPower has defaulted on a $10 million loan," of which it seems that is one of the loans that came from the Oregon Department of Energy, marking this as another major setback and continued cloud hovering over this project as well as over $250 million in taxpayer money.
  2. Nevada Geothermal Power Company, Inc.*: In September 2010, Nevada Geo was awarded a $98.5 million loan guarantee that came from the 1705 for the Blue Mountain project to build a geothermal power plant, plus $69 million in federal stimulus-funded grants. In October 2012, I noted that in July 2012, the Washington Times reported that the power at Nevada Geothermal (NGP) was dimming and may be the next green energy bankruptcy. At the end of September 2012, Bloomberg followed up: NGP "may transfer ownership to a lender after projecting the facility will produce less power than expected." And sure enough NRG's Blue Mountain got another bailout, as their first was from the Energy Department in 2010 when they approved this $98.5 million loan –– a fact we noted last summer when we covered Senator Harry Reid’s part in green-energy, crony-corruption. In April of this year, financial news reported that Blue Mountain had owed almost $200 million to its private lenders, and that NGP "has completed the sale of the Blue Mountain Geothermal Project to funds managed by EIG Global Energy Partners, LLC, the mezzanine lender for the project, pursuant to an equity and collateral transfer agreement." We'll have to check to see if they will be paying back the taxpayers, but they did get a makeover, and as of April 3, 2013 NGP changed its name to Alternative Earth Resources Inc.
  3. Fisker Automotive*: We covered the April 24, 2013 Congressional Hearing and Fisker's $529 million ATVM loan. And according to DelawareOnline.com this past June, "Gov. Jack Markell gave Fisker a package of $21.5 million in state taxpayer grants and loans to come to Delaware and continues to cut checks for utility bills inside the Newport-area plant, which was shuttered by GM in 2009." Most are declaring that Fisker is about to crash, and a full report can be found in my postFailing Fisker Auto Finally Faces House Oversight Hearing: Chairman Jordan Exposes Another DOE Junk Loan, Declares, "Fisker should have never received taxpayer money.” Meanwhile, Co-founder and Former Executive Chairman Henrik Fisker is circling the globe to figure out how to salvage Fisker Automotive, even collaborating with foreign tycoons. Hmm, it leaves one wondering what Al Gore is doing to save his auto investment.
  4. Vehicle Production Group (VPG)*: I was one of the few that covered VPG's March 2011 $50 million ATVM loan with ties to Obama bundler and "VP Hunter," the infamous Washington fixture, James A. Johnson, whose firm Perseus portfolio lists two more taxpayer-funded bankruptcies: Beacon Power and Evergreen Solar (also listed in this report). Then on May 9, the Hill reported, "A natural-gas van company [VPG] awarded a $50 million Energy Department (DOE) loan has suspended operations and laid off roughly 100 workers, according to press accounts."

TROUBLED 
As of October 2012, updated May 2013 and July 2013
(with a full report in the works)
  1. AREVA* –– $2 billion via the 1703 to support the Eagle Rock Enrichment Facility (EREF) in Idaho Falls, ID, which was the focus of this report and includes up-to-date data.
  2. Georgia Power (Southern Company)* –– $8.33 billion via the 1703 for Plant Vogtle project, which was the focus of this report and includes up-to-date data.
  3. NRG Energy, Inc. (BrightSource)* –– $1.6 billion loan guarantee from the 1705 (for the Ivanpah Solar Project), which is supposed to "enable BrightSource Energy and its partners—NRG and Google — to build the world’s largest solar thermal facility in the Mojave Desert. Many times we exposed the fact that this shady DOE $1.6 billion loan was a bailout, and how it had been plagued with financial issues and problems, including putting endangered desert tortoises at risk of being murdered.
  4. First Solar* is tied to $3 billion in 1705 DOE loans: the Exelon (Antelope Valley Solar Ranch, the NextEra Energy Resources, LLC (Desert Sunlight), and the NRG Solar, LLC (Agua Caliente). First Solar was also the recipient of a very suspicious Export-Import bank transaction. We documented The First Solar Swindle last summer, their financial woes, as well as the three projects listed here. Some additional work was added this year and can be found in my "Bank of Obama" and "Left-wing Billionaire George Soros: Obama’s Agent of Green" posts. However, in all fairness, it seems that First Solar is doing better, and on May 6, 2013, CNN Money predicted "Brighter days for First Solar." So there is a probability that I'll remove First Solar from this problematic list, however, we'll take a peek at our $3 billion of taxpayer money –– these three projects and whatever other funding they received.
  5. NextEra Energy Resources, LLC (Genesis Solar)* –– an $852 million partial loan guarantee (from the 1705) to support the development of the Genesis Solar Project, a 250 MW parabolic trough concentrating solar power (CSP) plant. In October 2012, I had documented Genesis' environmental issues, and they have endured massive flood damage. This past April, it was reported that their mirror manufacturer, Flagbeg Solar (another taxpayer subsidized green energy company) went bust, which could have a negative impact on this project. However, clouds still hover over this and other California solar projects –– and that's according to my personal local newspaper, the Desert Sun. But we'll keep and eye on this one, because spokesman for the Genesis project stated in April, that it is just over 43 percent complete, and the "project will come online in two phases, half at the end of 2013 and the other half in late 2014."
  6. SunPower Corp.* / NRG Solar (California Valley Solar Ranch) –– $1.2 billion loan guarantee from the 1705. Since NRG bought the CA Valley Solar Ranch in San Luis Obispo from SunPower, this mess was already documented in my October report, however, the project itself has faced its own environmental issues –– as in the fact that they have taken over the home "to 34 endangered and threatened species, as well as designated core habitat for three animals: the blunt-nosed leopard lizard, San Joaquin kit fox and giant kangaroo rat." We'll dig further into this one and report back.
  7. Nissan, which in January 2010 received $1.45 billion loan from the ATVM program, and part was to retool its Smyrna, Tennessee manufacturing facility for assembly of the all-electric LEAF vehicle. On November 15, 2012, the Detroit News reported, "Nissan Motor CEO Carlos Ghosn finally admitted the automaker will not meet its sales target for its all-electric Leaf — in another sign of the broad struggle of the electric vehicle industry." But it as of May 2013, it seems the Leaf is, at least, doing better than the Chevy Volt –– GM's (the $49.5 billion bailout) electric car that is experiencing its own share of dangers (engine compartment fires) and financial woes.
During the course of my research I discovered, and Marita Noon and I have chronicled in complete detail, that 90 percent of the Energy Department's loans have meaningful political ties to President Obama and other high-ranking Democrats –– Senator Majority Leader Harry Reid to five alone, meaning that we have proven cronyism and corruption*.  Political buddies which primarily comprise of Obama's campaign backers, bundlers, top donors as well as liberal allies. Adding to the mix are those with access and influence that have financially benefited from the stimulus package and its $90 billion of taxpayer funds, which includes members of the president's former Job Council; those that helped craft the 2009 Recovery Act; and at least a dozen inside the Energy Department. Throw in powerful left-wing organizations and billionaires; high-powered lobbyists and special interest groups as well as Wall Street, Big Corporations, Big Energy, Big Wind, and Big Venture Capitalists, and you'll discover that the scope and size of this clean-energy scheme is MASSIVE.

Since April 2012, we’ve covered the majority of the "DOE's junk loans” that were steered to 26 projects, and we even tackled the ATVM program with its “Favored Five,” but we still have two more green-energy, crony-corruption stories to release from the 1705 Section:
  • Exelon (Antelope Valley Solar Ranch) –– Rating BBB- by Fitch; Sept 2011 for $646 million
  • Prologis (Project Amp) –– Rating BB by Fitch; Sept 2011, over $1.1 billion (or $1.4 billion)
Now, we can officially add Section 1703 of the DOE's Loan Guarantee Program to this massive and deceptive Green Corruption Scandal –– both the Eagle Rock Enrichment Facility and the Vogtle Project, of which their troubles have placed $10.33 billion of taxpayer money at risk, even as the Energy Department considers handing out billions more through the 1703 to favored, yet risky renewable energy projects.

Keep in mind that these two nuclear projects are in addition to the other five loan guarantees that are experiencing various difficulties documented in this post. Add in the three bankruptcies as well as the four that are about to go under, and that establishes that over 42 percent of the Energy Department's 33 projects ($34.4B) could ultimately be President Obama's new clean-energy failure statistic, and that's NOT factoring in other programs and agencies that have dished out billions of tax dollars to save the planet.

Disastrous!
NOTE: This post was published at The Green Corruption Files on Saturday, July 13, 2013, and in case you missed my June 30th FILE, "Nuclear Crimes and Misdemeanors": it's another huge piece of this scandal that was too lengthy to repost. Thanks, Christine. 

Two Women –– one Citizen & one Energy Columnist –– join forces on One Mission: to expose one chunk of the Green Corruption Scandal at a time.
Read more…

4063705832?profile=originalPresident Barack Obama's –– who promised to have, and claims to be, the most transparent administration in history –– “political appointees are using secret government email accounts to conduct official business,” The Associated Press found. This ranges across several government agencies, including the Health and Human Services Department (HHS), the Labor Department (DOL) as well as the Environmental Protection Agency (EPA).

 

Just after the release of this information, Kathleen Sebelius came under fire about her emails, of which the AP published as KGS2@hhs.gov with her public email address of Kathleen.Sebelius@hhs.gov. When confronted by Fox News about the report, Sebelius denied any secrecy, “There is no secret email account, there’s a public email and a private email, and they’re all FOIABle, they’re all available.”

 

As the denials pile up, the White House shifts the blame, citing it as a practice used by previous administrations. However, the scale and scope across the government and this administration remains a mystery, because transparency is nil: “Most federal agencies have failed to turn over lists of political appointees' email addresses, which the AP sought under the Freedom of Information Act (FOIA) more than three months ago,” noted Fox News. According to the AP report last week, they are waiting for at least ten agencies to respond, including the Environmental Protection Agency and the departments of Defense, Veterans Affairs, Transportation, Treasury, Justice, Housing and Urban Development, Homeland Security, Commerce and Agriculture, of which "all have said they are working on a response to the AP.”

 

Former EPA Head Lisa Jackson’s Alter Ego, the Fictitious “Richard Windsor,” Wins Awards

 

This is just the latest in a slew of government officials that we can confirm who have been using suspect email practices, which adds to the lack of transparency within the Obama White House. As you may recall Lisa Jackson, the former head of the EPA –– chosen by Obama in 2009 –– used an “alter ego” as her email account to conduct government business.

 

In the fall of 2012 the name “Richard Windsor” triggered an environmental alarm –– what POLITICO called “an inadvertent ruckus for an agency already under fire from conservatives.” It “spawned a host of accusatory news reports and questions from lawmakers, all of them implying that Jackson was trying to dodge congressional oversight and public records laws by using a private email account under a fake name.”

 

A fake person, whom by the way, the White House knew about since at least February 2010, and now we learn "he" won several EPA awards.  The National Review divulged, "Documents released by the agency in response to a Freedom of Information Act request reveal that, for three years, the EPA certified Windsor as a "scholar of ethical behavior." The agency also documented the nonexistent Windsor’s completion of training courses in the management of e-mail records, cyber-security awareness, and what appears to be a counter-terror initiative that urges federal employees to report suspicious activity."

 

Needless to say, refutation is the usual response by the Obama administration in any wrongdoing (whether alleged or factual), and in some cases selective amnesia is their method of deflection. In this case, the EPA claimed that Jackson’s public account, jackson.lisap@epa.gov, was inundated with “1.5 million emails in fiscal year 2012.” Adding to their justification, “EPA administrators have been assigned two official, government-issued email accounts: a public account and an internal account,” EPA said in a statement to POLITICO back in November 2012. “The email address for the public account is posted on EPA's website and is used by hundreds of thousands of Americans to send messages to the administrator. The internal account is an everyday, working email account of the administrator to communicate with staff and other government officials.”

In the midst of this heated environment, Ms. Jackson resigned in December 2012 (and now works for Apple), and by January it became clear that the EPA email scandal was worse than most had originally thought. Brietbart.com put it best, "We’re not talking about some alias to be used for personal correspondence but a totally false identity in whose name official business was allegedly conducted created specifically to avoid federal record-keeping and disclosure requirements. And none of this would ever have been uncovered were it not for the courage of a still anonymous whistleblower and the Competitive Enterprise Institute’s (CEI) Christopher Horner, an attorney with the legal smarts and experience needed to unravel it all."

 

As early as April 2012, the EPA Intel came to light by Mr. Horner, who is also the author of The Liberal War on Transparency, "research for which uncovered a climate of deceit and obstruction at EPA." Eventually it sparked congressional inquiries, an inspector general investigation as well as a federal court order for the EPA to turn over “the first installment of some 12,000 secret, previously undisclosed emails.”

 

In January 2013, the EPA provided emails all right, but none that included Jackson’s alias. The next two batches released in February and March of this year were no better, as one set was “heavily redacted” and the other turned out to be a partial document dump. NOTE: a very incriminating timeline regarding EPA's "Richard Windsor" Email Scandal can be found at CEI, yet here we are over a year later, and we're no more closer to the truth.

 

Jackson, a "friend" of former Green Jobs Czar Van Jones (both far-left radical environmentalists), promised “environmental justice” and referred to this government agency as “Obama’s EPA” –– an agency whereas the president gave the largest budget in EPA history at the tune of $10.5 billion taxpayer-dollars, as well as a tremendous amount of "ECO power," of which the EPA has abused.

 

Nevertheless, what’s key here is that Jackson's fictitious email wasn’t used for recipe swapping or recycling tips. From what I gather, "Richard Windsor was used to conduct official business with environmental pressure groups, other special interests, and top staffers." The Daily Caller News Foundation also reported, "the Windsor account had also been used to correspond with Secretary of Agriculture Tom Vilsack — who was using a secret account of his own — and outside environmental groups." Additionally, there was another EPA official who used a private email account to correspond with environmental groups in an attempt to "shield communications with environmental activists from public disclosure," documented The Daily Caller in January.

 

Evidence also emerged and was reported by Human Events in December 2012 which stated, “the existence of 12,000 emails (those court order ones) had either addressed to or authored by “'Richard Windsor'” included one of four key words submitted by Horner for a search –– coal, climate, endanger and MACT, a mercury rule expected to have a devastating impact on the coal industry and coal-fired electricity plants and raise rates for consumers."

 

Jackson was also in charge of other important issues like how to control so-called greenhouses gases, setting fuel standards for automobiles and approving an ethanol-based fuel. We also know that Jackson and the power allotted the EPA, (oops Obama's EPA), who is strongly aligned with President Obama's expensive and ongoing left-wing "climate change" agenda, was used to circumvent Congressional approval. For example, in 2009, the Obama administration was “unable to sell cap-and-trade as a job creator,” knowing that Americans see it as a job killer and a costly energy tax. So in December 2009, the Obama administration decided to go through the EPA to move their climate agenda via the Clean Air Act, ruling that “greenhouse gases threaten public health and the environment” and six key greenhouse gases were listed, including carbon dioxide (C02), opening the “regulation door” to carbon emissions from automobiles, power plants, and other sources.

 

EPA: Out with the “Richard Windsor” and in with "Obama's Green Quarterback," Holding the "Lack of Transparency" Football 

 

“Richard Windsor” may be off the team –– awards and all –– but as of late, Chris Horner has gone after EPA senior official, Gina McCarthy, who runs the EPA’s clean air division and in March was nominated by the president to replace outgoing chief Lisa Jackson. 

 

The charge: CEI filed a lawsuit that “alleges EPA has not provided the records or a substantive response to a late April Freedom of Information Act request, which covers dates McCarthy testified between 2009 and 2012.”

 

The Hill reported on this story at the end of May, of which the CEI alleged, “McCarthy regularly used text messaging as an alternative to email for work-related communications.” Not to mention McCarthy was apparently warned by a senior EPA official to “cease using that function on her PDA, due to concerns about the propriety of her texting about Members of Congress specifically on days when she testified before either the House or Senate.”

 

However, McCarthy, in April 2013 told Sen. David Vitter (R-La.), the top Republican on the Environment and Public Works Committee who was vetting her nomination, “I do not conduct business through personal email.” McCarthy is also on the record as stating that she doesn’t conduct business over instant messaging, either: “One good thing about being 58 is I don’t know how to use them,” McCarthy said. “I have never used an IM. I don’t know how.”

 

Widely known as Obama’s “green quarterback,” McCarthy hit some roadblocks on her way to head the EPA, including a boycott by senate Republican members of the Committee on Environment and Public Works, because she had refused to answer their questions about transparency in the agency. Needless to say, a week later (May 16) McCarthy was approved by the Senate committee, and as reported by the Washington Post, this was "after what Sen. David Vitter (R-La.) described as significant steps forward on transparency issues important to the GOP."

 

Is there confusion on texting vs. instant messages? Or maybe McCarthy has since learned how to IM. I don't know, but we'll keep tabs on this part of the EPA scandal, because as of this month, McCarthy's path forward to heading the EPA remains murky, as does the transparency within this agency and many others.

 

 

July 2012 House Oversight Hearing Revealed Shady Email Practices by Former DOE Loan Advisor Jonathan Silver

 

I'd love to compare notes with Chris Horner on the Green Corruption scandal, because according to Human Events, Horner also acknowledged that fourteen separate private email accounts helped solidify the Solyndra green energy deal that costs taxpayers over $500 million. The Solyndra Saga was just the beginning of President Obama's clean-energy failures (billions wasted) and crony capitalism run amok, of which I've been tracking for some time. I recently tallied 25 taxpayer-backed green energy firms that have gone bankrupt, and with an equal amount troubled.

 

Last summer I was one of the few that took issue with the fact that the former Department of Energy (DOE) Loan Advisor, Jonathan Silver, during his time at the DOE, participated in extremely shady email practices that included helping his “friends” get DOE loans, of which I discovered when viewing the July 18th Oversight hearing as well as chronicling the green corruption suspects since 2010.

 

A scandal that also comprises of internal DOE email correspondences (some from whistleblowers) going as far back as the passing of President Obama's 2009 trillion-dollar stimulus package, of which last fall we busted open the Energy Department's "Den of Deception," proving coercion, corruption, cronyism, and cover ups.

 

What astonished me was that Silver used his personal email account to “handle” DOE business, where he would forward emails from his DOE account to his personal email, and then respond from his personal email account. Now, Mr. Silver reasoned that it was out of “convenience,” however; this practice clearly violates the Federal Records Act of 1950 (at least the spirit of the law). Worse, these particular Obama appointees don't have an issue with lying to Congress while under oath, and have gone unpunished –– as is the case of Mr. Silver.

 

When questioned by Rep. Trey Gowdy (R-SC) at the July 18th hearing on how pervasive this practice was; Silver responded with, “Not terribly,” then followed, “I received tens of thousands of emails while I was in the program.” Congressman Gowdy then inquired about the percentage. Silver stated, “I don’t know the answer to that…”

 

During his testimony, Silver asserted that he had turned over all of his DOE correspondences (government documents), but as usual, it was only after the House Oversight Committee demanded them. During this hearing we also discover that the Obama administration had attempted to block their "legitimate discovery" in this particular case (as they stonewalled on most of the DOE inquiries led by the House Oversight). In fact the DOE specifically tried to prevent them from getting these documents, of which Oversight Chairman Darrell Issa's (R-CA) explained, "asking Mr. Silver’s attorney –– ordering him effectively –– to deliver the documents to them so they could limit and redact them, so they could decide what Congress was entitled to."

 

Obviously, the DOE was obstructing transparency, but still, this left me with many critical questions. Why did Silver handle DOE business in this fashion –– convenience or concealment? Is g-mail better than DOE e-mail? Did he forget his DOE password? I don’t know.

 

But what we do know is that this flies in the face of an administration that promised and promotes “unprecedented levels of transparency” and openness...

 

 

A day after the July 18th hearing, Chairman Issa appeared on Fox News, and summed up a few key points that he had sternly addressed during the hearing. When asked about Abound (another taxpayer-funded failure accompanied by its share of cronyism and corruption), here is what Issa had to say, “Thanks for covering yet another failed solar project –– one that again went outside the bounds and the rules for making the loan, and the American people are paying for it.”

 

Issa went on, “I think the most important thing that we saw was the discovery of Jonathan Silver and his various other Department of Energy employees deliberately producing an outside web of private emails in which they exchanged documents, strategized on how to get these loans approved, and so on…”

 

What do you think they are doing? Issa was asked

 

Issa’s answer, “I say it was pretty transparent, they’re being opaque…by circumventing these systems, they’re taking things out of what is statutorily required to be there…”

 

In closing...

Yep, the Obama administration is circumventing not only our Constitution, but evading government systems that were put into place to protect the American people against tyranny and enforce transparency while ensuring we have the proper mechanisms to keep our government accountable, which encompasses our elected officials, political appointees and their staff.

 

It's alarming the number of scandals plaguing the Obama White House, from Fast and Furious to Green Corruption (the DOE, DOI and EPA) to top officials engaging in shady email practices. Eventually we were faced with the Benghazi cover-up, the IRS political profiling, and the DOJ's chilling media meddling.

 

The most current and unprecedented controversy impacts every American, no matter what side of the political isle you're on, and our right to privacy. I'm referring the secret court order that allows the NSA to collect the metadata of Americans' phone calls for months at a time as well as operation PRISM –– justified by, yet goes beyond national security –– which began under President Bush in the wake of 9/11 and continued with the Obama administration.

 

However, Glenn Greenwald, a reporter for the British newspaper The Guardian and the one who broke "the biggest intelligence leak in the NSA's history," firmly warned that the Obama administration "has taken a warped and distorted view of the PATRIOT Act [now on steroids]," which I find horrifying, only to surmise that instead of a "war on terror," it has morphed into a "war on freedom."

 

While some of these scandals are deadly and disgraceful, others shed light on the political favoritism that runs across many government agencies, and now we search and find that many of these same agencies and others conduct government business in secret.

 

Worse, if it wasn't for watchdog groups like Chris Horner's, whistleblowers, a handful of media doing their job, Congressional oversight, and citizens speaking out, we wouldn't know about this raging "secret" email scandal running wild within the Obama administration. In fact we'd be in the dark about most of what our government is up to, which is a sad indictment of where we are as Country: a government that is too big, too expensive, and too intrusive, and as of late, has become too corrupt, abusive and secretive.

 

Even those on the Left had to cede, including President Obama's former campaign advisor, David Axelrod, whereas in an attempt to shield Obama from the IRS scandal had this to say, "How could Obama know what his underlings were doing when the government’s so big?"

 

While this statement makes the case for smaller government even bigger, more insightful words came out of Becky Gerritson's testimony before the House Ways and Means Committee, whose Tea Party group was one of those targeted by the IRS abuse, "...And I’m telling my government that you’ve forgotten your place...”

 

In fact our government has it all backwards: instead of punishing government officials and employees for their proven misdeeds, abuses, and crimes, they crucify brave whistleblowers. No matter what side is in power, "we the people" should raise up along side the Becky's of our nation, and remind our government that America was founded and formed "with a government of the people, by the people, for the people."

 

We must stand firm, and demand punishment for those that abuse their power, and ensure that unwarranted and illegal secrecy STOPS, because there is a reason people do things in secret –– they usually have something to hide, and you never know, tyranny may be "lurking just around the corner"...

 

Two Women (one citizen & one energy columnist) join forces on One Mission: to expose one chunk of this Green Corruption scandal at a time.

Read more…

4063694634?profile=originalSPECIAL NOTE: This was first published at Townhall.com as
"On Earth Day, Let's Waste More Money," and at the Heartland Institute on April 24, 2013, by Marita Noon –– my cohort in exposing President Obama's clean-energy dirt. However, considering additional taxpayer-funded green energy issues have emerged, I'll make be some adjustments as well as updates.

Following Ms. Noon's column I'll be amending our 2012 list of taxpayer-funded green energy failures, of which at that time I had documented 52 (23 bankrupt and 29 troubled) ––  at least $15 billion of green taxpayer money either gone or at risk. With additional research, by the summer of 2013, we may hit a new total of 60, marking the billions burned on Obama's green energy agenda as outrageous! 

                 Americans Bothered By the Way the Government Spends Taxes

Every year, April 15 is tax day, and that day has come and gone –– with most Americans feeling the sting. A while ago, the morning’s news shows featured last minute tax tips and other tax-related information. In case you missed the new poll that was discussed... When asked: “Thinking about paying taxes, which one of the following bothers you the most?” Surprisingly, “What you pay” received the lowest response, while the “Way the government spends taxes” was the highest. “Feeling that some don’t pay fair share” was near the top and “Complexity of system and forms” was near the bottom.” So people understand that it takes money to run the government and generally don’t object to paying their taxes. It is what the government does with that money that frustrates us.

When asked about the way government spends taxes, responders were likely thinking of the green-energy crony-corruption spending on flawed ventures like Solyndra and the, now, fifty-plus other green-energy embarrassments that received taxpayer dollars as a result of President Obama’s 2009 Stimulus Bill (as well as other green-energy funds) that poured nearly $100 billion into the pet projects of his donors.

Solyndra filed for bankruptcy in September 2011. It was just the bellwether; the first of many to come.

A year later Christine Lakatos and I profiled nearly 20 green-energy stimulus-funded companies that had gone bankrupt. The next week, we highlighted the other bookend: “companies/projects that received funding from various loan guarantee programs (LGP), grants, and tax incentives. These are projects that are still functioning, but are facing difficulties.” One of those troubled companies was A123 Systems. One week after our report, A123 filed for bankruptcy. Nearly two months later, A123 waspurchased by a large Chinese auto parts maker that has renamed the lithium-ion battery company B456.

Update: A123/B456’s biggest customer is another company on our troubled list: Fisker Automotive—manufacturer of the $100,000+ electric sports car made in Finland—is now facing bankruptcy itself after efforts to find a Chinese investor “stalled.” And we covered the April 24, 2013 Congressional Hearing: Failing Fisker Auto Finally Faces House Oversight Hearing: Chairman Jordan Exposes Another DOE Junk Loan, Declares, "Fisker should have never received taxpayer money”

Wait. In his 2008 campaign, didn’t Obama promise to “create five million new energy jobs over the next decade––jobs that pay well and can’t be outsourced”? But our taxpayer dollars created jobs in Finland and have benefited a Chinese company—Obamanomics outsourced. No wonder the “way the government spends taxes” tops the list. And most have no idea that the Obama administration is responsible for steering billions of our tax dollars from the stimulus and other clean energy programs to foreign-owned entities, of which big chunk was doled out in the form of free cash via the 1603 stimulus grant program.

But there’s more—new news the poll respondents probably didn’t even know about.

One day after the poll was taken, CNN Money reports: “China’s Suntech Power has put its largest subsidiary into bankruptcy.” What they don’t mention is that China’s Suntech Power benefited from Obama’s 2009 Stimulus Bill—receiving a $2.1 million credit from the Energy Department’s stimulus-funded Advanced Energy Manufacturing (48C) Tax Credit. (Suntech was included in our 2012 “troubled” list.) In her blog, The Green Corruption Files, Lakatos states: “according to the Heritage Foundation, in November 2012, Suntech shed some employees, claiming that it was the ‘U.S. International Trade Commission’s 35.95% tariff on Chinese solar panels that was partially responsible for the 50 impending layoffs at its Arizona production facilities.’” Suntech was even blamed for the Solyndra debacle. In December 2011, The Pittsburgh Tribune-Review reported: “China’s major solar panel companies—whose low-cost products led some American factories to close, helped create the Solyndra controversy, and spawned talk of a trade war—were bankrolled in the United States by the world’s largest investment banks.” Those “investment banks” include some the same ones we have profiled in our previous reports that have deep ties to the Obama campaign and administration, and many green-energy projects that received loans, grants, and special tax breaks representing billions in stimulus money.

Suntech has more interconnections. Arizona’s Mesquite Solar Project, which received $337 million in taxpayer money despite its non-investment grade rating by Fitch, was to be built with Suntech’s solar panels and the power was to be sold to Pacific Gas & Electric—which has strong political presence in Washington, DC, and connections to billions in stimulus funds. California’s PG&E, a company with “an extensive network of former high-ranking employees holding influential positions in government agencies at the federal and state level, has benefited handsomely from government financing of green energy projects.” The most controversial former PG&E employee to hold an influential government post is Cathy Zoi, a former energy analyst for the company, who we profiled in our report on George Soros.

There is much more that can be found in Lakatos' Suntech report.

Another sparsely reported solar-power embarrassment was covered by Fox News on the same day the aforementioned poll was taken. “SoloPower, which makes thin-film solar panels at a new plant in Portland, OR, opened September 27 with an upbeat ribbon-cutting ceremony. Local and state politicians gushed about the company eventually operating four production lines and creating 450 well-paid green jobs.” After its grand opening just months ago, SoloPower’s power is waning: “The first production line was never completed,” and “in January, the company had a round of layoffs.”

This is not a surprise to those of us who watch the green-energy crony-corruption scandal. SoloPower was one of the worst-rated loans. One month before it received a $197 million loan guarantee to “support the retrofit of an existing building to operate a thin-film solar panel manufacturing facility in Portland, OR,” Standard and Poors (S&P) gave SoloPower a credit rating of CCC+.

As uncovered and exposed by Lakatos on April 1st regarding SoloPower, the March 2012, U.S. House of Representatives Committee on Oversight and Government Reform released a report titled “The Department of Energy’s Disastrous Management of Loan Guarantee Programs” which states: “S&P predicted that SoloPower will fail to meet its debt obligations.” DOE emails, released on October 31, 2012, reveal that James McCrea, Senior Credit Advisor at the Loan Programs Office, called SoloPower “a completely uninspiring project.”

Yet, in addition to the $197 million of US taxpayer money SoloPower was given from the DOE through the 1705 LGP, this European firm also received $40 million from Oregon taxpayers. Then in December 2012, “despite unfulfilled job and production promises and signs the Portland solar panel factory was sliding even further behind,” Oregon officials tripled the “taxpayer’s stake,” said the OregonianBusiness Oregon approved a $20 million tax credit for SoloPower—which SoloPower then exchanged for $13.5 million in cash. After a management shake-up, Fox News reports, SoloPower is “trying to raise money by selling some of its equipment through a third party and is attempting to restructure its $197 million federal loan guarantee.”

Update: On April 22, the Oregonian’s headline read: “SoloPower moves to power down Portland factory, gut remaining workforce.”

With the bad credit rating, the “uninspiring” label, and poor performance, why did SoloPower receive federal, state, and city funding—ultimately paid by the taxpayers? Because as the Oversight Committee report states: “What SoloPower lacked in economic value, it made up for in political connections.”

Suntech and SoloPower are just two recent stories; part of a long list of bankrupt and/or “troubled” politically connected green-energy projects.

When President Obama released his FY2014 budget, it included new spending of nearly $1 billion “to support deployment and long-term development in the clean energy industries.” Renewable Energy World appears gleeful. “It’s been said before and it bears repeating that Obama has done more for solar than any previous US President.” And: “The support of the federal government has led to an explosion in the amount of solar across America.” Do you think?

In contrast, Tom Pyle, President of the American Energy Alliance, pointed out that the budget “represents the administration’s desire to double down on bad energy policy.” And, “calls for fast-track permitting for renewables” while never mentioning the Keystone pipeline. Pyle concludes his comments by saying: the President “hopes that the American people will forget the failures of the past four years, higher gasoline prices, skyrocketing electricity rates, bankrupt renewable firms, and billions in wasted taxpayer money on politically connected industries.”

No wonder the “way the government spends taxes” tops the list of taxpayer’s frustrations. Perhaps if “government’s inability to learn from its mistakes” had been on the list, it would have been the number one choice.



                                             OBAMA'S GREEN ENERGY BANKRUPTCIES
                                                               as of May 2013 

Our 2012 Green Alert: taxpayer-funded green energy failures list placed the total at 52 –– 23 bankrupt and 29 troubled, with at least $15 billion of "green" taxpayer money either gone or at risk.
Today I will only be updating our green energy taxpayer-backed bankrupt list, and over the summer I'll be evaluating the 29 projects or firms, which I had documented as having issues: financial, project delays, environmental, corruption probes, and otherwise. This will ensure that we give an honest assessment, tally and dollar amount. But at this point in time, while I can remove a few –– some into the bankrupt column, others are doing worse, and some are doing better –– there are more to add.

We can now remove Suntech out of the troubled category and place them in our bankrupt list. Meanwhile we can't officially add SoloPower and Fisker to our bankrupt list, but we've moved them to our new category: "On the Verge of Going Bust and Bailouts," which includes taxpayer-funded companies that were financially struggling to stay alive, and eventually got "bailed out" (the majority by foreign companies).
Then there is the story of how "America's most storied Fortune 500 corporation, Honeywell, "created a mere 10 jobs with a $25 million grant (to be used by Honeywell's UOP subsidiary to build a biofuels technology demonstration plant in Oahu, Hawaii) under President Obama's economic stimulus program in 2010" –– a cost of $2.5 million per job. And why is the DOE "withholding records on a Wyoming carbon-capture project that snagged almost $10 million in economic stimulus grants from the DOE?" It's undergoing a legal investigation.

Additionally, we can give more data on my list of taxpayer-backed green energy companies that were in distress. One in particular is Bloom Energy, which I had reported received $5 million in taxpayer money, but it was more like $70 million in federal grants and $200 million in funding from the state of California. It turns out that in February of this year, they were "fined for illegally paying employees in pesos."


While GM's Chevy Volt, "the poster child for President Obama's push to electrify America's auto fleet," is still suffering from a poor performance, there is a more positive case to share. This past February, Telsa Motors made an encouraging announcement at an event, "Tesla will pay off our Department of Energy (DOE) loan five years early, twice as fast as required by the original 2010 loan agreement signed by Tesla and the DOE."

This came despite reports that have painted a different scenario and grim future for Telsa. In October 10, 2012: The DOE restructured its loan to Tesla and in December 20, 2012, Market Watch reported, "Tesla will need more loans to stay afloat in 2013." As of late, Forbes noted another key issue; "The problem with putting $465 million of taxpayer money at risk to back Tesla is that producing this particular toy for the rich does absolutely nothing to further the ostensible goals of the program, which are fighting climate change and achieving energy security."

We'll give Telsa the luxury of removing them from our troubled category, but they'll stay on our radar –– after all this is Steve Westly's investment, the Energy Department's buddy, and Obama's "Green bundler with the golden touch." So it shouldn't be too difficult to track.

Our new numbers as of May of 2013 reflect 25 bankrupt, three about to go under, and if we keep those that are having issues the same (at 29), then by the time I complete my new investigative report, the latest taxpayer-funded green energy failure list could hit 60 –– with almost half bust.

What a difference six months makes...

If you are one of those Americans "bothered" by the way our government spends your taxes, then you may want continue reading this post. You'll be able to view the documented details of President Obama's billions in green energy failures, which includes more bankruptcies, billions going overseas, the green jobs gimmicks and expense, plus much more –– visit the Green Corruption Files.
Read more…

A jaw-dropping revelation came to light in December 2011 by the Trib Total Media, yet it was ignored by the media and even missed by those of us watching the solar world unfold. 4063686434?profile=original

China's major solar panel companies — whose low-cost products led some American factories to close, helped create the Solyndra controversy and spawned talk of a trade war — were bankrolled in the United States by the world's largest investment banks.
Goldman Sachs, Morgan Stanley, Citigroup, Lehman Brothers, Merrill Lynch, USB Investment Bank and others raised $6.5 billion for seven young Chinese solar panel makers in the mid-2000s by underwriting their securities on the New York Stock Exchange and Nasdaq, a Tribune-Review investigation has found.

 

The Trib goes on, "It's not clear how the idea of using offshore tax havens to get listed on U.S. exchanges developed. But the Trib learned through SEC reports how Chinese solar companies grabbed onto the idea." The first was Suntech Power Holdings Co. Ltd., now the world's largest solar company. It began operating as a Chinese company in May 2002, and by 2004 reported sales of $85.3 million..."

 

However, Bloomberg News reported last week, "Suntech Power Holdings Co. (STP) [was] forced to put its Chinese solar unit into bankruptcy last month, "becoming the latest casualty of a painful slump in the global solar industry,” wrote Townhall.com. But Bloomberg noted that Suntech "began that slide into insolvency in 2009 when customers linked to the founder couldn’t pay their bills and the company booked the sales as revenue anyway, regulatory filings show."

 

What most don’t know is that Suntech is a tiny fraction of "Obamanomics Outsourced," whereas his administration is responsible for steering billions in stimulus funds (and other "green" money) to foreign companies and shipping green jobs overseas. This is clearly a broken 2008 energy campaign promise, but worse, a violation on how the 2009 trillion-dollar stimulus package was sold –– to create jobs and grow the economy here in America.

And I will invest $15 billion a year in renewable sources of energy to create five million new energy jobs over the next decade –– jobs that pay well and can't be outsourced; jobs building solar panels and wind turbines and a new electricity grid; jobs that will help us eliminate the oil we import from the Middle East in ten years and help save the planet in the bargain. That's how America can lead again.

Senator Barack Obama, October 27, 2008

 

Oh NO, he didn't...

 

Last fall, Marita Noon (energy columnist at Townhall.com and my cohort in unearthing the massive amount of clean-energy dirt) and I debunked the president's 5 million energy jobs target as well as the his administration’s labor department's ludicrous claims on what constitutes a green job –– from oil lobbyists, to bus drivers, to garbage men, and so on.

 

Furthermore, if you've been following my blog (now the Green Corruption Files), you know that since 2009 I've been tracking President Obama's trillion-dollar stimulus spending spree, of which at least $90 billion was earmarked for renewable energy and energy efficiency, and doled out through various programs and agencies.

 

For a year now I've been covering the Department of Energy's (DOE) Loan Program, more specifically the stimulus-created 1705, whereas over $16 billion of taxpayer money was used to fund 26 alternative energy projects; of which 23 were junk rated –– as revealed by the Committee on Oversight and Government Reform in March 2012.

 

The DOE’s "junk bond" portfolio (the entire $34.4 billion loan guarantee program for that matter) is where you’ll discover that 96 percent of the firms representing these projects have meaningful ties (bundlers and donors) to President Obama and other high-ranking Democrats; or both –– with five to Senator Harry Reid alone.

 


The Mesquite Solar Project and the $337 Million DOE "Junk" Loan 

 

Over a week ago, I submitted an update, noting that we've covered all but three out of the 26 DOE "junk bond" portfolio, which included the Mesquite Solar project. What's interesting is that this was the ONLY DOE excessively risky loan that I could not locate a direct connection to the Obama White House or any "green crony."

 

But once again, we find that despite the fact that the Mesquite Solar I, LLC (Sempra Mesquite) project received a non-investment grade rating by Fitch in August 2011, our Energy Department went ahead and awarded them a $337 million loan guarantee for a solar power plant in Arizona that is scheduled to be up sometime in 2013, which projects that it would create more than 300 construction job and 7 operating jobs.

 

Hold up…

 

Let's go back to early 2010 when Suntech had been awarded a $2.1 million credit from the Energy Department’s stimulus-funded Advanced Energy Manufacturing (48C) Tax Credit, and according to the Heritage Foundation, in November 2012 Suntech shed some employees, claiming that it was the "U.S. International Trade Commission’s 35.95% tariff on Chinese solar panels was partially responsible for the 50 impending layoffs at its Arizona production facilities" –– thus Suntech ended up on my 2012 Green-Energy Failure Alert List, in the troubled category.

 

But a year before Suntech's troubles were made public (remember their slide into insolvency began in 2009), and in the midst of the September 2011 solar hoopla, Bloomberg News reported that the Mesquite project (with $337 million of taxpayer money), would be purchasing its solar panels from the China-based Suntech Power Holdings Co. Also, Sempra Energy, California’s third-largest utility (a Fortune 500 energy services holding company with 2012 revenues of approximately $10 billion), will sell electricity from the Mesquite Solar 1 plant to California’s largest utility, PG&E Corp., under a 20-year contract –– adding two more to our list of BIG ENERGY (General Electric, NextEra Energy and NRG Energy) that are making big money at the "green" Bank of Obama.

 

Pacific Gas & Electric Packed with Green Cronies and Invested Interest in $7.7 Billion of Stimulus Funds 

 

PG&E maintains a strong political presence in Washington, D.C., and is actively involved in California politics as well.  We’ve already highlighted their Democratic "cronyism footprint," of which much of it was exposed by the Washington Free Beacon last March: “Pacific Gas & Cronyism: Politically connected utility plays corporate bully, makes bank on green energy...”

 

It turns out that "former PG&E employees currently hold, or previously held, high-ranking government positions at the state and federal level, furthering the company’s influence," of which we know that Peter Darbee, then-CEO and chairman of PG&E, wasn't shy about using his leverage with President Obama on at least the $1.6 billion BrightSource Energy DOE deal.

 

The most controversial former PG&E employee to hold an influential government post is Cathy Zoi, a former energy analyst for the company, who also served as chief of staff for environmental policy under President Clinton and was CEO of Gore’s Alliance for Climate Protection. Zoi was the former Assistant Secretary for Energy Efficiency, and oversaw the disbursement of more than $30 billion in green-energy stimulus funds in her DOE position at the Office of Energy Efficiency and Renewable Energy (EERE) –– a post which began in April 2009, and later she briefly filled the role of Acting Undersecretary for Energy.

 

We've already labeled Zoi as one of the “DOE dirty dozen" –– those inside the Energy Department with ties to tens of billions of clean-energy stimulus funds. However, in March 2011, Zoi jumped the DOE ship to work for left-wing billionaire George Soros, Obama’s "Agent of Green," whom just last month I chronicled his dark money and how he has bankrolled Obama victories since 2004After discovering Soros' part in crafting the 2009-Recovery Act and his early 2009 series of regular private meetings and consultations with White House senior advisors, as usual, I followed the money.

 

Soros' suspicious 2009-first quarter stock-buying spree was a huge winner –– a big portion (that we know of) benefited from the federal stimulus, including twelve alternative energy and utility companies. Add in more Soros clean-energy investments, and I concluded that his "green tab" exceeds $11 BILLION of stimulus (taxpayer) money, with the entire Cathy Zoi Green Corruption story still left to tell.

 

PG&E may have gotten the "cold shoulder" on the their smart-grid grant requests, but with their high-powered connections all the way up to the president and inside the DOE, PG&E won a significant amount of stimulus money: at least seventeen transactions to date and over $55.4 million. Better yet, PG&E has an invested interest in "six solar projects that will sell power to PG&E, which have received a combined $5.5 billion in taxpayer-backed DOE loans," as exposed by the Washington Free Beacon, however, I found $7.7 billion.

 

#1. Agua Caliente Solar Power Project located in Yuma, Arizona, of which "PG&E will purchase the project’s power and deliver it to customers in California." Project by NRG Solar: $967 million loan guarantee

 

#2.  BrightSource Energy development located in Baker, CA, of which "electricity from the project will be sold under long-term power purchase agreements with Pacific Gas & Electric and Southern California Edison Company (SCE)." Project by NRG Energy, Inc. (BrightSource): $1.6 billion loan guarantee

 

#3. California Valley Solar Ranch of which the 250-megawatt is under construction in eastern San Luis Obispo County, and "is generating clean, reliable solar power for transmission over PG&E’s utility grid." Project by NRG Solar and SunPower is still involved: $1.237 billion loan guarantee

 

#4. Desert Sunlight Project located in Riverside, CA, with the PPA (purchase power agreement) listed as Southern California Edison and PG&E. This is a First Solar Project that is co-owned by NextEra Energy Resources, GE Energy Financial Services, and Sumitomo Corporation of America: partial guarantee of $1.46 billion

 

#5. Genesis Solar Energy Project located in Riverside County, CA of which "power from the project will be sold to Pacific Gas and Electric Company." Project by NextEra Energy Resources, LLC: partial guarantee of $852 million loan

 

#6. Mesquite Solar 1, LLC located in Maricopa County, AZ, of which Bloomberg News had reported at the time the DOE loan was approved, "Sempra will sell electricity from the Mesquite Solar 1 plant to California’s largest utility, PG&E Corp., under a 20- year contract." Project by Sempra Mesquite: $337 million loan guarantee

 

#7. Mojave Solar located in San Bernardino County, CA, of which at the time of the DOE loan approval (September 2011), "Abengoa signed a power-purchase agreement with PG&E to buy the energy produced by the project for a period of 25 years." Project by the Spanish firm Abengoa Solar, Inc.: $1.2 billion loan guarantee

 

Suntech, Bankrolled by Early Goldman Sachs and other Big U.S. Banks

As revealed in the beginning of this story, Goldman Sachs and other Big Banks here in the United States bankrolled Suntech, and this year in my January post on Kleiner Perkins (John Doerr and Al Gore), I highlighted some of Goldman Sachs' "green."

 

But old information came to light by the Trib Total Media, leading to more "Wall Street Solar" corruption: "Goldman Sachs (Asia) was with Suntech all along. A branch of the investment bank bought 10.8 million shares of Suntech BVI for $2.31 a share. When Suntech switched to the Cayman Islands to go public, Goldman Sachs (Asia) followed, grabbing an 8.66 percent ownership share of the solar company."

 

In 2010, along with old PDF file (April 2011) of Goldman Sachs Environmental Markets (link no longer valid), I had alerted to the fact that Goldman Sachs was cashing in on the "green" stimulus, and as my research developed, I found their DNA all over this green-energy scheme.

 

Then in 2012, I dug deeper I chronicled the Kleiner Perkins and Goldman Sachs connections as well as various renewable energy stimulus winners including, "The First Solar Three Billion Dollar Swindle," which involves three of the DOE's junk loans.

 

Besides their investment in First Solar, Goldman Sachs received two large loans from the 1705 DOE "junk bond" portfolio: Cogentrix of Alamosa, LLC for $90.6 million and U.S. Geothermal, Inc for $97 million –– the former a subsidiary of Goldman Sachs.

 

While U.S. Geothermal snagged millions more in green subsidies, through the Cogentrix transaction, Goldman Sachs cashed in every step of the way –– and their "green cronies" too. This was a striking detail that I found when reviewing the June 19, 2012 House Oversight Hearing, where the CEO of Cogentrix Mr. Robert Mancini testified.

 

Even without extensive research, we find that Goldman Sachs is tied to many other clean-energy projects that received loans, grants and special tax breaks from the Obama administration, and what I've tracked so far are billions of stimulus money that go beyond the four listed above. They are also credited as the “exclusive financial adviser” for the highly publicized bankrupt Solyndra, and in 2010, handled the IPO of both Tesla Motors and Amyris. Other than Solyndra, we find more Goldman stimulus winners that have gone bust: SpectraWatt, Nordic WindPower, and now we place Suntech into the bankrupt category –– all taking millions of taxpayer money down the drain.

 

Also, with a quick glance at that PDF file, there are many more, of which you can find more details in my January post, and all but two (Cogentrix and U.S. Geothermal) that I've personally tracked are on my 2012 Green-Energy Failure Alert List.

 

But it seems, that Goldmanites are not done, and in May 2012, they announced their plan "to channel investments totaling $40 billion over the next decade into renewable energy projects, an area the investment bank called one of the biggest profit opportunities since its economists got excited about emerging markets in 2001," wrote Reuters. This mean that Goldman Sachs will be pursuing more government aid, and they have a "friend" in the White House that is willing to oblige...

 

Despite, the rhetoric and deception, President Obama has his fair share of "Wall Street Buddies," which gave him $16 million for his successful 2008 campaign and dished out more in 2012.

 

We've already established that Goldman Sachs was a top Obama donor (#2 as a matter of fact), giving more than $1 million dollars to his 2008 campaign coffers. Also, two Goldman executives sat on Obama's 2008 Finance Committee, Bruce Heyman and David Heller, while Jennifer Scully and Bruce Heyman were 2008 bundlers.

 

Even though Goldman Sachs turned "red in 2012," supporting Mitt Romney, Goldman employees participated as top donors for President Obama's re-election, and Heyman bundled for Obama again in 2012.

 

Moreover, according to Open Secrets, "47 out of 51 Goldman Sachs lobbyists in 2012 have previously held government jobs." And now find that the infiltration of Goldman Sachs and Citigroup executives inside the Obama administration is extraordinary, even shaping his economic policy, however, more amazing is their footprint inside green energy and the tens of billions of taxpayer money that followed.

 

And “the "Too-Big-to-Fail" Citigroup –– the nation's third-largest bank that snagged the largest amount of federal bailout money, was the #7 top donor to candidate Obama with a few executives lined up as campaign bundlers, and Cit's massive 'Green' Money Machine is even too big to list here, but I unleashed it this past February, which tie them to approximately $16 billion of clean-energy money paid for by the taxpayers.

 

 

Sempra: More Solar, More Taxpayer Money 

 

As mentioned, the Mesquite solar project is owned by Sempra Energy of San Diego, a Fortune 500 Company, and one the “big-three" utility companies in California, and in 2011, I had noticed Sempra Generation, a subsidiary of Sempra Energy, of which their "Energy Solutions" have projects in solar, wind and natural gas.

 

Other than the Mesquite Solar Project and its $337 million DOE loan, in December 2010, Sempra announced the completed construction on the largest photovoltaic solar power plant in the U.S. called the Copper Mountain Solar facility, located in Boulder City, Nevada, of which the usual Green Corruption culprits are involved: PG&E and First Solar.

 

Delen Goldberg of the Las Vegas Sun had this to say in April 2011, "The federal government gave Sempra Generation about $42 million in tax credits, 30 percent of the price tag for Copper Mountain," which cost $141 million –– and the stats at that time on Copper Mountain were as follows:

  • Temporary construction jobs created: 350. Not bad.
  • Nevadans employed: 262. That’s a good share.
  • Solar power coming to Nevada: 0. Zip.
  • Parts manufactured in Nevada: 0. Zilch.
  • Permanent jobs created: 5. That’s not a typo.
  • State incentives developer Sempra Generation received: $12 million. That’s not a typo, either.

About a year later (March 21, 2012 to be exact), President Obama made a special visit using Copper Mountain as "an impressive backdrop" –– now at 10 jobs –– to celebrate his green energy efforts, whereas even Reuters had to cede that "the millions of green jobs Obama promised have been slow to sprout, disappointing many who had hoped that the $90 billion earmarked for clean-energy efforts in the recession-fighting federal stimulus package would ease unemployment –– still above 8 percent in March" –– not much better now at 7.7 percent, yet as I predicted, the president is demanding new "green" spending.

 

Sempra in Cahoots with BP, another Top Obama Donor: Where We Find More "Green" Taxpayer Money 

 

Now, "formerly known as entities Sempra Generation, Sempra LNG and Sempra Pipelines & Storage have now been realigned under Sempra International." But after a few hours of digging in 2011, I found that Sempra is in cahoots with British Petroleum (BP) on a number of green ventures, more specifically, all five of their wind projects, and of course the majority are using GE wind turbines, another Big Energy White House buddy, making bank off of "green” stimulus money.

 

Like the entire Big Wind industry, BP subsidiary BP Wind Energy took advantage of the then expiring "provision that had previously been extended by President Obama’s politically unpopular 2009 stimulus" (AKA the 1603 Grant Program), reported the Los Angeles Times in early October 2011. This was for the Flat Ridge 2 Wind Farm, located in a wind-rich region near Wichita, Kansas, and is a joint venture of Sempra U.S. Gas & Power and BP Wind Energy, of which Sempra says, "The 419-megawatt (MW) project will be the largest wind farm in the state of Kansas when complete."

 

As you probably know, Congress’ January “Fiscal Cliff” bill renewed the PTC for 2013, and tweaked it so that money would be available to any project breaking ground by the end of the year. And to give you an idea on how BP will make out on the Kansas project alone, "Each of BP’s turbines will receive a 2.2 cent tax credit for every kilowatt-hour generated during the first 10 years of operation –– about $1 million per turbine –– adding up to $274 million for BP," recorded the Reactor.

 

Just last week, Big Wind got an early Christmas present: "The Internal Revenue Service adjusted the Wind Production Tax Credit for inflation — an increase that will cost taxpayers $545 million dollars, according to the Institute for Energy," reported the Daily Caller.

 

Hold up...

 

Ironically April has been a very energetic month so far, because also last week more wind blew up the airwaves. With quite the "wind portfolio" (16 wind farms across nine states), BP is abandoning wind –– a story Marita Noon covered in her Sunday column at Townhall.com.

On April 3, BP announced that it was selling its US wind assets — estimated to be worth $1.5 to 3.1 billion. The announcement stated that BP has decided sell the US wind energy business “as a part of our continuing effort to … re-position the company for sustainable growth” and that it would “unlock more value for shareholders.” 

Surprised?

 

Apparently, speculation has been surfacing that BP "is slowly losing faith in the renewable energy sector," and according to the Christian Science Monitor, "[BP] exited the wind sector in Europe, and then near the end of last year announced that it would also sell its solar business." Yet, the motivating factors behind this BP move are "part of a continuing effort to become a more focused on oil and gas, and in part, "by the company's need to sell about $38bn of assets to help finance the costs of the Gulf of Mexico oil spill in 2010."

 

 

Climate Change Radical,  Big Oil Investor, Obama Bundler and Billionaire Buddy, Tom Steyer


Still, BP's renewable energy ventures won plenty of green-government subsidies from the Obama administration, and they have an advocate close to the White House, "Climate  Change Radical" Tom Steyer, of which last September I took notice and wrote a blog entitled, Obama’s Green Cronies Made DNC Cameo: Beneficiaries of Billions of Taxpayer Money," highlighting Obama bundler and billionaire buddy, Tom Steyer.

 

As divulged by the Washington Free Beacon in September 2012, "Steyer is reportedly one of the backers of Greener Capital, which invests in alternative fuel companies that benefit from the anti-oil policies of the Obama administration. Steyer is also the founder and senior managing partner of Farallon Capital Management, a $20 billion hedge fund that ranks as one of the largest of its kind in the world," and they stand "to profit from government policies that increase consumption of natural gas."

 

The Beacon goes on to give more interesting tidbits about Steyer being a Goldman Sachs protégé of Robert Rubin, but what caught my attention was this: "a successful investor, Steyer knows to hedge his bets. His fund owns millions of dollars worth of shares in Big Oil companies such as BP [970,000 shares as of the end of 2013]."

 

Hold up...

 

Did I mention that Mr. Steyer retired from Farallon Capital Management at the end of 2012, and according to Forbes, "sold his stake in the hedge fund firm to his partners?" And did you know that Steyer is also anti-keystone? So much so that early this month Politico reported, "The former hedge fund trader-turned-philanthropist is bankrolling a far-flung political operation pushing environmental causes and candidates, including his pricey effort to torpedo the Keystone XL oil pipeline."

 

OK, so we have a ferocious "greenie" that invested in Big Oil, and besides BP, "among the oil and gas companies that Steyer and Farallon financed and got rich from were Energy Partners, Ltd., Link Energy LLC, Halcon Resources Corporation, Devx Energy, Inc., and a gold mining company named Global Gold Corporation," recently recorded by Darwin Bond-Graham at CounterPunch.org.

 

This reminds me of a vegan –– and activist against meat eaters –– who gains their wealth by investing in slaughterhouses. Too graphic, but definitely we see a hypocrite here, and possibly now Captain Planet meets Robin Hood.

 

Steyer's firm may only be a BP shareholder, but they have plenty of "green" that stand to benefit from Obama's radical and expensive climate change agenda, and already have. Besides Steyer's money raising efforts, he has "considerable influence in the White House," as pointed out by the Washington Post. From Steyer's wealth and political connections that have "played a critical behind-the-scenes role in helping shape the country’s national energy policy” to the fact that "he has spoken with President Obama about how to pursue climate and energy policy in a second term." Steyer was even considered as a replacement to outgoing Secretary of Energy Steven Chu.

 

Mr. Steyer also has strong and expensive connections to the left-wing think tank Center for American Progress (CAP), who is closely aligned with Obama and has taken over key White House positions. CAP is heavily engaged in this green-energy scheme, and they have been on my radar since 2010, which I've mentioned in several of my Green Corruption files –– most recently in my post: Left-wing Billionaire George Soros: Obama’s "Agent of Green," however, the entire CAP Green Corruption piece of this scandal has yet to be exposed.

 

In the meantime, Steyer's bundling bucks never ended, and even though Obama won a second term, this month Steyer hosted a high-dollar fundraiser for our "Campaigner in Chief," even defending the president's efforts to save our planet.

 

Moreover, despite President Obama's anti-oil and gas rhetoric, he doesn't seem to mind taking their cash. Because according to Politico in 2010, Obama was the biggest recipient of BP donations over the past twenty years.

 

Obviously, BP has invested big in clean energy, and it is not limited to their wind projects with Sempra. BP Alternative Energy has other projects and companies in their portfolio that have raked in tons of stimulus funds –– at lease six that I know of.

 

GMZ Energy that received $8 million from the DOE's Vehicle Technologies Program funded by the 2009-Stimulus, and $11 million from the DOE and DARPA. But the big catch was BrightSource Energy, of which BP is an investor, and we've shed light on BrightSources' $1.6 billion shady deal quite a few times, including my recent "George Soros post" with much more dirt to share in the near future. [#1 and 2]

 

Still, as exposed by California Watchdog in August 2010, "The federal government is giving a joint venture involving oil giant BP millions of dollars in stimulus money to build a power plant on farmland near the tiny Kern County town of Tupman."[#3]

 

BP is also "benefiting from a $308 million federal grant over several years for the cutting-edge power plant on cotton and alfalfa fields seven miles from the western edge of Bakersfield. More than half of the money, $175 million, is coming from stimulus funds. The rest is coming from another federal program." Apparently, the DOE gave this grant in 2009 to Hydrogen Energy California, a joint partnership of BP and the multinational mining firm Rio Tinto –– a project considered by the Right as a waste of taxpayer money, with mixed reviews by environmentalists. [#4]

 

The Goshen North Wind Farm is a 50:50 joint venture between BP Wind Energy and Ridgeline Energy, LLC. BP Wind Energy is operator with a site location approximately an 11,000-acre site located some 10 miles east of Idaho Falls, Idaho. It seems that this Idaho wind farm listed as Goshen Phase II LLC on March 17, 2011 snagged 78,055,029 1603 cash grant [docket #2641]. [#5]

 

BP Solar unit of BP PLC (based in London) received $11.7 million in 48C credits, despite the fact that this project is creating jobs overseas, aligning them to others greenies that are outsourcing so called green jobs –– promoting more "Obamanomics Outsourced." [#6]

 

Obamanomics Outsourcing More Green

 

Now, Sempra may have chosen Suntech, the Chinese solar producer as their contractor, and we can't directly blame the president, however, Suntech is just the tip of the iceberg when it comes to Obamanomics Outsourced...

 

Back in February, we said good-by to President Obama’s Jobs Council –– a panel full of "deep-pocket Democratic donors and high-profile financiers" of Obama’s 2008 and 2012 campaigns, noted ABC News in 2011. Meanwhile several were Obama campaign bundlers and it included its share of union representatives like AFL-CIO’s left-wing "elitist" Richard Trumka.

 

I’ve already unraveled the series "Spreading the Wealth to Obama's Ultra-Rich Jobs Council," exposing the five panel members that have raked in tens of billions of “green” funds (directly and indirectly), the majority coming from the 2009-Recovery Act. More insulting is the fact that this fired Jobs Council is "packed with outsourcing companies."

 

Also, as emphasized in my Big Wind Story "A Hurricane of Carnage, Cronyism and Corruption," the Energy and Commerce Committee “in-depth report on its ongoing investigation into the implementation of President Obama’s green-energy stimulus spending,” states that as of December 5, 2012, nearly $16 billion in federal funds has been awarded under the 1603 Grant Program –– which does not factor in regional or state funding –– “approximately $10.8 billion (68%) of the total amount in Section 1603 grants awarded was for wind and another $3.8 billion (24%) was for solar projects.”

 

Nevertheless, the most shocking aspect is that "despite skyrocketing debt, and the "Obama green and recovery promises," the committee found that approximately one out of every four dollars of $16 billion spent on “Section 1603” Renewable Energy Stimulus Program" went to foreign-owned entities.

Just this week we find out that despite the sequester, the DOE awarded "more than $1.2 billion in cash payments to renewable energy projects by the Department of Energy and the Treasury" –– more free money through the 1603 grant program. However, the expensive 1603 program is not the only place where we find that the Obama administration has been outsourcing clean-energy stimulus funds, energy money, and green jobs.

 

NOTE: This list is compliments of the GOP, created sometime in July 2012, and reflects duplications of the foreign entity owned wind projects that I just outlined above, however it looks like they missed British Petroleum (BP). I also took the liberty of placing the list alphabetical order, and made some additions and updates for those transactions that are familiar to my research*.

 

In keeping with my green energy topic, non-renewable energy outsourcing transactions have been deleted.

 

Hold up...

GOP, what's up with ALL THE CAPS?


China:

STIMULUS FUNDS

North Carolina-Based LED Maker Cree Inc. Received Over $39 Million Through The Stimulus And Later Opened Its First Plant In China. Over Half Of The Company's Employees Are Now Located In China And Cree's CEO Says The Company's Strategy Is "Cree Chip, China Heart."

 

LOAN GUARANTEES

Sempra Received A $337 Million Loan Guarantee For An Arizona Solar Plant. The Solar Panels Will Be Supplied By SunTech, A Chinese Solar Panel Manufacturer.

 

JOBS COUNCIL

  • General Electric Cancelled An Order From Wind Turbine Manufacturer ATI Casting In Order To Get The Parts Cheaper From China. After ATI Offered To Match The Price, GE Still Refused The Order. ATI Was Forced To Layoff 302 Workers Due To The Move.
  • General Electric Has Also Been Criticized For Using Chinese Made Wind Towers Over American Towers At The Stimulus Funded Shepherds Flat Wind Farm In Oregon.

STIMULUS FUNDS

Solar Power Industries Received A $5.4 Million Stimulus Grant Before Laying Off American Workers Based On An Increased Reliance On Imports From China.

 

STIMULUS GRANTS*

A123 Systems received $390 million, of which $249 million of it was a Recovery Act Grant, and filed for bankruptcy October 16, 2012. In January of this year, China's Wanxiang Group Corp. won U.S. government approval and acquired A123 Systems Inc. for a $256.6 million bid.

 

Smith Electric Vehicles –– another Obama touted green investment –– received $32 million in federal grants from the stimulus package. However, since 2009 they have "racked up $128 million in losses," and in February 2011, Smith Electric Vehicles announced a potential partnership (signed a letter of intent) with Wanxiang Group, one of the largest non-government owned companies in China that was on a "green USA buying spree." Then in September 2012, struggling, and "short on cash," Smith Electric scrapped its IPO to “pursue private financing opportunities.” Not sure if they are China-owned yet, but the USA is.

 

CLEAN ENERGY TAX CREDITS*

MiaSolé received two Advanced Energy Manufacturing tax credits totaling $101.8 million from the Obama Administration in January 2010, see my Summer 2010 report on Kleiner Perkins, yet it also a VantagePoint investment. In October 2012, "struggling" and "desperate" MiaSole agreed to be sold to China's Hanergy Holding Group for $30 Million, which is considered to be dirt cheap.

 

Recently, the Washington Free Beacon added more outsourcing to this story, which is coming from another taxpayer-funded program that not only hands out tons of "green loans" but also instigates more corporate welfare and crony capitalism.

 

"The U.S. Export-Import Bank (Ex-Im) is financing the purchase of solar panels from a manufacturer now owned by the Chinese that had previously attracted investments from prominent Democrats..." "Ex-Im approved a loan to an Indian developer who wants to buy solar panels from MiaSolé, a California-based solar panel manufacturer. A bank spokesman said the loan amount has not been issued yet, as the financing terms are still under negotiation."

 

Denmark:

STIMULUS GRANTS*

Subsidiaries of Danish wind mill maker Vestas received $51.6 million in stimulus grants to build U.S. based factories, and they have announced plans to layoff 180 U.S. workers and possibly another 1,600 by the end of the tear. Well, it seems Vestas kept their promise, because in October 2012, "[they] cut more than 800 jobs in the United States and Canada this year and may be forced to lay off another 800 employees in North America."

 

STIMULUS GRANTS

The Windy Flats Project Began Construction Before The Stimulus Was Passed, Received A $218 Million Stimulus Grant And Used Wind Turbines Assembled By Seimans In Denmark.

 

STIMULUS FUNDS

Danish Catalyst Company, Haldor Topsoe, Received A $25 Million Stimulus Award For The Construction Of A Demonstration Scale Biorefinery.

 

Dominican Republic:

STIMULUS FUNDS

Parago Used Stimulus Funds to Hire Hundreds of Workers in El Salvador and the Dominican Republic to Administer a Renewable Energy Appliance Rebate Program.

 

El Salvador:

STIMULUS FUNDS

Parago Used Stimulus Funds to Hire Hundreds of Workers in El Salvador and the Dominican Republic to Administer a Renewable Energy Appliance Rebate Program.

 

Finland:

LOAN GUARANTEES*

After receiving over $500 million loan guarantee (from the ATVM program), Fisker Automotive is producing their $100K luxury electric sports car in Finland. However, Fisker, which has been having issues for a while, just this month was reported that "160 Fisker employees were let go, and 53 employees will stay on to manage further negotiations with the Department of Energy and a potential sale of assets."

 

Furthermore, according to Gigaom.com, "The news follows reports that Fisker has hired a law firm to advise it on bankruptcy options. It owes a loan repayment to the Department of Energy this month, and has been cutting costs and furloughed its employees last month. The company hasn’t made a car since the summer of 2012."

 

However, it seems that Gigaom has their GPS on Fisker, and in February 2013, they too (like many of Obama-selected green firms), were seeking Chinese assistance, "Fisker Automotive is reportedly weighing investment and acquisition offers from Chinese auto tech companies. Bloomberg reports that there’s a $350 million offer for 85 percent of the company from Chinese state-owned car maker Dongfeng Motor Corp, and Reuters reports that China’s Zhejiang Geely Holding Group (which owns Volvo) has another offer for a majority stake with a deal between $200 million and $300 million."

 

We'll keep our eye on this one because "Congress set hearing on Fisker troubles for April 24, 2013."

 

France:

CASHING IN

French Wind Farm Developer EnXco Pulled In Over $69 Million In Cash Grants Through The Stimulus' 1603 Program.

 

LOAN GUARANTEES*

In May 2010, the DOE offered AREVA Enrichment Services, LLC a conditional commitment for a $2 billion loan guarantee to support the Eagle Rock Enrichment Facility in Idaho Falls, Idaho. This loan was part of the 1703 loan program, and while AREVA is a France-based company that offers technological solutions for nuclear power generation with worldwide presence, at least the jobs are here in the USA. We think...

Germany:

STIMULUS GRANTS

E.ON Climate & Renewables Received Over $440 Million In Stimulus Grants For Wind Farms That Began Construction Before The Stimulus Was Passed.

 

STIMULUS GRANTS

At Least 25 Wind Turbines For Stimulus Funded Projects Were Supplied By German-Based Nordex.

 

Great Britain:

STIMULUS FUNDS

$39 Million In Stimulus Funds Went To Navistar For Electric Delivery Trucks That Are Manufactured In Coventry, England.

 

STIMULUS GRANTS

British Private-Equity Firm Terra Firma Received Over $40 Million In Stimulus Funds Through An American Wind Consortium It Bought Just Days Before The Stimulus Funds Were Awarded.

 

India:

STIMULUS GRANTS

India-Based Suzlon And Its Subsidiaries Installed Over 200 Wind Turbines Under Obama's Stimulus Grant Program With Most Of The Materials Coming From Its Operations Overseas.

 

Indonesia:

STIMULUS FUNDS

The EPA Gave A $1.5 Million Grant To Indonesia To Reduce Air Pollution In Jakarta.

 

Italy:

STIMULUS FUNDS

Brevini Wind Was Given A $12.75 Million Tax Credit To Build A Facility To Manufacture Wind Turbine Gearboxes In Indiana. Over Two Years Later The Company Has Only Hired 70 Of The 450 Workers Promised And The Company Has Announced They Do Not Expect To Be Operating The Facility Until Late-2013.

 

CASHING IN

Italian Wind Turbine Manufacturers Pulled In Over $84 Million In Cash Grants Through The Stimulus' 1603 Program.

 

Japan:

STIMULUS GRANTS

Japanese-Subsidiary Eurus Energy Received $91.4 Million In Stimulus Grants For A Wind Farm Completed Before The Stimulus Was Passed And Used 180 Turbines Manufactured Overseas By Mitsubishi.

 

Luxembourg:

STIMULUS FUNDS

Luxembourg-Based ArcelorMittal's Subsidiary Received $31.5 Million In Stimulus Funds For A Waste Heat Recovery Unit.

 

Malaysia & Germany:

STIMULUS LOAN GUARANTEES*

First Solar was privy to $3 billion through the 1705 loan guarantee program for three projects, plus suspicious Export-Import bank funding. Then during the May 16, 2012 House Oversight Committee hearing, CA Representative Darrell Issa surmised that First Solar (Germany 560, Ohio 280, and Malaysia with 1680 jobs) is "not an American company." It turns out that the numbers don't lie because CEO Michael Ahearn admitted, "in sheer numbers, most of our full time [employees] are outside the US."

 

Mexico:

STIMULUS LOAN GUARANTEE*

SunPower admitted that some of the solar panels for the $1.2 billion stimulus backed California Solar Valley Ranch would be manufactured at their facility in Mexico rather than their facility in California.

 

UPDATE: Despite SunPower's well-known financial issues, and the fact that it was under a shareholder suit alleging securities fraud and misrepresentations, just days (September 2011) before the 1705 Loan Guarantee Program’s deadline, along with four other solar companies, its $1.2 billion loan guarantee from the DOE was approved.

 

SunPower never directly got the DOE cash because they sold the California Valley Solar Ranch to NRG Energy, a Fortune 500 and S&P 500 Index company, of which NRG and its subsidiaries was the recipient of most of 1705 stimulus loans ($5.2 billion of taxpayer money and counting). But SunPower is still involved in this project and stands to profit if it succeeds.

 

STIMULUS FUNDS

ABB Inc. Received Over $16 Million in Stimulus Funds to Create Green Energy Manufacturing Jobs, the Company Has Laid Off Workers in the U.S. and Transferred Work To Mexico.


Russia:

STIMULUS FUNDS

Ener1 Received Over $118 Million In Stimulus Funds To Produce Vehicle Batteries. After Going Bankrupt, It Was Acquired Outright By A Russian Investor, Sparking Security Concerns Surrounding The Company's Work for The U.S. Military.

 

South Korea:

STIMULUS FUNDS*

Two South Korean companies –– LG Chem and Dow Kokam –– were given $303 million to produce car batteries in the U.S., but then brought in foreign workers. Local unions have criticized the company for filling jobs with foreign workers. The DOE has admitted that 11 of the 18 contractors on site are Asian firms.

 

STIMULUS GRANTS

The Gulf Wind Project Received A $179 Million Stimulus Grant And Sourced The Parts From South Korea, As Well As Japan And Mexico.

 

Spain:

STIMULUS LOAN GUARANTEES*

The Spanish company Abengoa received more than $2.8 billion in loans and grants, making them the second largest recipient of the $16 billion doled out through the DOE 1705 loan guarantee program.

 

STIMULUS FUNDS

Spain-Based Iberdrola Renewables Received $1.5 Billion In Loans And Grants And Claimed It Created Over 15,000 American Jobs But The Company Only Has 850 U.S.-Based Employees

 

STIMULUS GRANTS

Madrid-Based EDP Renewables Received Over $100 Million In Grants For Their Wind Farms and Announced In September 2011 That They Were Planning To Lay Off 10% Of Their North American Workforce.

 

Switzerland:

Swiss-Based Landis+Gyr Received Over $50 Million In Stimulus Contracts For Their Smart Grid Meters. Cathy Zoi, A Former Obama Energy Department Official, Held Over $250,000 Worth Of Stock In The Company As They Profited From Her Department's Policies. Zoi Had Previously Served As An Executive Director At Landis+Gyr Before Joining The Obama Administration.

 

Thailand:

BAILOUT FUNDS

After Taking A Taxpayer-Funded Bailout, General Motors Opened A $200 Million Plant In Thailand To Supply Diesel Engines For The Chevrolet Colorado Pickup Truck.

 

Vietnam:

JOBS COUNCIL

General Electric Opened A $61 Million Factory In Hai Pong To Produce Wind Turbine Components. GE's CEO Jeffery Immelt Chairs The President's Jobs Council And The Company Has Received Over $1.2 Billion In Stimulus Funds.

 

In closing...

If we dug deeper, we'd find much more, however, I'm sure you get the point. But is this just another tally in Obama's long list of broken promises? 

It's much worse than that. Whether the Obama administration is sending green jobs to Finland, Malaysia, or Mexico and billions of our tax dollars to Spain, Britain, and even China, it's more evidence that this administration –– Congress for that matter –– doesn't give a damn about our economy. Obviously, the president's clean-energy dirt has fueled corporate welfare and crony capitalism, and the massive amount of "green outsourcing" is pure deception and an insult to American taxpayers and those of us seeking jobs.

Stay tuned for more Green Corruption Files...

Two Women –– one Citizen & one energy columnist –– join forces on our "mission" to expose one piece of the Green Corruption scandal at a time.

Read more…

Organizing for Action: Obama's Recycled Political Machine Pushing Climate Change, Raising Unlimited Cash from Special Interests, and Selling Access 4063680240?profile=original

“Obama, who long cast himself as an ardent opponent of big money in politics” –– even scolding the Supreme Court's ruling on campaign finance reform during his 2010 State of the Union address –– in mid January unleashed his recycled political machine that is pushing on issues that range from climate change to immigration reform to women’s health.

According to Politico, “The president and his allies declared it would be powered by grassroots activists and change politics from outside Washington.”

Not so fast.

If you read the fine print, “[this nonprofit group] shows how disturbing its work really is. Its name is Organizing for Action (OfA), and if its initials seem familiar, that’s because the group is the direct descendant of Obama for America, the president’s campaign organization in 2008 and 2012, noted the left-wing New York Times –– and it's an organization with many of the same Obama strategists, but without the restraint of limited donations.

"It stinks," slammed the Washington Post in an op-ed titled, "The temptation of dark money" –– "judging by recent reports, Organizing for Action should be renamed Paying for Access," because they are raising large sums of money by offering advisory board positions with "the privilege of attending quarterly (and secret) meetings with the president."

It's pretty obvious what access and influence buys in Washington DC these days, but now the Obama Team is openly selling access. Is that even legal?

Or maybe it's just "change we can believe in."

With a massive address list of 20 million, they are circulating emails claiming, "Organizing for Action's mission is to put power back into the hands of the American people. That's why we won't accept a single dollar from corporations, PACs, foreign donors, or lobbyists."

Meanwhile, Jim Messina, Obama’s 2012 campaign manager and the OfA national chairman, and Jon Carson (OfA Director) were traveling across the country “meeting with members of the Obama 2012 National Finance Committee, who are being pressed back to work to find support for the new organization” –– even ”hitting up Hollywood studio executives, California energy investors and Chicago business titans,” reported the Post in February. And in its first days, Organizing for Action "[had] closely affiliated itself with insider liberal organizations funded by mega-donors like George Soros and corporations such as Lockheed Martin, Citi and Duke Energy,” noted Politico in late January.

However, after much criticism, the Washington Free Beacon recently reported, "OFA pledged not to accept donations from corporations and foreign individuals or groups," but will still accept donations from labor unions.

Hmm, we'll see about that.

In my last exposé, Citi’s Massive 'Green' Money Machine, I revealed Citigroup's large footprint inside the Obama White House as well as this green-energy scheme, chronicling their connection to approximately $16 billion of “green” stimulus deals. Meanwhile, I’ve highlighted Duke Energy a few times: Duke’s CEO Jim Rogers and his "2012 DNC Cameo" as well as the money behind it, however, fresh information shows that Duke Energy has more stimulus funds to account for. 

Still, there is a much bigger player to expose at this time: the left-wing billionaire George Soros: Obama’s "Agent of Green."

Labeled by the Right as "the single most destructive leftist demagogue," there has been much said and written about the politically powerful George Soros. Along with his deep-rooted shadowy agenda, we know that Soros funds numerous left-wing organizations, including radical environmentalism groups like the Tides Foundation. Most identified are the “anti-Fox” outlet Media Matters, the extremist Moveon.org as well as Obama’s left arm, Center for American Progress (CAP).

As Soros continues to bankroll the Left's far reaching progressive plans, he's more interested in the bottom line, which is evident by his own words, “I am basically there to make money. I cannot and do not look at the social consequences of what I do.”

True to Soros' nature, he’s cashing in at the Bank of Obama, despite what it's doing to our economy. Starting with the fact that Soros was involved in crafting the trillion-dollar so-called "Recovery Act," which President Obama signed into law in February 2009. A massive economic stimulus bill –– among the biggest in history –– that was sold to the American people as a means save our economy, however, recent revelations reveal the real intent behind the stimulus package; a key tool for advancing clean energy, of which at least ten percent was earmarked for that purpose –– it was packed full of "clean energy provisions." 

 

But what has followed is nothing but pure dirt (cronyism and corruption) including the fact that "in the first quarter of 2009, Mr. Soros went on a stock-buying spree in companies that ultimately benefited from the federal stimulus," including twelve alternative energy and utility companies.  And, after three weeks of intense research, I found that through these twelve, and other timely investments in renewable energy, Soros' green tab exceeds $11 BILLION of stimulus money –– and you, the taxpayer, footed the bill. Keep in mind that this tally is not factoring in the huge profit Soros is making off of these investments.

Most aren’t aware of Soros’ additional links to the president that date back as far as 2004, and how he is key villain in this Green Corruption scandal.

As of late, Daniel Greenfield of Frontpage.com took aim, “George Soros has leased the White House as a summer home for eight years, and appointed a number of his stooges to Cabinet positions, including Chief of Staff.”

In January, President Obama’s named former CAP Senior Fellow Denis McDonough (a deputy national security advisor and a longtime aide to the president) as chief of staff to the White House, to replace outgoing Jack Lew, who is set to take over Timothy Geithner's post as Treasury Secretary. Marita Noon (energy columnist at Townhall.com and my cohort in unearthing the vast amount of clean-energy dirt seeping through our current administration), and I recently completed a collaboration of Mr. Lew and Citigroup: "Wall Street Walks all over the Obama White House."

Daniel Greenfield explains it best, “Denis McDonough’s appointment as Chief of Staff is probably the biggest win for the Soros Lobby since the Obama victory…the George Soros funded Center for American Progress, which is the criminal brain behind the Frankenbody of Obama Inc.”

Subtly put, Edwin Chen of Bloomberg in 2008 described CAP as "an intellectual wellspring for Democratic policy proposals," of which, at that time, a squadron of CAP experts worked with president Obama's transition team along with CAP's president and founder, John Podesta, former chief of staff to President Bill Clinton.

CAP, on my radar since 2010, is closely aligned with the Obama White House, and last summer we gave some insight into the Podesta Group's lobbying connection to SolarReserve and its $737 million in Department of Energy (DOE) loan guarantees, which is also a Citigroup investment, and part of the stimulus created 1705 loan program, the DOE's "junk bond" portfolio.

Looking deeper, you’ll find many CAP associates inside Obama’s 2009 Green Team: both former Climate Czar Carol Browner and the self-proclaimed communist turned CNN contributor, Green Jobs Czar Van Jones. Meanwhile others from CAP had posts inside the Department of Energy like Steve Spinner, a two-time Obama bundler and former DOE Loan Programs Advisor. They are all central to this green-energy scheme, which fit into different categories: "The RAT in the Recovery and the Gang of Eight" as well as the "DOE Dirty Dozen."

We've already unleashed four of the "gang," including General Electric through the 2008, 2009 DOE Electricity Advisory Committee, which includes other green stimulus winners like NextEra Energy and American Electric Power (AEP) –– the former we've covered and the latter we'll get to in this post.

On our journey, we've exposed John Doerr of Kleiner Perkins and our new Secretary of State, Senator John Kerry's part. Now we tackle George Soros, who not only heavily backed candidate Kerry in 2004, but also funds the Apollo Alliance –– a left-wing organization who exerts powerful influence on the views and policies of the Obama administration, of which I had alerted to in 2010 that boasted of writing Obama's trillion-dollar spending spree, and will revisit again.

Further in our "gang of eight" is the American Council on Renewable Energy (ACORE) that we noted in our Citigroup columns, and eventually we'll get to TJ Glautheir and McBee Strategic Consulting. Adding to the immense corruption, the "DOE Insiders" and CAP's green-energy, crony-corruption complete stories are still in the works.

Soros Funds Obama Victories

Soros has long, deep and shady ties to the Democratic Party, more specifically, Hillary Clinton, yet Soros jumped into the political arena with Barack Obama as early as 2004, and donated to his Senate run. "Soros and his family gave Barack Obama $60,000. This does not include money that Soros was able to funnel to so-called 527 groups (Moveon.org, for example) that have also been politically active; nor does it include money that Soros was able to raise from tapping a network of friends, business associates, and employees," revealed Ed Lasky news editor of American Thinker in 2007.

Soros helped bankroll an Obama victory in 2008, making it on Forbes' Obama's Billionaire" list;

however, Soros' overall political funding statistics are startling, as reported by the New Yorker in February 2012.

Over the past thirty years, no benefactor has contributed more to the Democratic Party and other liberal groups than Soros, the billionaire chairman of Soros Fund Management LLC, a hugely lucrative hedge fund. In 2004, he contributed more than twenty-three million dollars, a record at the time, to Democratic groups aiding John Kerry’s ultimately unsuccessful Presidential bid. In 2008, he was one of the three largest campaign donors to either party, as he gave five million dollars to help make Barack Obama President.

But the king of contributions wasn’t done there, and in September 2012, Soros pledged $1.5 million in donations to a trio of super PACs backing President Obama and congressional Democrats.

Soros and his family even made it on the Center for Public Integrity list of biggest financial backers of election 2012, ranking #18 with total contributions to super PACs at $5.1 million –– of course all pro-Obama and pro-Democrat.

Besides Soros arming the Democratic Party with a large campaign war chest, he has donated some $5 billion of his fortune to left-wing non-profit groups through the Open Society Institute, which as Michelle Malkin says, "is committed to Soros’ militant ideology of toppling the fascist tyranny of the United States, which he says must undergo de-Nazification in favor of justice."

In the summer of 2010 I had written about the cap-and-trade scheme as well as the Soros-funded Tides Center/Foundation participation, which involved the Chicago Climate Exchange and an array of Obama connections; climate crusaders; and radical environmentalist and conservation groups. Additionally, built-in to this scheme at the time were players like Richard Sandor, Al Gore's Generation Investment Management (GIM), Goldman Sachs, as well as the Joyce Foundation and Obama's Senior Advisor and Assistant, Valerie Jarrett. Looming in the midst are two powerful billionaire forces: the "global warming guru" Maurice Strong, and of course, George Soros, of which according to Canada Free Press, both "were working on anti-American schemes as far back as 2006."

There is much more tell about Apollo, but a newly released investigation by Watchdog.org, reveals troubling information about the Tides Foundation, listing big-name liberal donors and the fact that "from 2009 to 2011, the government has given Tides some $28 million in grants paid for by American taxpayers."

And what do taxpayers get for that 28 mill? 

"Liberalism’s most ambitious agenda" –– a laundry list of programs, of which at the conclusion, Watch.org states, "significantly it’s become a meeting place of two potentially warring factions of the Left — labor and environmentalists." Meanwhile, "Tides officials logged 92 White House visits last year," and "Perhaps Tides’ biggest coup was using its Apollo Alliance Project to help draft Obama’s massive stimulus bill."

As I warned in 2010, "our environment has been hijacked," and now we have President Obama vowing to confront climate change in his second term. This time he's armed with a political propaganda machine, a powerhouse of left-wing Big Green groups, plenty of high-powered clean energy lobbyists, and wealthy "green cronies" with access and influence. 

Throw in a new "Climate Cabinet" –– which thrills most environmentalists –– with the likes of Climate Hawk John Kerry as Secretary of State, Climate Czar Heather Zichal as well as the Center for American Progress four-year lease of the White House. Plus, those inside the Obama administration that are directly benefiting from "green" (Citigroup and Goldman Sachs come to mind), be prepared for regulations and legislation that will in some form or another resemble cap-and-trade and demands for additional funds to bankroll Obama's efforts to save our planet.

Furthermore, the president's choice of Gina McCarthy –– labeled as "Obama's Green Quarterback" –– to head the Environmental Protection Agency most say is a signal that the president "plans to make climate change a larger part of his environmental agenda." With Ernest Moniz set to run the Energy Department, don't expect "green corporate welfare" to end either. "Both nominees fit nicely into the pragmatic mold of Obamanomics, seeking to increase government's role in the energy sector with the cooperation of business," writes Timothy Carney, Senior political columnist at the Washington Examiner.

 

Soros Helped Craft the 2009-Recovery Act; Then Went on Stock-Buying Spree

Most relevant to this piece of the Green Corruption scandal is Soros' timely investments, which included twelve alternative energy and utility companies.

Just after the release of Peter Schweizer’s blockbuster 2011 bestseller, one of the most damning revelations featured in Throw Them All Out aired on Stephen K. Bannon's Victory Sessions –– in an interview that starred Schweizer and Wynton Hall of Breitbart.com.

Billionaire George Soros gave advice and direction on how President Obama should allocate so-called “stimulus” money in a series of regular private meetings and consultations with White House senior advisers even as Soros was making investments in areas affected by the stimulus program.

While we know that George Soros has visited the White House on at least five occasions since Barack Obama became president, possibly more, Schweizer gives specifics, "Mr. Soros met with Mr. Obama’s top economist, [Larry Summers, another "green crony"] on February 25, 2009 and twice more with senior officials in the Old Executive Office Building on March 24th and 25th as the stimulus plan was being crafted. Later, Mr. Soros also participated in discussions on financial reform."

Then Schweizer reveals, "In the first quarter of 2009, Mr. Soros went on a stock-buying spree in companies that ultimately benefited from the federal stimulus."

  • Soros doubled his holdings in medical manufacturer Hologic, a company that benefited from stimulus spending on medical systems
  • Soros tripled his holdings in fiber channel and software maker Emulus, a company that wound up scoring a large amount of federal funds going to infrastructure spending
  • Soros bought 210,000 shares in Cisco Systems, which came up big in the stimulus lottery
  • Soros also bought Extreme Networks, which, months later, said it was expanding broadband to rural America “as part of President Obama’s broadband strategy”
  • Soros bought 1.5 million shares in American Electric Power, a company Mr. Obama gave $1 billion to in June 2009
  • Soros bought shares in utility company Ameren, which bagged a $540 million Department of Energy loan
  • Soros bought 250,000 shares of Public Service Enterprise Group, 500,000 shares of NRG Energy, and almost a million shares of Entergy—all companies that came up winners in the Department of Energy taxpayer giveaway that produced the Solyndra debacle
  • Soros bought into BioFuel Energy, a company that benefited when the EPA announced a regulation on ethanol
  • Soros bought Powerspan in April 2009. Just weeks later, the clean-energy company landed $100 million from the Department of Energy
  • In the second quarter of 2009, Soros bought education technology giant Blackboard, which became a big recipient of education stimulus money
  • Soros also bought Burlington Northern Santa Fe and CSX, both beneficiaries of Mr. Obama’s plans for revitalizing the railroads
  • Soros bought Cognizant Technology Solutions, which scored stimulus funds in education and health care technology
  • Soros also bought 300,000 shares of Constellation Energy Group and 4.6 million shares of Covanta, both of which landed taxpayers’ money through the stimulus, the former of which bagged $200 million

In Throw Them All Out, Schweizer catalogs several more of Mr. Soros’ trades and says that, while “it is not necessarily the case that Soros had specific insider tips about any government grants,” nevertheless, Soros’ “investment decisions aligned remarkably closely with government grants and transfers.”

Whether Mr. Soros’s involvement in private White House meetings influenced which companies received stimulus money is unclear. What is certain, writes Schweizer, is that “crony capitalism favors the politically active, and the manipulative. It does not favor one party over the other. It does not care about policy. It just knows how to make money off any policy — your tax dollars, leveraged to the rich.”

Just After the February 2009 Stimulus, Soros Forms New Climate Change Group and Launches Green Growth Fund, Plus Quantum Strategic Partners. Both Silver Lake and Quantum Cash in on Stimulus Funds 

Soros, who manages funds through various accounts in the US and the Cayman Islands, owns shares in financial companies and banks that include Citigroup, JP Morgan, Goldman Sachs, Bank of America and so on. However, as noted, in early 2009, just after the trillion-dollar stimulus bill was crafted and passed (February 2009), with 10% earmarked for alternative energy (almost $100 billion tax dollars), Soros dove into renewable energy –– and from what I gather, financial services tops Soros' interests, yet energy is second with his "sector weightings" at 6.1%.

In addition to the timely investments divulged in Schweizer's book, in 2011 Reuters reported that Soros, through various funds had invested in green companies including "U.S. solar panel maker First Solar Inc (another part of Green Corruption that I'll get to in a bit) and Chinese solar company JA Solar, according to U.S. Securities & Exchange Commission filings. At the same time, his funds have investments in sectors that environmentalists complain about, such as coal company Peabody Energy Corp and oil company InterOil Corp, according to filings.”

Besides spending billions to fund left-wing, radical environmental groups, Soros, in the fall of 2009, announced his plan to invest $1 billion in clean energy (climate change), and formed and financed ($10 million a year for 10 years) an “advisory group’ called Climate Policy Initiative (CPI), which states they are “an independent, not-for-profit organization with long-term support from financier and philanthropist George Soros.”

At that time, Soros had this to say, “The problem of global warming is primarily a political problem at this point.” Adding, “The science is beyond dispute, but how do we achieve the objectives we all know are necessary? That is a political problem.”

Later in early 2011, Soros teamed up with the private equity firm Silver Lake Kraftwerk to invest in “the energy and resource sectors,” of which he hired folks from Kleiner Perkins (KPCB) –– the Venture Capital firm of John Doerr and Al Gore that I've tackled quite a few times.

Also in 2011, Soros' Quantum Strategic Partners led a $25 million investment round "into a start-up that aims to cut electricity waste, the latest addition to the billionaire investor's green-energy portfolio," reported Reuters. Soros jumped into this venture with existing investors KPCB, Google Ventures, Foundation Capital and Lux Capital. The company Transphorm, based in Goleta, California, received $9 million in stimulus grants, of which details can be found in my extensive research on KPCB Greentech Portfolio that secured all kinds of loans, grants and special tax breaks (federal and state) –– tied to at least $10 billion of Obama's taxpayer funded green-energy spending spree.

NOTE: From what I gather, there is the Quantum Fund with familiar big green winners, and Quantum Strategic Partners is an investment fund managed by Soros Fund Management, and are the lead investor in Crystal Financial, however, they also are investing in green, and I have yet to locate a Quantum Strategic Partners cleantech portfolio. 

But the big catch for Soros was Cathy Zoi.

Zoi, an Al Gore acolyte, who is also one of the “DOE dirty dozen” tied to billions of clean-energy stimulus funds, is the former Assistant Secretary for Energy Efficiency Cathy Zoi, who oversaw the disbursement of more than $30 billion in green-energy stimulus funds in her Department of Energy post" at the Office of Energy Efficiency and Renewable Energy (EERE) –– a post which began in April 2009, and later she briefly filled the role of Acting Undersecretary for Energy, yet in March 2011, she jumped the DOE ship to work for Soros.


In February 2012, Silver Lake Kraftwerk and others invested $81 million into the California solar firm SolarCity –– a solar firm that I covered in my February post, “Obama's Jobs Council Closed: Mega-Rich Member Penny Pritzker "Rumored" for Commerce Job, “Related” to Two Large Green Corruption Stories.”

The SolarCity story includes other billionaire players and Obama donors like Elon Musk, Nicholas J. Pritzker, Al Gore's firm Generation Investment Management LLP as well as Obama Wall Street buddies: Goldman Sachs, Bank of America, and Citigroup. Adding to the sleaze, as of December 2012 SolarCity was under a federal prove regarding their $341 million in grant, and looking deeper I found 27 1603 grants for "USB SolarCity Master Tenant," which ranges over 15 states, totaling over $88 million. This means that SolarCity snagged approximately $429 million of tax-free cash.

Soros Green Stimulus Stock Winners

Number 1: NRG Energy 

NRG Energy CEO David Crane Thoughts on $5.2 Billion of Taxpayer Money, "It is just filling the desert with panels." 

As stated, just after the stimulus was passed in February 2009, Mr. Soros bought 500 shares of NRG Energy, and as of the latest data I could find (the end of December 2012), his current shares are 866,137, which according to Insider Monkey is valued at $19,912,000.

Interesting enough, President Obama’s other billionaire buddy Warren Buffett along with Mr. Soros –– both revered "as legendary figures in the investment world of our times" –– seem to gravitate toward the same stock ideas, but “the investment styles of the two are night and day different.”

Buffett too is heavily invested in NGR Energy, is connected to First Solar, and they both stand to benefit from key energy decisions coming down legislative pipeline: both on the rejection of the Keystone Pipeline; while Soros and T. Boone Pickens in the passing of the NAT GAS Act.

When I get to the rest of Soros "green stimulus stocks" in this post, I'll share more on Pickens and the NAT GAS Act (H.R. 1380), which died with the 112th Congress, and was referred to Committee.

Meanwhile, there is another ploy that should be pointed out that was reported by Breitbart.com, which cites more Soros Fund Management natural gas investments. But also, President Obama in April 2012, in order to expedite the natural gas boom, "decided to form an inter-agency natural gas council run by Cecilia Muñoz, a former community organizer with La Raza and White House bureaucrat with deep ties to George Soros."

But I digress a little...

 

NRG Energy Inc., a Fortune 500 and S&P 500 Index company, owns and operates one of the country's largest and most diverse power generation portfolios that includes coal, nuclear, gas, wind and solar generation, of which we know they are in cahoots with Citigroup.

NRG's highly paid president and CEO since 2003 (and stock owner), David Crane had this to say back in 2011, “I have never seen anything that I have had to do in my 20 years in the power industry that involved less risk than these projects.” “It is just filling the desert with panels,” he added. 

Crane was referring to how NRG and its partners secured $5.2 billion in federal loan guarantees, plus hundreds of millions in other subsidies for four large solar projects.

While Crane is a friend of the Clintons, which is one reason why, in September 2010, NRG made a $1 million contribution through the Clinton Global Initiative to deliver solar power to Haiti. Crane did in fact place his bet on Hillary Clinton during her 2008 run for the presidency, but later, and along with other NRG executives, sided with then-Senator Obama. In fact, according to OpenSecrets.org, since 2004 NRG Energy has donated $1,191,047 to both political parties, primarily to Republicans in 2006, however, the shift that went to blue in 2008 and 2010 is quite amusing, with top five candidate donations going to Democrats, including President Obama –– with the exception of David Dewhurst (R-TX)..

In October 2012 the Heritage Foundation reported on more NRG favoritism, where they "received the go-ahead from the Interior Department to produce wind energy off the coast of Delaware, despite doubts that the project in question will actually materialize." But the bias has been flowing out of the Department of Interior since Obama took office in 2009, and began pushing his green agenda –– a discovery Marita and I chronicled in our Special Seven series last summer, which included many favored DOE loan recipients.

Lachlan Markay goes on to unravel Kathleen McGinty, Director at NRG Energy and a “protégé of the former Vice President Al Gore; her White House influence; and subsequent visits to key environmental officials.

In fact Gore acolytes have infiltrated the Obama administration, and we've already uncovered the former vice-president's extraordinary "carbon foot print" inside the Green Bank of Obama. It turns out that Gore is also an Obama White House visitor, and we know about two of them. In December 2009, President Obama met with Gore in the Oval Office in advance of his meeting with business and environmental leaders at the White House regarding the Copenhagen conference, and Gore also visited the Obama White House on April 8, 2010. 

Keeping it in the NRG family, President Obama snagged the support of Jason Few's wife when Arvia Few became a bundler for his re-election campaign. According to the Washington Free Beacon, "Mr. Few became senior vice president of Houston-based Reliant Energy in 2008. He was named president of Reliant in May 2009 when NRG Energy acquired Reliant for $287.5 million [and abruptly left the company in October 2012]. Mr. Lew currently serves as executive vice president and chief customer officer of NRG Energy.

In an analysis of the DOE Loan Program by Veronique de Rugy (an extremely significant report I'll revisit in a bit), as of June 2012, "Reliant Energy and Reliant Energy Tax Retail LLC, two NRG Energy companies, reported receiving at least 37 grants under the ARRA," of which we know that in late 2009, Reliant Energy was among 100 winners that came out of the $3.4 billion of smart grid stimulus grants for just under $20 million.

Where are the other 36 grants for Reliant?

More digging required... but another NRG company, "Green Mountain Energy, received two grants under the ARRA in the second quarter of fiscal year 2011." Furthermore, "NRG will also be eligible to receive $430 million from the Department of the Treasury" –– in addition, many NRG companies have already benefited from the 1603 grant program, which was created under the 2009-Recovery Act "to support the deployment of renewable energy resources."

 

Still, SolarCity, Reliant, and Green Mountain are nothing compared to NRG's overall footprint inside the Green Bank of Obama.

 

Both NRG Energy and Crane are aggressively pushing clean energy, and according to Mark Gunther of GreenBiz.com in 2011, "[Crane] is passionate about the climate crisis –– he was active in USCAP, the failed big biz-big green coalition that lobbied for federal regulation of greenhouse gases." So passionate that since 2000, OpenSecrets.org records that NRG Energy has spent $10,356,000 in lobbying efforts, and $2,500,000 in 2012 alone. And that  "5 out of 14 NRG Energy lobbyists in 2012 have previously held government jobs."

Whether we can credit George Soros, David Crane, NRG executives or their lobbying money –– most likely an "all of the above" strategy –– there is no doubt that NRG Energy has "access and influence," as reflected in the sheer volume of green government subsidies. Moreover, it is clear that those that hire lobbyists and make campaign contributions have a much better rate of return on investments than those that don't.

To continue reading, click here...

NOTE: This is another rather lengthy post, thus I've changed the title of my blog to The Green Corruption Files. Please feel free to continue reading and review the rest of "Soros Stimulus Stock Winners," including NRG Energy's part in Green Corruption  –– (a Fortune 500 and S&P 500 Index company) and its subsidiaries that were the recipient of most of 1705 stimulus loans: $5.2 BILLION of taxpayer money and counting.  

Beware: most of these renewable energy and utility firms lead to more crony, corruption players and stories, confirming the size and scope of Obama's "green corruption" scandal –– the largest, most expensive and deceptive case of crony capitalism in American history.

 

Read more…

Citigroup’s Massive 'Green' Money Machine

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Citigroup, the Nation's Third-largest Bank Snagged the Largest Amount of Federal Money

In my opening of "Spreading the Wealth to Obama's Ultra-Rich Jobs Council" series I had stated, “the "Too-Big-to-Fail" Citigroup, a TARP recipient received $45 billion in government bailout funds,” however, CNBC tells a bigger story, and recently announced them as the number one Big Bank to snag federal aid, “In total, Citigroup received $476.2 billion in cash and guarantees."

The chatter surrounding President Obama's choice to replace Timothy Geithner for Treasury Secretary, Jack Lew, now Chief of Staff, hit the airwaves a while ago, sending attention toward the conflict of interest and obvious hypocrisy. Lew's short stint at Citigroup, his Cayman Islands fund, and accusations of Lew (as the president’s budget director) making "false" statements before the budget committee two years ago, should be cause for alarm.

During his confirmation hearing for Treasury this month, Mr. Lew apparently faced "tough questions, but with few fireworks," says one reporter; yet the Huffington Post reported that Lew "maneuvered around questions... about his work at bailed-out bank Citigroup during the financial crisis, including his controversial investment in a Cayman Islands fund."

According to Forbes, "Citi’s alternate investment group lay at the epicenter of the financial crisis. Under Lew’s tenure, it lost $509 million in the first quarter of 2008 alone. More than 50,000 employees, or one-seventh of Citigroup’s global workforce, were laid off in November, and the stock price dropped about 75 percent." Forbes goes on, "Despite these horrendous losses, Lew was paid $1.1 million in 2008 for less than a year’s work," and Breitbart News recently pointed to more absurdity, Lew, was "a man who in 2009 bagged a $950,000 bonus after his bank, Citigroup, received billions in a taxpayer-funded bailout."

What most don't know is that since 2007, Citi has been heavily involved in "climate change activities" and have made a massive foot print inside President's Obama's clean-energy dirt –– transactions that tie them to approximately $16 billion of taxpayer money.

Citigroup –– labeled a “heavy hitter” by Center for Responsive Politics (CRP) –– in 2012 contributed to both President Obama and Mitt Romney, and "contributions from CITIGROUP PAC-FEDERAL" went to both parties: 47% to Democrats, 53% to Republicans, and among the 2012 Obama bundlers were employees of big-name firms including Goldman Sachs, Morgan Stanley, Barclays and Citigroup.

Yet, in 2008, it was primarily a "blue year" with 63% to Democrats and 37% to Republicans, and   Citigroup made it as the #7 top donor to candidate Obama with a few executives lined up as campaign bundlers.  Citi, also a major lobbyist, where “53 out of 63 Citigroup Inc. lobbyists in 2012 have previously held government jobs" with quite a few Citi executives like Mr. Lew holding key positions at the Obama White House.

All the President’s Citi Men 

The infiltration of so many Citigroup executives –– and Goldman Sachs for that matter –– inside the Obama administration is amazing, even shaping his economic policy. They range from "chief of staff Jack Lew to transition team chief Michael Froman to a host of people connected in some form or another to former Citi executive Bob Rubin," alerts Matt Taibbi of Rolling Stone Magazine, starting with the outgoing Treasury Secretary, Timothy Geithner, who served under Rubin in the Clinton administration.

Tucked neatly inside a corrupt government system is Mr. Robert Rubin, who, from what I gather, was also at the epicenter of the 2008 financial crisis. Rubin spent 26 years at Goldman Sachs, and from November to December 2007, served temporarily as chairman of Citigroup, and resigned from the company on January 9, 2009. But not without his cash, as Bloomberg Businessweek notes, "Rubin gave up a portion of his contracted compensation — and was still paid around $126 million in cash and stock during a tenure" that spanned through Citigroup's taxpayer funded bailout.

To add insult to taxpayer injury, it turns out that at that time, in spite of the pitiful government bailout, "No Citi executives are replaced, and few restrictions are placed on their compensation. It's the sweetheart deal of the century..." says Taibbi.

The scandalous Wall Street revolving door, which the Republican Party takes the hits for, is thick inside the Democratic Party, more specifically the Obama administration. Even the left-wing New York Times noticed the infiltration, "At its unveiling in November 2008, almost the entire Obama administration's economic team could be said to be made up of followers of so-called Rubinomics, and many of them had served under Mr. Rubin."

Their significance is that "they collectively offer a microcosm of what the Democratic Party has come to stand for in the 21st century," writes Matt Taibbi. The "model for this Democratic Party: Let the rich do their thing, but give a fraction more to everyone else," says David Sirota, a former Democratic strategist.

In late 2009, Taibbi lays out a compelling case on how Obama sold out to Wall Street –– "Obama's Big Sellout" –– "Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008." The Obama inspiration came from the "sense that a genuine outsider was finally breaking into an exclusive club, and they were voting for "'change.'"

However, Taibbi seemed shocked, noting that it all began after Obama was elected in 2008, "What's taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history." Later he asks the question, "How did we get here?" Yet answers, "It started just moments after the election –– and nobody noticed."

Outsider?


Obama had his fare share of Wall Street buddies who helped ensure an Obama victory in 2008, poring millions of dollars into his campaign coffers, making their mark as TOP campaign donors, with even Wall Street executives bundling huge sums of money for then-candidate Obama. Besides Citigroup, other bailout recipients made this special donor list: Goldman Sachs, JP Morgan Chase, and Morgan Stanley. Further down the line you'll find Bank of America, Lehman BrothersMerrill Lynch –– the latter two indirectly, and so on. Meanwhile many of the executives running these enormous failures, were not only rewarded with "shameful" big bonuses but the Obama administration awarded them with jobs, commissions, stimulus money, government contracts, and more.



Jack Lew

  • Nominee for Treasury Secretary 
  • White House Chief of Staff, since January 2012 
  • Former Head of Office of Management and Budget, from November 2010 to January 2012 
  • Lew originally served as deputy secretary of state for resource management -- the State Department's chief operating officer, from January 2009 to November 2010 
  • Former CEO of Citigroup’s Alternative Investments, from January 2008 but was with Citi starting in 2006, and departed either in late 2008 or in January 2009
  • Director at the Office of Management and Budget under the Clinton administration as well as other roles for Former President Bill Clinton

"Hired with a recommendation from then-Citi executive and former Treasury Secretary Robert Rubin, Lew became chief operating officer of Citigroup's global wealth management division in July 2006. He later became COO for Citi Alternative Investments (CAI), a largely administrative role that was apart from investment decisions that hurt the bank," writes Reuters.



However, a Huffington Post writer says, Lew "oversaw a Citigroup unit that profited off the housing collapse and financial crisis by investing in a hedge fund king who correctly predicted the eventual subprime meltdown and now finds himself involved in the center of the U.S. government's fraud case against Goldman Sachs."

According to CNBC News, Lew's brief time as COO of the CAI unit ranged from "January 2008 and held the position during the peak of the financial crisis, when Citi received a $45 billion bailout from the federal government. He left in early 2009 to join the Obama administration."

Furthermore, Breitbart News notes that Lew (a lifelong Democrat) –– "mostly a government man" –– is a long-time Hill staffer, who "headed the OMB in both the Clinton and Obama administrations." And that Lew "spent a few years as a private attorney in between administrations, working mostly on environmental and energy issues."

"By the end of December 2008 (or was it January 2009?), Lew had lined up a new job: away from Wall Street and back in Washington as a deputy secretary of state under Secretary Hillary Rodham Clinton," records the Washington Post.



Ironically, in 2009 President Obama had scolded Citigroup for its "plans to accept delivery on a luxurious $50 million corporate jet made in France," even stating at that time that "[he will] demand more accountability from recipients of bailout funds." Yet not a peep against the absurdity of Mr. Lew's $950,000 bonus "after his bank, Citigroup, received billions in a taxpayer-funded bailout."



Instead, Lew gets promoted...

Prior to Lew's 2012 rise to White House Chief of Staff, in November 2010, he became the head of the Office of Management and Budget to replace departing OMB chief Peter Orszag (another Rubin protégé), who departed the Obama administration and joined Citi’s investment banking group as a vice chairman. Note: This OMB post is very relevant to the Department of Energy loans and federal stimulus grant –– Green Corruption. 




Michael Froman

  • Deputy Assistant to the President and Deputy National Security Advisor for International Economic Affairs, since February 2009 
  • Member of Obama's National Economic Council, since February 2009 
  • From 1999 to sometime in 2009, Froman "served in a number of roles at Citigroup, including Managing Partner, Infrastructure and Sustainable Development Investments, Chief Operating Officer of Citi Alternative Investments (CAI)," etc. 
  • 2008 Obama Bundler
  • Former chief of staff to Treasury Secretary Robert Rubin during the Clinton administration 

During the 2008 presidential campaign, Froman served as an informal adviser, raising money and helping to secure endorsements. In fact, “Michael Froman, a close college friend of Obama’s, managed Citi’s alternative investment portfolio until he left for a top White House post in 2009. Froman was key to the President’s 2008 election effort, connecting him with major donors in New York’s financial industry," notes Lachlan Markay.

The March 2012 House Oversight scathing report confirms these facts, and adds that Froman was a 2008 Obama bundler –– "he was a friend of Obama’s from law school, and supported his political career by bundling over $200,000 for his 2008 presidential candidacy."

Froman was also an Advisory Board Member of the 2009 Obama-Biden Transition Team, and in January 2009 was awarded an "unusual, joint position with the National Security Council and the National Economic Council" –– twin posts that gave Froman a direct line to the president.

Under his "deputy" role, Froman "is responsible for coordinating policy on international trade, investment, energy, climate and development issues." Meanwhile at the NEC, he was in good company with Wall Street insiders, more specifically, Obama's then-economic czar Larry Summers, another Harvard alumni, and a key "revolving door" player tied to more Obama bundling –– both the NEC and Summers I'll address in a bit.

But if we go back in time, the cozy ties even intrigued the New York Times, "Mr. Froman heard that Mr. Obama was running for the Senate and offered assistance. A prodigious fund-raiser, especially among New York’s young finance crowd, Mr. Froman introduced Mr. Obama to Robert E. Rubin, the former Treasury secretary, who became a major adviser." The Times further notes, "Like a growing number of potential Obama appointees, Mr. Froman worked for Mr. Rubin."

Prior to his arrival at the White House, Froman served in a number of roles at Citigroup from 1999 to sometime in 2009, and "received more than $7.4 million from the company from January 2008 to when he joined the White House" in early 2009.

According to a 2009 article by the New York Times, "That money included a year-end bonus of $2.25 million for work in 2008, which Citigroup paid him in January." Instead of outrage from the White House, they justified Froman's earnings and defended his bonus by claiming "he had decided to give it to charity."

However, Taibbi describes a more sinister scenario, “Incredibly, Froman did not resign from the bank when he went to work for Obama: He remained in the employ of Citigroup for two more months, even as he helped appoint the very people who would shape the future of his own firm." In fact, Taibbi labels Froman as "one of the most egregious examples — up there with Bob Rubin, literally — we’ve yet seen of the way the revolving door works between business and government generally, and between Citigroup and Treasury in particular."

And now we have Jack Lew to continue this incestuous line, but there are more Obama Citi Men...

  • Former Chairman of the Board for Citigroup, from 2009 to 2012 but was with Citi since 1996 
  • Former Member of Obama’s Jobs Council, from 2011 to February 2013 

Richard Parsons served on Citigroup's board since 1996 and as chairman since 2009 until he announced stepping down in March 2012. Parsons is also part of the multimillionaire club –– also the former CEO of Time Warner, and was listed on the "near misses" of Forbes' 2009 "The Wealthiest Black Americans" –– one of the five featured in my "Spreading the Wealth to Obama's Ultra-rich Jobs Council" series.

Known as a "moderate Republican," during the course of his Citigroup tenure, he took a left turn and gained a variety of important positions within the Obama administration. In 2008, Mr. Parsons served as a member of then President-elect Barack Obama's Economic Transition Team; in January 2009, he was on the short list for Obama's Commerce Secretary; and in 2011, Parsons was appointed to the president’s Job Council.




Louis Susman

  • Current US Ambassador to the United Kingdom, nominated by President Obama in May 2009, and confirmed by the Senate in July 2009 
  • Former Vice Chairman of Citigroup Corporate and Investment Banking, with Citigroup since 1998 but retired his high-ranking executive post in February 2009 
  • 2008 Obama Bundler

The retired Chicago investment banker Louis Susman served on Obama’s 2008 National Finance Committee, and the staunch Democratic donor and fundraiser that he was; he turned out to be a top 2008 bundler that raised so much money for Obama that he got a nickname “the Vacuum Cleaner." Obama showed his appreciation and made him ambassador to Great Britain. At the time of his nomination, Susman retired in February 2009 as Vice Chairman of Citigroup Corporate and Investment Banking.

NOTE: Michael Schell, New York, Citigroup Global Markets was also a 2008 Obama bundler.

Larry Summers

  • Former Director of President Obama's National Economic Council, from 2009 to 2011 
  • Former Secretary of the Treasury of the United States, from 1999 to 2001 under President Bill Clinton 

Although Summers is not a Citi executive, it's worth noting that back in the day (November 2008), President-elect Barack Obama rolled out his National Economic Council (NEC), and installed economic czar Summers (not subject to pesky confirmation hearings), who had served as Rubin's protégé at Treasury.

A month later, December 2008 –– recently exposed via a 57-page, “Sensitive & Confidential” memo written by economist Larry Summers to Obama writes, "The short-run economic imperative was to identify as many campaign promises or high priority items that would spend out quickly and be inherently temporary. … The stimulus package is a key tool for advancing clean energy goals and fulfilling a number of campaign commitments." In essence, the 2009-Recovery act was about implementing the Obama agenda, not about economic recovery or creating jobs.

NOTE: See "11 stunning revelations from Larry Summers’ secret economics memo to Barack Obama" by the American Enterprise Institute for complete story.

According to the Wall Street Journal, "The NEC, created by Bill Clinton in 1993, coordinates economic policy between the Treasury, Labor, Housing and Urban Development and Health and Human Services Departments, as well as independent agencies such as the Federal Deposit Insurance Corp."

It turns out that the NEC's first director, Robert Rubin, who later became Treasury secretary, built the post into a power center. But under the Bush White House, its authority has waned." But Obama intended to re-instate its power, and "ensure the NEC is returned to its place as the clearing house for policy ideas and initiatives," and stacked it full members that made a small fortune on Wall Street, who had "absolutely zero interest in reforming the gamed system that made them rich in the first place."

What better place for Summers then to be surrounded by his Wall Street buddies.

If you've read my work, you may have caught my Big Wind story where I had outlined the high-powered political ties behind First Wind that received millions of federal loans and grants from the green initiatives placed in the 2009-Recovery Act.

Starting with D.E. Shaw & Co, a New York-based investment firm –– "a $39 Billion Hedge Fund Giant" (also a First Solar investor), which so happens to be one of the three top contributors to Democrats –– is a backer of First Wind Holdings Inc. Its founder David Shaw, is a two-time Obama bundler, who employed Larry Summers, and before heading to the Obama White House, as the top economic advisor, "Lawrence Summers received about $5.2 million over the past year in compensation from hedge fund D.E. Shaw,” as revealed by the Wall Street Journal, noting his "frequent appearances before Wall Street firms including J.P. Morgan, Citigroup, Goldman Sachs and Lehman Brothers." Towards the end of 2011, Summers left the Obama administration and rejoined the firm as a consultant.

This is the same Summers that in 2009, along with freshly elected Obama, who lashed out at Wall Street, calling bankers "fat cats" who don't get it, also slammed Wall Street. "Here is what I think they don't get...It was their irresponsible risk-taking in many cases that brought the economy to collapse," Mr. Summers, said on CNN's "State of the Union."

Following the Money: "Green" Citi 

In 2010, Citigroup had announced that it was "well ahead of its 2007 goal to direct $50 billion towards climate change related activities over 10 years." At that time, "the company's portfolio of climate-related activities was valued at over $24.3 billion, including 2009 commitments totaling $5.11 billion."

By 2011, through their "$50 Billion Climate Change Investment Initiative" Cit had "directed $36.35 billion into such initiatives so far..." As suspected, "In the U.S., Citi has the largest market share (28 percent) of U.S. Department of energy section 1703/1705 Loan Guarantee program financings for Alternative energy, and we are the leader in such bond transactions. Our Alternative energy practice completed the largest alternative energy finance deal of 2011, for the $2.3 billion Desert sunlight project in California." That's code for Citi is making huge amounts of money from the energy sector of the 2009 Obama stimulus-spending spree. 

 

The Department of Energy (DOE) Loan Guarantee Program (LGP) has become by expertise, and it's worth repeating that it consists of three separate programs, Section 1703Section 1705, and Advanced Technology Vehicles Manufacturing (ATVM), whereas since 2009, the DOE has guaranteed $34.7 billion of taxpayer money.

Considering the fact that the 1705 programs was created by the 2009-Recovery Act, a small slice of the trillion-dollar Obama spending spree, of which over $90 billion was earmarked for clean energy, I began unraveling this piece last April. Through just the 1705 alone, $16 billion was doled out to 26 projects, of which 22 were rated as "junk bond" status. As of the end of 2012, three have gone bust while at least four are in trouble –– yet over 50 that snagged "green" stimulus funds are on my 2012 Green Energy Failure List.

By intensely tracking these loans since 2009, and careful analysis of the House Oversight March 20, 2012 investigation (The Department of Energy’s Disastrous Management of Loan Guarantee Programs), we can confirm that at least 90 percent are politically connected to the president and other high-ranking Democrats –– in many cases, to both. Thus far of the 26 projects, Marita Noon (energy columnist at Townhall.com) and I have chronicled nineteen green-energy, crony-corruption stories from the DOE's junk bond portfolio –– with nine to go.

Then we found the smoking gun –– a set of leaked DOE emails, which we've been exposing since they were unleashed by the House Oversight Committee on October 31, 2012 –– a report of “over 150 emails that contradict statements by the President, Secretary Chu, the White House and DOE officials.”

More shocking is that if you dig into these emails –– memorandum as well as Appendix I and the 350+ page Appendix II –– they reveal a series of questionable practices, including coercion, cronyism and, cover-ups, of which Marita and I were one of the few that covered this bombshell scandal on Nov 01, 2012, "Emails Catch White House Lie on Green-Energy Loans."

But let's get back to Citi...

According to a March 19, 2012 Renewable Energy Seminar in Washington DC, Michael Eckhart, Managing Director of Global Head of Environmental Finance & Sustainability of Citigroup was proud to announce, “Citi has been a leader in alternative energy transactions across sectors, geographies and products.”

As if this story isn't corrupt enough –– enter Mr. Eckhart, who joined Citigroup as Managing Director in February 2011, after spending the last decade as the founding President and a member of the Board of Directors of the American Council on Renewable Energy (ACORE). Now ACORE is where we find many of government green winners, and worse they are a "green" lobbyist powerhouse –– a band of Music Man businesses and deep-pocketed backers, of which PJMedia had alerted to 2011, whereas "Eckhart and the ACORE membership also helped design the Department of Energy grant programs...”

Interesting enough, I had already been aware of, and wrote about SolarReserve, SolarCity and Alta Wind, yet I found Citi’s green stash –– an alternative energy portfolio that lists about 37 transactions (plus SolarReserve = 38) foreign and here in the United States. Citi's roles range from investor, advisor, arranger, to joint bookrunner, and so on –– and in some case a multitude of these.

While Citi is proud of their being the "largest market share (28 percent) of the DOE energy 1703/1705 Loan Guarantee program financings," there is much more. After careful analysis of this year-old green investment documentation, I found that 58 percent of their "clients" have received government subsidies, the majority from the 2009-Recovery Act, totaling approximately $16 billion of taxpayer money. 

We can confirm that of the 22 transactions, sixteen (at least $8 billion) is where Citi was actively involved in securing the 1703/1705 DOE loans; was a direct investor; and/or served as an underwriter for their initial public offering (IPO) –– by the way, bookrunners, who sell the IPO shares to institutions, do the majority of the work and collect the largest % of fees.

Look for the asterisks *, but no matter how you slice it, Citi has an invested interest in the success of these companies/projects, and they are cashing in at the GREEN Bank of Obama. 

Click here to continue and get all the dirty details of Citi's 'green' transactions @ Green Corruption blog...

Read more…

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Photo From Penny Pritzker News 

Penny Pritzker, left, with former Federal Reserve
Chairman Paul Volcker, center, and President Barack
Obama, right, at a May 20, 2009 meeting of the
Economic Recovery Advisory Board

 

President Obama’s Jobs Council Down: Five Raked in Billions of Green Stimulus Funds, Including Billionaire Penny Pritzker 

If you haven't heard the latest on the jobs front, just two years and four meetings later, President Obama closed down his Jobs Council last Thursday. A day later, unemployment "ticked up to 7.9 percent, and remains higher than it was when Obama took office and has consistently been higher than the 7 percent mark the White House promised it would not cross if Congress passed the so-called stimulus package taken up during the president's first months in office,” reports U.S. News & World Report.

 

“Obama is reportedly irked by the fact that the jobs council has recommended lifting regulations rather than creating new ones. Since the American people obviously did not hold Obama accountable for his economic failures as president, he is now going to focus on other issues: climate change, gun control, abortion, and immigration,” writes Breibart News.

 

Since its creation, the members have pushed for renewable energy subsidies. In October 2011, these Obama advisors issued a report calling for among other things, “a new federal financing program to attract private investment for clean energy projects via loan guarantees and other tools.” This request is on top of the $80 billion of "green earmarks" that has been flowing out of the 2009-Recovery Act as well as other agencies fueling clean energy projects like the Department of Energy (DOE), Environmental Protection Agency (EPA), United States Department of Agriculture (USDA), etc. Furthermore, the Obama administration fires up new climate legislation and mandates, which benefits special interest groups while adversely affecting American families.

 

So we say goodbye to Obama’s Jobs Council –– a panel full of "deep-pocket Democratic donors and high-profile financiers" of Obama’s 2008 and 2012 campaigns, noted ABC News in 2011. Meanwhile several were Obama campaign bundlers and it included its share of union representatives like AFL-CIO’s left-wing "elitist" Richard Trumka.

 

During its February 2011 implementation, The Wall Street Journal pointed out, "The group is long on White House regulars, golf partners and meal guests." A jobs panel by the way –– those that have been advising the president on how to create jobs and grow the economy, of which many were recruited from President Obama's February 2009 Economic Recovery Advisory Board (PERAB) enacted by an "executive order" –– whereas the majority are known for “job outsourcing.

 

If you’ve been following any of my Green Corruption stories, since December I’ve been unraveling a new series "Spreading the Wealth to Obama's Ultra-Rich Jobs Council," exposing the five panel members that have received billions of “green” funds, the majority coming from the 2009-Recovery Act. So far I’ve covered Jeffrey Immelt, John Doerr, Lewis Hay, and today I will tackle the Hyatt heiress that raised more than $900,000 for Obama's two campaigns –– billionaire Penny Pritzker, also "rumored for Commerce Job" –– although recent reports show it could soon become a reality.

 

 

Obama’s Last Commerce Secretary

This is the same position that was held by John Bryson –– entangled in a huge piece of this Green Corruption scandal –– who was BrightSource Energy’s chairman of the board prior to his appointment as Secretary of Commerce with the Obama White House in May 2011. Although Bryson resigned in June 2012 following some mysterious auto accidents, his and the current BrightSource CEO John Woolard's political influence was no mishap.

 

Bryson has ties to the left-wing organization the Apollo Alliance as well as the politically powerful billionaire George Soros –– both helped craft the stimulus package, a trillion-dollar influx of taxpayer cash that eventually bailed out BrightSource. The firm was part of an intense push in 2011 that involved meaningful Democrat connections –– donors, investors, and stakeholders –– and correspondences with President Obama as well as the White House and Department of Energy Officials.

 

Throw in the fact that BrightSource has an array of investors that happen to be high-powered Obama donors like Goldman Sachs, Google, BP Alternative Energy, and VantagePoint Capital. Add in Bernie Toon, who served then-Senator Joe Biden as his Chief of Staff, who became a lobbyist for BrightSource Energy on March 6, 2011, and you’ve got yourself a recipe for guaranteed success. And it doesn’t hurt that many of the parties involved frequented the White House during the DOE loan review process.

 

Despite the fact that BrightSource was one of 22 (out of 26) projects from the 1705 loan guaranteed program –– created under the 2009-Recovery Act –– which were rated as "junk bond" status, that didn’t sway the DOE in the least. Because on April 11, 2011, the DOE announced the finalization of $1.6 billion in loan guarantees for BrightSource’s Ivanpah project, which created a whopping 1000 construction and 86 permanent jobs. These were projects that were funded by the DOE with  $16 billion of taxpayer money, of which we can confirm that over 90 percent are politically connected to the president and other high-ranking Democrats –– some both.

 

However, the BrightSource push started as early as September 2009, as reflected in the House Oversight leaked emails that were unleashed late October 2012 –– a treasure trove of "inside DOE Intel" –– which not only confirms the above shady scenario, it implicates more BrightSource executives and stakeholders, DOE officials as well as Obama’s Green Team and several in Congress from the Democrat side.

 

In the 350+ page Appendix II, I found ongoing interaction and pressure from the heavy weight K Street firm McBee Strategic Consulting, which substantiates Timothy Carney's (the Examiner) statement, “K Street is the epicenter of this green-industrial complex, and ground zero might be the firm founded by Democratic revolving-door earmark lobbyist Steve McBee.” Carney goes on with an interesting discovery; McBee ­­[a cap-and-trade pusher] “reportedly wrote key provisions in the stimulus bill to open the spigot of green corporate welfare.”

 

The “BrightSource Billion Dollar Shady DOE Deal,” which also received special treatment by the Department ofInterior (part of our “Special Seven Series” last summer), plot thickens because along with Google and BrightSource, “NRG is the lead investor (sometime in October 2010 during the time of their DOE loan process) of the 392 MW Ivanpah project currently being developed in southeastern California's Mojave Desert.”

 

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The NRG piece to this green deal was underreported, as was the fact that NRG Energy Inc. (BrightSource) is "the number one  recipient of most the 1705 loans."  If you’re not aware, NRG is connected to George Soros, an Obama donor and 2009-Recovery Act advisor, who "in the first quarter of 2009, went on a stock buying spree in companies that ultimately benefited from the federal stimulus," including NRG Energy –– a huge revelation featured in Peter Schweizer's blockbuster 2011 release that rocked the Washington establishment, Throw Them All Out, which I touched upon last May when NRG Energy landed on the DOE Cronyism Hot Seat. More damaging details in the works, but I digress…

 

 

Billionaire Penny Pritzker

Penny Pritzker, an heir to the Hyatt Hotel and Pritzker family fortune, was a key fundraiser for Barack Obama's presidential run in 2008. She’s the CEO of PSP Capital Partners and Pritzker Realty Group, and ranked in Forbes 400 list among the wealthiest in America. Also from the PERAB, Pritzker was one of the “elect members” of the president's Jobs Council, whom wears many liberal hats, including many prominent positions like the 2008 National Finance Chair of the Barack Obama for President campaign and co-chair of the 2009 Presidential Inaugural Committee, yet played a less significant role in Obama’s 2012 reelection.

 

Ms. Pritzker is related to the Telsa Motors $465 million loan and its 1500 jobs via the fact that –– besides Obama bundlers, big donors, and DOE insiders –– another Tesla investor is another billionaire Nicholas J. Pritzker, partner at Tao Ventures and senior development advisor for Hyatt Hotels Corp, also a donor to Obama and a cousin of Penny Pritzker –– both from Chicago.

 

Created under Section 136 of the Energy Independence and Security Act of 2007, the Advanced Technology Vehicles Manufacturing program (ATVM) –– not part of the 2009-Recovery Act –– holds authority to award up to $25 billion in direct loans, however, thus far the Obama administration has approved five loans worth $8.4 billion of taxpayer money.

 

In 2011, IWatch took notice into the DOE's "risky $1 billion bet on two politically-connected electric car builders," stating, “To date (2011), records show, more than 95 percent of applicants are still awaiting approval or have been rejected.” And that “both companies have political heavyweights behind them.”

 

This was a story had alluded to in 2010 and elaborated on in November 2012 –– “Cruising Down the Green Cronyism Road,” where I tracked the $8.4 billion of ATVM money to the "favored five." At that time, Marita Noon, energy columnist at Townhall.com  –– my cohort in exposing this massive Green Corruption scandal  –– and I were given an exclusive regarding XP Technologies, an ATVM applicant, which filed a lawsuit against the federal government citing “corruption and negligence.” Three have direct ties to the president: Telsa as well as Fisker Auto, which is an investment of another Jobs Council member, John Doerr (you can find my full report that I released a few weeks ago, “Bank of Obama: John Doerr and Al Gore of Kleiner Perkins, the Mother of All Green Energy Stimulus Money Winners.”)

 

The one that slipped through the cracks is the $50 million ATVM loan that went to Vehicle Production Group and is part of the “Beacon Bust Tied to Obama Bundler and VP Hunter, the Infamous Washington Fixture, James A. Johnson” narrative that I shared last summer. Meanwhile the other two, Ford Motor Co. and Nissan, were heavily engaged in negotiations with the Obama administration over fuel economy standards for model years 2012- 2016 at the time DOE was considering their applications."



The Telsa Tale

Weeks to go before the 2012 election, “the DOE restructured its $465 million loan to the electric-car company to make sure it didn’t run out of cash,” reported the National Review Online. And toward the end of 2012, things were looking bad for Telsa, “Given the ugly state of Tesla’s finances — and the company’s sky-high valuation: almost $4 billion — it will rank among the top candidates in Silicon Valley for a 2013 stock collapse, unless it receives significantly more cash next year,” says The Wall Street JournalMarket Watch. Thus Telsa made it on my 2012 Green Energy Failure Alert List (total at 52), and we'll keep watch to see where Telsa lands.

 

While Pritzker’s connection appears to be minute, the "Telsa Tale" is gigantic with an array of Democrat cronies, including big Venture Capitalists with close White House ties and a few former and current DOE Insiders.

 

Tesla’s founder and CEO, billionaire Elon Musk, "is a hearty political contributor who has primarily backed Democrats, including Obama." Musk has other companies that raked in millions of “green” tax dollars, and last December one of them became part of a trio of solar companies that are “under investigation for potentially inflating costs in order to draw down more money from a stimulus-funded loan program –– all three boast investors with significant ties to the Obama White House,” as reported by Lachlan Markay on the Heritage’s Foundry.

 

The one relevant to this Green Corruption account is SolarCity, of which Mr. Nick Pritzker is also an investor, and we’ll get to them in a bit.

 

Meanwhile Steve Spinner, former DOE Loan Programs Advisor (from April 2009 to September 2011) –– known for his role in the Solyndra saga, who made a special DNC 2012 cameo –– is a two-time Obama bundler, and was an advisor to Telsa before he joined the Obama camp. In the mix we find Steve Westly, former Telsa Board member, the Founder and Managing Partner of The Westly Group, a DOE Insider, and another Obama crony who made a DNC cameo. Tesla Motors prime backers also include a major fundraiser for Obama; Google co-founders Larry Page and Sergey Brin are two more investors that pumped money into Tesla Motors. Later, Goldman Sachs, the number two 2008 Obama donor, with their DNA all over "green," handled the Tesla Motors IPO.

 

But in my “Bank of Obama” piece I laid out quite a few Venture Capitalists tied to Kleiner Perkins that snagged a string of loans, grants and special tax breaks for their clean energy investments –– noting how large percentage of portfolios won big green money. All have direct connections to President Obama in the form of bundlers, donors and special buddies, and two have also invested in Telsa; The Westly Group and Vantage Point Capital Partners.

 

However, the bigger story may not be found in a green car, but in solar panels…

 

The SolarCity Story

As I stated earlier, the same Telsa investors, Mr. Musk and Mr. Pritzker are also investors in SolarCity, while Elon Musk is the chairman of the board, and recently purchased a 20,000-square-foot estate in Bel Air for $17 million.

 

As reported by the Washington Post mid December, “SolarCitySunRun and Sungevity have received subpoenas from the Treasury Department’s office of inspector general for financial records to justify more than $500 million in federal grants and tax credits the firms tapped for performing work. The probe seeks to determine whether the companies accurately reported the market value of their costs when applying for federal reimbursement, which was calculated at one-third of the costs” –– a probe that started for SolarCity sometime in July 2012, and was confirmed via the filing of their initial public offering (IPO) in October 2012, of which "Goldman Sachs Group Inc., Credit Suisse Group AG and Bank of America Corp. led SolarCity’s IPO."

 

According to Fox News, “Together, the three companies reportedly have claimed more than $500 million in taxpayer support,” while SolarCity has applied for $341 million in grants. This was from the same program that I had written extensively about in my Big Wind story a few weeks ago, another green government cash freebie blowing out of the stimulus package. The 1603 Renewable Energy Grant Program –– a relative of the Production Tax Credit (PTC), and to date, the Treasury Department has doled out $16 billion, where approximately one-quarter has been shipped to foreign corporations, meanwhile the rest is fueling corporate welfare here in the United States as well as the egregious practice of crony capitalism running rampant in this administration.

 

What's not widely known is that SolarCity was a DOE loan applicant, seeking $275 million, and made it through the first phase. However, in the end (September 2011), it was rejected –– SolarCity said "The [Solyndra] scrutiny prompted the agency to request additional information," and apparently they couldn't get it done in time.

 

Ironically a month earlier (August 2011), this loan was a GO...

Inside the 10/31/12 House Oversight emails that I briefly highlighted when I touched upon BrightSource's billion-dollar DOE deal, in the 350+ page Appendix II we find a few email interactions in August 2011 regarding the SolarCity transaction.

  • Jonathan Silver, former Executive Director of the Loans Programs Office at the Department of Energy (from 2009, and resigned in early October 2011)
  • Peter O'Rourke: Senior Advisor to the Executive Director Loan Programs Office U.S. Department of Energy

O'Rourke writes to Silver –– subject: strong; dated August 2, 2011 –– "Matt said that Strong will not be eligible for 1703, per the WH and Poneman (Daniel B. Poneman is the Deputy Secretary of Energy since April 20, 2009)... this is going to be a disaster. They will delay so that we can't close by Sept 30, and it's not going to get 1703. I'm really uncomfortable with how this is being handled, from a reputation and other standpoints."

 

Two days later, O'Rourke writes again to Silver and cc's Matt Winters (Matthew Winters is the Department of Energy Policy Advisor) –– subject line: update –– "I've been told that the WH will call tomorrow and tell the DOE that Strong is a 'go' and should move as quickly as possible. Will believe it when see it."

That same day, Silver responds at 10:49PM, "Perhaps our additional efforts paid off. They can't hate us much more than they do. Its so much fun to end run them."

 

O'Rourke counters at 11:19 PM, "between you/Matt/s2 and SolarCity's major push, it was a very effective." NOTE: If S1 = Secretary Chu, then I'm assuming S2 = Poneman


The "Strong" referenced here is SolarCity's "Project SolarStrong™ –– "a plan to provide solar power to up to 120,000 military housing units, and create up to 300 megawatts of solar generation capacity." However, in November 2011, "Armed with the documentation and rationale for this project, SolarCity found a willing partner in Bank of America for $350 million" (Bank of America/Merrill Lynch were both on the 2008 Obama Top Donors list).  The bailed out bank –– bogus bonuses and all, Bank of America is "the second biggest recipient of federal assistance, which racked up $336.1 billion in federal help," recently revealed by CNBC. However, what most don't know is that Bank of America also has quite a few "green" project winners in their vault as well, of which I had alluded to in May 2012, but there is much more to tell.

 

While SolarCity's $275 million DOE deal fell apart due to the 2011 Solyndra "red flags," we do know that as of December 2012, "SolarCity currently benefits from tax credits totaling as much as 30 percent of the cost of these systems," notes Bloomberg. Moreover, as documented, SolarCity has applied for $341 million in grants, but I found 27 1603 grants for "USB SolarCity Master Tenant," which ranges over 15 states, totaling over $88 million. With this type of tally, it's difficult to say exactly how much tax-free cash SolarCity has received or will be given in the future.

 

Prior to entering the federal probe spotlight, SolarCity had already lined up hundreds of millions in solar funds from investors and various partnerships, which are big players in this green-energy scheme. Besides Bank of America's November 2011 entry, and sometime before July 2010, former vice president and future first "carbon billionaire" Al Gore's firm Generation Investment Management LLP became part of the SolarCity family.

 

Later, in February 2011, Citi "jumped solidly into the residential solar installation market by agreeing to back $40 million in solar installations by SolarCity." In between, SolarCity has developed partnerships with a few other stimulus winners like PG& EGoogle, San Jose's GreenWaste Recovery, and they even teamed up with Telsa (along with an $800,000 California grant).
Enter in another liberal billionaire bigwig to the list of SolarCity kin...

 

In February 2012, Silver Lake Kraftwerk and others invested $81 million into the California solar firm SolarCity, which is significant to this Green Corruption series. Silver Lake is the VC firm of billionaire liberal financier George Soros (mentioned earlier under NRG Energy) that "employs former Assistant Secretary for Energy Efficiency Cathy Zoi, who oversaw the disbursement of more than $30 billion in green energy stimulus funds in her Department of Energy post" at the Office of Energy Efficiency and Renewable Energy (EERE) –– a post which began in April 2009, and later she was briefly Acting Undersecretary for Energy, yet in March 2011, she jumped the DOE ship to work for Soros.

 

Zoi, an Al Gore acolyte, is reportedly on the shortlist to replace "$8 a gallon gas" Energy Secretary Stephen Chu –– a resignation that was publicly announced last Friday, yet rumors have emerged tagging a very disturbing list to replace Chu that would make your head spin. Besides Zoi, other Green Corruption villains floating around are Duke Energy CEO Jim Rogers, Center for American Progress President John Podesta, Lewis Hay of NextEra Energy, Kathleen McGinty, another protégé of of Al Gore, a director at NRG Energy, and so on.

 

While Zoi's time at the DOE was tainted with quite a few "conflicts of interest," there are at least a dozen current and former DOE Insiders that are affiliated with winners of green money, and I've exposed about half so far –– a huge piece of the Green Corruption scandal in the works. What’s relevant to our “jobs council” part is the fact that Citigroup is also a major SolarCity investor –– a Big Bank that was the #7 top Obama donor in 2008 and the fact that Obama is close buddies with quite a few former Citigroup executives.

 

Lachlan Markay notes, “Michael Froman, a close college friend of Obama’s, managed Citi’s alternative investment portfolio until he left for a top White House post in 2009. Froman was key to the President’s 2008 election effort, connecting him with major donors in New York’s financial industry. Froman also served on Obama’s 2008 transition team.” But we have another member of Obama’s expired jobs council to report on, Richard Dean "Dick" Parsons, Former Chairman of the Board of Citigroup, Inc. (from 2009 until he announced stepping down in March 2012).

 

Moreover, President Obama's choice to replace Timothy Geithner for Treasury Secretary has been quite amusing with Breitbart News recently pointing out the absurdity, “Jack Lew, a man who in 2009 bagged a $950,000 bonus after his bank, Citigroup, received billions in a taxpayer-funded bailout." And it looks like my calculations for Citi was way off, where in my opening of this series I had stated, “the "Too Big to Fail" Citigroup, a TARP recipient received $45 billion in government bailout funds.” But CNBC tells a different story, and recently announced them as the number one Big Bank to snag federal aid, “In total, Citigroup received $476.2 billion in cash and guarantees."

 

While President Obama decries the "fat cats," it’s obvious to any informed citizen, he’s full of “hot air,” not only by rewarding them for failure like Citi and Bank of America as well as his jobs council, the president is using clean energy as a means to payback his bundlers, mega-donors, and supporters. Doubling down on hypocrisy, “Obama, who long cast himself as an ardent opponent of big money in politics,” is when he unleashed his recycled political machine in mid January. " The president and his allies declared it would be powered by grassroots activists and change politics from outside Washington,” yet, “In its first days, Organizing for Action has closely affiliated itself with insider liberal organizations funded by mega-donors like George Soros and corporations such as Lockheed Martin, Citi and Duke Energy,” writes Politico.

 

In closing Part Four of "Spreading the Wealth to Obama's Ultra-Rich Jobs Council," we can confirm that Ms. Pritzker's –– via her cousin “Nick'" –– Green Tab is close to $1 billion for just two projects –– that we know of, and SolarCity is a confirmed stimulus winner. This is further evidence that this so-called jobs advisory panel has their hands in the green cookie jar, and the only commerce transpiring is for the wealthy that have friends and relatives in high places –– those with political access and influence.

 

Stay tuned for Part Five, the final installment, where we take a look at Richard Dean "Dick" Parsons, Former Chairman of the Board of Citigroup, Inc. (from 2009 until he announced stepping down in March 2012), who is also part of this multimillionaires club. Citigroup, like Goldman Sachs, was a top Obama donor, has close ties to the president, and holds key positions inside the White House –– has their DNA all over this green-energy scheme. I’ve tracked four large clean energy projects that have snagged huge amounts of stimulus funds, but in the meantime here is a recap of the Jobs Council's clean-energy dirt.

  • Part One: Job Czar Jeffrey Immelt –– 10/31/12 DOE Emails Prove White House Pressure on $1.3 Billion Loan to General Electric Wind Project / Green Tab: at least $3 Billion, the majority from stimulus funds 
  • Part Two: Bank of Obama: John Doerr and Al Gore of Kleiner Perkins, The Mother of All Green Energy Stimulus Money Winners / Green Tab: Tied to $10 Billion, the majority from stimulus funds 
  • Part Three: Lewis Hay CEO of NextEra Energy profiting off of various loans, grants and other energy subsidies –– Big Wind Energy Subsidies: A Hurricane of Carnage, Cronyism and Corruption / Stimulus Green Tab: at least $3 Billion 

 

One Woman (sometimes two), One Mission, One Green Corruption Piece of the Scandal at a time...

The Green Corruption Blogger

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Despite Harm to the Environment and the Economy, Fiscal Cliff Deal Fuels Continuing Corporate Welfare 4063656008?profile=original


The new year began with “fiscal cliff” midnight drama and fantasy, and the wind-production tax credit (PTC), despite its negative impact on our environment and economy, packaged as a job creator and measure to save the planet, made its way into H.R. 8, the American Taxpayer Relief Act of 2012 –– a piece of legislation that was hyped as for the American people, yet it included a number of key tax extender provisions for special interest groups. “Congress extended wind energy tax credits worth billions of dollars in the last-minute deal hammered out by Congress to avoid the fiscal cliff, a move decried by free market organizations as corporate welfare,” writes the Washington Free Beacon.

Crammed through in the dark of night behind closed doors –– where the Senate was given minutes to read the bill, and the House caved under White House threats –– and with support of many Republicans –– the looming and controversial (PTC) that many high-powered energy corporations have taken advantage of, rely heavily upon, and were fiercely lobbying for, was revived once again.

"The wind industry hired a team of heavyweight lobbyists with cozy connections to Capitol Hill and the Obama administration to ensure the survival of the tax credit, the Washington Examiner’sTimothy P. Carney reported," more specifically K Street firm McBee Strategic Consulting, of which I've found over and over in my green corruption research.

NOTE: “The Lucky Seven Stimulus Authors” are those that helped craft the 2009-Recovery Act and have financially benefited, of which I have already covered General Electric, John Doerr of Kleiner Perkins, Senator John Kerry, which I wrote about last week. I have given mention to billionaire George Soros as well as the left-wing organization the Apollo Alliance, with TJ Glautheir and McBee Strategic Consulting topping off my list. Full report soon to be released.

“Congress first enacted the wind energy PTC in 1992 and has renewed it seven times since,” even as part of the 2009-Recovery Act. The Institute for Energy Research counts the hidden realities of the PTC extension, noting that "The Joint Committee on Taxation estimates that the one year extension will cost American taxpayers over $12 billion." "But that figure doesn’t begin to represent the full cost of wind power,” including the detriment to ratepayers. And if Big Wind gets its way over "the next six years, then the PTC would cost over $50 billion."

Unknown to the American public is another green government freebie blowing out of the stimulus package. The 1603 Grant Program –– a relative of the PTC, which is part of President Obama’s trillion-dollar spending spree –– is administered by the Treasury Department, where billions in favored-businesses are given tax-free cash gifts. This program was also touted as a jobs creator (of course saved and supported), yet most of the so-called green job gains are temporary.

According to energy.gov, “The Section 1603 program was created under the American Recovery and Reinvestment Act to support the deployment of renewable energy resources. The 1603 program offered project developers the option to select a one-time cash payment in lieu of taking the Investment Tax Credit (ITC) or the Production Tax Credit (PTC), for which they would have otherwise been eligible.”

Last week, the Energy and Commerce Committee released an “in-depth report on its ongoing investigation into the implementation of President Obama’s green energy stimulus spending,” exposing a shocking detail; “foreign corporations have received approximately one-quarter of $16 billion spent on 'Section 1603' renewable energy stimulus program.”


The report, “American Taxpayer Investment, Foreign Corporation Benefit,” states that as of December 5, 2012, “nearly $16 billion in federal funds (ironically, the same amount as the Department of Energy’s 1705 risky loan portfolio) has been awarded under this program,” of which “approximately $10.8 billion (68%) of the total amount in Section 1603 grants awarded was for wind and another $3.8 billion (24%) was for solar projects.”

Furthermore, “President Obama’s FY 2013 Budget proposes extending the Section 1603 grant program for another year, to include property with a construction start date of 2012.”

What’s funny is that as I was preparing my Big Wind findings, at the end of December 2012 I had downloaded the 1603 awards spreadsheet, which records 8275 awards, totaling $15,964,130,442. Moreover, tucked neatly inside the fiscal cliff deal is where we find the 1603 again ––– now part of the two-month delay on sequestration. This means that there was no “immediate reduction in 1603 cash grants from the Department of Treasury. However, this 1603 reduction can still happen on March 1, 2013 if Congress does not enact another extension or strategy to avoid sequestration.”

Now we know President Obama's priority for his second term –– he's dead set on pushing a fierce and radical climate change agenda and funding green energy with taxpayer money, no matter the cost or consequences. So, we’ll anticipate March; follow the president’s budget; and watch for future requests for stimulus funds as well as earmarks tucked away in unread legislation coming down the green pipeline, but for now we'll go back in time to the president’s job council…


Lewis Hay Chairman and Chief Executive officer of NextEra Energy, Inc.: Part of President Obama’s Multi-millionaire, Billionaire Jobs Council Club  

Lewis “Lew” Hay, III is executive chairman of NextEra Energy, Inc., and it is estimated by Forbes, that CEO “Hay earns nearly $10 million in total compensation from NextEra.” Despite the fact that Hay was actually a “major political contributor to Sen. John McCain in 2008,” he quickly learned which side his power company could generate the title of the "Third Largest Recipient of DOE Risky Loans." Hay too joined wealthy Democratic donors on Obama’s Jobs Council in 2011, along with the other two I have tackled in this series, “Spreading the Wealth to Obama’s Ultra-Rich Job Council” –– Jobs Czar, Jeffrey Immelt CEO of General Electric has raked in $3 billion and counting, meanwhile John Doerr, along with his “climate buddy" Al Gore's, VC firm Kleiner Perkins is tied to at least $10 billion of stimulus funds. Both General Electric and Doerr were key contributors to what went into the 2009 Stimulus.

In my opening, I had stated that “NextEra Energy’s Green Money” was at least $2.3 billion, but that’s just from the Department of Energy’s (DOE) 1703 Loan Guarantee Program, of which I recorded in another green energy, crony corruption post last summer. We’ll revisit the DOE and Big Wind, but for now there is more you should know about NextEra…

NextEra Energy, Inc. is one of the oldest, third largest, and arguably one of the most solid power companies in the world, with “2011 revenues [that] totaled more than $15.3 billion.” And NextEra Energy Inc. has two primary subsidiaries: 

  • Florida Power & Light is the third largest electricity producer in the US, of which a September 2009 report states: “it's a political dynamo, making millions in political contributions and lobbying assiduously to achieve its goals."
  • NextEra Energy Resources is the largest generator of energy from sun and wind resources in North America. The company also has the third largest fleet (8) of nuclear powered electricity generating plants in the United States.


NextEra: Biggest User of the Wind Energy Production Tax Credit 

As a follower of NextEra, I found a fascinating analysis by John Fund of the National Review Online which states, “Begun 20 years ago to spur the construction of wind-energy facilities that could compete with conventional fossil-fuel power plants, the tax credit [PTC] gives wind an advantage over all other energy producers. But it has mostly benefited conventional nuclear and fossil-fuel-fired electricity producers. The biggest user of the tax credit is Florida-based NextEra Energy, the nation’s eighth-largest power producer. Through skillful manipulation of the credits, NextEra from 2005 to 2009 'paid just $88 million in taxes on earnings of nearly $7 billion,' Businessweek reports. That’s a tax rate of just 1.25 percent over that period, when the statutory rate is 35 percent.”


Wind Turbines Kill 440,000 Birds Each Year 

Moreover, Fund gives us an astonishing and heartbreaking look at the “carnage inflicted on Mother Nature," quoting Paul Driessen of the Washington Times, "The U.S. Fish and Wildlife Service estimates that wind turbines kill 440,000 bald and golden eagles, hawks, falcons, owls, cranes, egrets, geese, and other birds every year in the U.S., along with countless insect-eating bats.”

Sadly, Fund states, “The actual numbers are probably far higher. The turbine blades of the nation’s 39,000 windmills move at 100 to 200 miles per hour and can mow down anything that gets in their path.” “Over the past 25 years, turbines at Altamont Pass, Calif., alone, have killed an estimated 2,300 golden eagles leading to an 80 percent drop in the golden-eagle population of southern California.”

Ironically, when you read the fine print, as exposed by the Manhattan Institute, who calculated “The Real Costs to Taxpayers in Subsidizing Big Wind,” –– federal taxpayers (under former President Bush and now Obama), in effect, are subsidizing the killing of federally protected birds.”

Where are the environmentalists and Rachel Maddow screaming bloody murder? The chirps are light, and prosecution is non-existent because our “federal government looks the other way as wind farms kill birds, but haul oil and gas firms to court” –– all the while the Obama administration protects Big Bird at all costs.

But then again, Big Wind, to many like the Telegraph, is the most corrupt industry in the world –– “without the lies it tells as a matter of course and without the cosy stitch-ups it arranges with regulators and politicians at taxpayers' expense, it simply would not exist.”


Much more to this huge Big Wind story–– continue reading...

Here are the rest of the topics I've covered: 

  • Gone With the Wind: Wind Energy Grants Gone Overseas and to the Politically Connected, Including NextEra
  • NextEra: A Gust of other Stimulus Grants 
  • NextEra: Third Largest Power Company in the World is the Third Largest Recipient of Risky Loans 
  • A Twister of Sweetheart Deals Found in the Department of Energy’s Four Risky Wind Projects 

This was Part Three of "Spreading the Wealth to Obama's Ultra-Rich Job Council: The Green Five" 

Part One10/31/12 DOE Emails Prove White House Pressure on $1.3 Billion Loan to General Electric Wind Project

Part TwoBank of Obama: John Doerr and Al Gore of Kleiner Perkins, The Mother of All Green Energy Stimulus Money Winners

Stay tuned for the final installment where we take a look at Billionaire Penny Pritzker as well as Richard Dean "Dick" Parsons, Former Chairman of the Board of Citigroup, Inc –– both part of Obama’s Multi-millionaire, Billionaire Jobs Council Club.

 

Signing off for now, THE Green Corruption blogger...

 
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4063622086?profile=originalBenghazi isn’t the only White House cover up being exposed through leaked emails. State Department staffers aren’t the only career officials being blamed for President Obama’s inexperience, questionable judgment, and obvious cover up. A similar saga has just been exposed in the latest chapter of the green-energy crony-corruption scandal.

On October 30, The Daily Caller ran a feature titled: As many as fifty Obama backed green energy companies bankrupt or troubled. The piece cited the work Christine Lakatos and I did in our three-part “green-energy failures” series released in October. Immensely popular, the DC article was picked up by numerous sites, including Fox Nation and GOPUSA. That night, Newt Gingrich was on Fox News’ On the Record with Greta Van Sustren. After discussing the incriminating Benghazi emails, he pointed to another possible “October surprise.”

Gingrich teased: “The other big story, I think, that is going to break, is on corruption and extraordinary waste in the solar-power grants and direct involvement by the Obama White House, including the President, in the solar-panel grants involving billions of dollars, and I suspect that’s going to break Wednesday and Thursday of this week.”

His sources were dead on. The next day, Wednesday, October 31, at 1:30PM ET, we received a tip regarding the House Committee on Oversight and Government Reform’s release of more than 150 mails, equaling hundreds of pages of convicting evidence, accompanied by a five-page “Memorandum” with the following subject line: “Update on Committee’s Oversight of the DOE Loan Guarantee Program: New Emails Show President Obama, Senior Administration Officials Misled American People about Role of President and White House in Program.”

Through the research and writing we’ve done, Lakatos and I were confident that there was direct involvement, after all, of the 26 loans (of which the majority were "junk" rated) issued through just the 1705 Loan Guarantee Program to 21 firms, virtually all of them had meaningful political ties (bundlers, donors, supporters, etc.,) to the White House and other high-ranking Democrats. Despite the obvious connection, President Obama has repeatedly denied any involvement. As it has done with Benghazi-gate, the White House, this time through Senior Advisor David Plouffe, while on Meet the Press (October 30, 2011), shuns responsibility for something politically uncomfortable: “decisions about the loan program were made by career officials in the Department of Energy on the merits.”

steven-chu-solyndra.gi.top.jpg

Likewise, Secretary of Energy Steven Chu, while testifying before the House Energy and Commerce Committee in November of 2011, stuck to the talking points when, referencing the Solyndra debacle, under oath, he said: “I am aware of no communication from the White House to the Department of Energy saying to make the loan or to restructure.” More recently, March 2012, before the House Oversight Committee, Chu claimed: “we looked at the loans on their own merits.” At that same hearing, Rep. Jim Jordan (R-OH), pressed Secretary Chu on nine of the firms that received loans, revealing their political connections. Chu countered that the loans were based on “merit.” Yet Jordan was perplexed, “so if you weren’t helping your buddies, and you were basing your decisions on the merits of the loan, how do you explain the fact that 23 of 27 recipients of the loan guarantees were rated as junk status investments?” Jordan concluded, “If it wasn’t your political buddies, it had to be incompetence.”

Also under oath, in the July 18, 2012, Oversight Hearing specifically addressing Abound Solar (now bankrupt and under investigation for securities fraud, consumer fraud and financial misrepresentation), former Executive Director of the Loan Program Office (LPO), Jonathan Silver stated, “Because I am no longer at the department, I do not have access to the analysis done for the Abound project. As a result, I cannot comment in detail about the transaction, but what I can do however, is give you a flavor for what we try to do on this, and every project… The loan would have gone through multiple reviews independent of the loan program’s office, including detailed reviews by career credit professionals at DOE, and career staff at OMB, Treasury, and the National Economic Council.”

Silver then emphatically informed the Committee, “This loan––like all the loans underwritten by career professionals, supported by outside specialists –– it was reviewed by career professionals from multiple executive branch offices.” “It was not rushed, the review took place over several years.” “It was not given to friends –– indeed no one in the Loan Program had any idea what individuals were involved in this [Abound] or any other transaction, nor did we care.” The questioning continued. Silver was asked if he saw any evidence of pay-to-play during his tenure. Silver’s response: “None whatsoever, sir—as I say, almost nobody that I am aware of in the Loan Program even knew who the individuals were who had invested, either directly or indirectly, into these companies.”

During the October 11 Vice Presidential debate, when Paul Ryan challenged him on the oversight of the “$90 billion in green pork to campaign contributors,” Vice President Biden sang the same tune: “His colleague runs an investigative committee, spent months and months and months going into this. Months and months. They found no evidence of cronyism.”

Just last week, October 26, 2012, President Obama continued the ruse, when he told a Denver, Colorado news anchor that decisions made in the loan program office are “decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.”

Clearly the stories were coordinated, and were contrary to the obvious conclusions a thinking person would draw—which prompted the Oversight Committee to probe further. However, until the leaked emails were made public on Thursday, we had no proof. We needed the smoking gun.

The tale-tellers, at the least, “misled the American people,” behaved unethically, and may well be guilty of perjury.

Steven Chu, Secretary of Energy

The emails revealed that Secretary Chu may well have perjured himself—though as Jordan implied, he may just be incompetent. We’ve written extensively on the interaction of decision-makers in the Administration and its “buddies.” In the March 2012 hearing, Jordan asked specifically: “Did the White House call you about, talk to you about any of these…did someone from the White House talk to you, the Chief of Staff, someone from the White House, talk to you about these respective companies, involving these individuals?”

Our research shows involvement of then-White House Chief of Staff Bill Daley in the BrightSource loan—one of the projects Jordan was asking about.

The new emails show Chu personally issued orders to prioritize a project favored by House Majority Leader Steny Hoyer—Unistar.

Email #13 shows that Silver wrote to Chu’s Chief of Staff in a December 10, 2010, email: “since Aldy [White House staff Joe Aldy] personally promised the edf management group [one of the sponsors of the Unistar loan guarantee project] that he would lead an interagency review of this topic, we should tell him that he should be the one to call and deliver the news.”

Email #14: “there has been a commitment from S1 [Secretary Chu] to Steny Hoyer on this.”

Email #15: “Just came down from the Secretary’s office. He is adamant that this transaction is going to OMB by the end of the day.”


LPO Credit Advisor Jim McCrea (possibly the source of this massive email leak, as his name is one of the most consistent in the email text), had hesitation about the project, stating in Email #16: “Ordinarily, over an issue like this, I would refuse to sign the credit paper and refuse to send it to OMB tomorrow but given the direct order I was personally given by S1[Secretary Chu]…”

Didn’t someone say the loans were not politically motivated and were based solely on merit? Oh, yes, it was the President who said: “they have nothing to do with politics.”

 
jonathansilver-cropped-proto-custom_28.jpg

Jonathan Silver, Former Executive Director of the Loan Program Office

Silver (reported to be an Obama bundler and Democratic donor) resigned in early October 2011, amidst the Solyndra scandal. His claim that loan reviews took place over “several years” and that loans were not “given to friends” is perjurious.

First, the loans couldn’t have been reviewed over “several years.” Obama wasn’t President until January 2009. The Stimulus funds were made available in February 2009. And, the Solyndra $528 million loan guarantee (September 2009) was the Obama administration’s first, as part of the 2009 stimulus package. Solyndra was also the first company to go bankrupt in September 2011. Clearly, there was no “several years” in there.

While logic and simple math tell us that the loans were not reviewed over “several years,” the emails prove the rushed process. In the 350+ page Appendix II, the very first email is from McCrea to Silver (dated June 15, 2010)—subject line: 28 day clock. In it he complains about things being rushed. He opens with “I do not have a good sense of why the DOE and OMB agreed to a 28 day clock following Solyndra...” Though by the end of the page-long email, McCrea seems to concede: “I am not sure that the 28 day process is really as much of a constraint as it might appear at first glance.”

Again, we covered Silver’s involvement with many key players including John Woolard, CEO of BrightSource Energy. Silver is very well connected, having served in the Clinton Administration, he parties with Al Gore, was a frequent White House visitor and participated in meetings with Chief of Staff Bill Daley. Silver used his personal email account to conduct DOE business. But there is no hard proof there.
  
The following eight paragraphs is a revision from our original post with additional information

Also found in Appendix II, early on (December 2009), way before the DOE finalized the $1.6 billion loan guarantee for BrightSource Energy (April 2011), we find that there was a strong push by Silver and others  inside and close to the energy department in getting this loan approved . 

 

We find a very suspicious email exchange about BrightSource that included CEO Woolard, Joshua Bar-Lev, Vice President, Regulatory Affairs for BrightSource, and the lobbying firm representing BrightSource, McBee Strategic Consulting  –– as well as some unknown "energy-Democrat-tied participants": 

We discovered that in 2009, Steve McBee alerted the masses with the following...

 "Wanted to let you know that the BrightSource application appears to moving apace at OMB and has a fighting chance of getting over to DOE..." "DOE is another story. We are hearing that despite a strong push by Silver, Spinner, Rogers and others internally, the process is getting sideways by any number of bureaucratic hold ups and there is now real potential for consideration of the project to slip until next year...[or"redeployed to China]" "ANYTHING you guys would be willing to do with DOE in terms of moving the process would be deeply appreciated."
Joshua Bar-Lev in response says, "Do you all think we should have vantage point insist on mtg with chu or silver or rodgers? Should John and I try to fly out for something similar? Looking for some game changer but perhaps we’ve done all we could. Is dc shut down by the snow or is there some impact we could make? Joshua"


NOTE: We've covered Silver, Steve Spinner and Matt Rogers (all former DOE advisors) in previous posts, as well as Silver's "shady email practices." The “DOE Insiders," where plenty of “VC Guys” and “Gore Acolytes” held key positions –– a dozen on my radar, where at least a dozen on the "green corruption" radar, including these three. 

Time out for a minute...as noted during Silver's testimony this past July, he made this denial: “...as I say, almost nobody that I am aware of in the Loan Program even knew who the individuals were who had invested, either directly or indirectly into these companies.” 

So the question remains, if Silver nor anyone else knew, why would anyone seek help from Vantage Point? Who knows? But what we do know is that Vantage Point Partners is the majority stakeholder in BrightSource, and Sanjay Wagle was a principle. Wagle just so happens to be the “renewable energy grants adviser” at the DOE under Secretary Chu.

While we know that Silver had cozy relationships with quite a few of those seeking green-energy funding (like Al Gore and Woolard), the following emails confirm that lobbying the White House and the Vice President’s office achieves results, not only with getting a loan approved, but clearing obstacles with the Department of Interior (DOI) that put their entire billion-dollar project at risk.

Email #5, drafted by Bright Source CEO John Woolard for then-Board Chairman John Bryson to send to then-White House Chief of Staff Bill Daley: “This project is now at significant risk due to delays in permitting at the Department of Interior…”

Email #6, from Wollard stated: “we are making good progress in DC. Whitehouse [sic] does seem to be very focused on this issue, in fact it is being elevated through the office of political affairs as well as VP Bidens- so we are starting to get them focused on the massive political risk- it helps that Bloomberg called Ivanpah ‘Obama’s energy project’ so it does have their attention.”

Email #7, two weeks later, BrightSource got what it wanted: “The U.S. Fish and Wildlife Service issued their revised Biological Opinion, prompting the Bureau of Land Management to issue a new notice to proceed allowing continued construction at Ivanpah units 2 and 3.”

The BrightSource case reeks of political connections, yet we are supposed to believe the loans “had nothing to do with politics.”

Joe Biden, Vice President

Biden’s denial comes from his one debate of this campaign season, about which Diana Furchtgott-Roth writes for Real Clear Markets: “In Thursday's vice presidential debate, Joe Biden denied any ‘cronyism’ in the award of Energy Department grants and loan guarantees to encourage the development of renewable energy. Plus, he asserted that government-assisted green energy projects had a better ‘batting average’ than do projects backed by investment bankers. Just one problem: Neither of Biden's assertions was true. Plus, the Vice President himself had a role in the cronyism.”

Email #6, proves her point: “…It is being elevated through the office of political affairs as well as VP Bidens…”
Then there is Email #4: “Pressure is on real heavy on SF [Shepherds Flat] due to interest from VP.” Additionally, as we addressed, though not revealed in the emails, Bernie Toon, who served then-Senator Biden as his Chief of Staff, became a lobbyist for BrightSource Energy.


The White House and President Barack Obama

President Obama did keep himself somewhat isolated—having made fewer denials and being involved in fewer emails, however, he cannot be omitted from the discussion, as he was clearly party to the loan approvals. Plus, the emails show that DOE officials were pressured by the political interests at stake.

Email #1, from McCrea to Silver: “I am growing increasingly worried about a fast track process imposed on us at the POTUS level based on this chaotic process that we are undergoing…by designing the fast track process and having it approved at the POTUS level (which is an absolute waste of his time!) it legitimizes every element and it becomes embedded like the 55% recovery rate which also was imposed by POTUS.”
Email #2, from David Schmitzer, DOE LPO Director of Loan Origination to McCrea: “Jonathan just said at our staff meeting that, opposite the message received on Thursday, AREVA is now a ‘go” (seems on Friday POTUS himself approved moving it ahead).”
Email #3, from Silver to McCrea, encouraging him to remind a Treasury official of White House interest in now bankrupt Abound Solar: “You better let him know that WH wants to move Abound forward. Policy will have to wait unless they have a specific policy problem with abound.”


Despite Obama’s claim that the decisions regarding the loans had “nothing to do with politics,” it is clear that they had everything to do with politics—and not just his own. Loans were used to bolster Senator Reid’s re-election chances in the tight 2010 race.

Email #8, McCrea wrote: “Since this is not going to go into the DOE, and just to be clear, the translation is: Reid may be desperate. WH may want to help. Short term considerations may be more important than longer term considerations and what’s a billion anyhow?”
Email #9, Silver wrote: “I need some stats on how many projects we have funded or have in DD [due diligence] as a percentage of totals.  Reid is constantly hit at home for not bringing in the federal dollars.”


If all of this were a novel, or better yet a dramatic feature film, we’d find it most entertaining. We’d leave the theater shaking our heads at the gall of the movie’s starring actor. Instead, this full-color story (White House, green energy, Silver connections) leads to red ink—money borrowed from China that the US taxpayer will be paying back for generations. 

The coercion, corruption, cronyism and, cover up of the President's pet projects is really a horror flick, after all, the emails were released on Halloween. Each one of us is a victim of an expensive trick.

Article first presented at Townhall.com written by columnist Marita K. Noon, Busting Open Energy's Den of Deception, November 4, 2012 –– as a follow up to our BREAKING this story on October 31, 2012:

Research by Christine Lakatos THE Green Corruption blogger.

Read more…

When he is confronted about the failed green-energy loan program, President Obama deflects blame—pointing to “career bureaucrats” in the Department of Energy (DOE) who supposedly approved the loans that have become an embarrassment to the White House. 

 


For months, along with researcher Christine Lakatos, I’ve been reporting on, first, the junk-bond rated projects (such as Solyndra) that received fast-tracked approval from the DOE and, then the failed and troubled stimulus funded companies. Solyndra was just the tip of the iceberg. 


Embarrassment after embarrassment has come to light as the projects touted as the hope for America’s future have filed for bankruptcy, sent money and jobs overseas, and faced technical difficulties.


According to GAO March 2012 statistics (and emphasized in the June 19th Congressional hearing), "For the 460 applications to the Loan Guarantee Program (LGP), DOE has made loan guarantees for 7 percent and committed to an additional 2 percent."


And of the 26 projects that got the loans, 22 were junk-bond rated—meaning private investors wouldn’t fund them. So why did we, the taxpayers?


Of the 26 loans issued through just the 1705 LGP to 21 firms, virtually all of them have meaningful political ties (bundlers, donors, supporters, etc). Our research showed that at least 90% of the projects had close ties to the White House and other high ranking Democrats. Despite the obvious connection, President Obama has repeatedly denied any involvement—preferring to blame “career bureaucrats” who could take the fall with no political consequence.


In March, Energy Secretary Steven Chu, testified that, “We looked at the loans on their own merits.” Also, back in November 2011, he said: “I am aware of no communication from White House to Department of Energy saying to make the loan or to restructure.”


Just last week, on October 26, President Obama affirmed Chu’s position when he said: “Decisions made in the loan program office are decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.”


However, late Wednesday, the House Committee on Oversight and Government Reform released a new report of “over 150 emails that contradict statements by the President, Secretary Chu, and White House and DOE officials.” The emails reveal a series of questionable practices, including coercion, cronyism and, cover ups.


The Committee has been asking for the emails and additional testimony since the Solyndra story broke in September of 2011, but the DOE has been refusing to cooperate. Emails were finally leaked from former DOE employees. Some of the incriminating evidence includes the following:

 

  1. From an email dated March 1, 2010 from David Schmitzer, DOE LPO Director of Loan
    Origination to LPO Credit Advisor McCrea and others: “Jonathan just said at our staff meeting that, opposite the message received on Thursday, AREVA is now a “go” (seems on Friday POTUS himself approved moving it ahead).”
  2. From an email dated June 25, 2010, LPO Executive Director Jonathan Silver encourages LPO Credit Advisor Jim McCrea to remind a Treasury official of White House Interest in now bankrupt Abound Solar: "You better let him know that WH wants to move Abound forward. Policy will have to wait unless they have a specific policy problem with abound.”
  3. From an email dated September 9, 2010 from LPO Credit Advisor McCrea to
    DOE contractor Brian Oakley: "Pressure is on real heavy on SF [Shepherds Flat] due to interest from VP.”

These emails are just a snippet of the 150 emails we are reviewing as a part of the just-released report. We have reported on each of the projects listed above and will report further.


We know that the Obama Administration operates from a “culture of corruption,” now we see that there is also a culture of deception within the White House walls. The White House green lies are bigger than innocent, little white lies; they are expensive green lies that have produced $34.7 billion in red ink for the taxpayers.


The Obama green energy program is the largest, most expensive, and deceptive case of crony capitalism in American history.

 

Back Story


As I was busy being "proud of myself" for making it on The Daily Caller (October 30th) with a "hit" piece featuring my "Obama Green-Energy Failures," I heard Newt Gingrich "On the Record with Greta Van Susteren” (Fox News Channel). Lo and behold, Gingrich had this to say, after noting that the rumor [more incriminating Benghazi emails were forthcoming], if true, would have a substantial impact on the presidential election, Gingrich pointed to another possible “October surprise” in the coming days.


“The other big story, I think, that is going to break is on corruption and extraordinary waste in the solar power grants and direct involvement by the Obama White House, including the president, in the solar panel grants involving billions of dollars, and I suspect that’s going to break Wednesday and Thursday of this week,” Gingrich added.

 

The next day, I received the above bombshell Intel in my inbox around 4:30 PM, and I was immediately in contact with Marita via emails, text, and on the phone –– thus we threw up this breaking news at Townhall.com [Emails Catch White House Lie on Green-Energy Loans], divulging just a snippet of data into the 150 internal emails released by the House Oversight Committee on October 31, 2012: Emails Contradict President Obama, Administration Officials on Energy Dept. Loan Program.

 

Cronyism*


Besides the obvious contradictions, coercion, and cover up, since April this year, we had already chronicled many of the green-energy, crony-corruption stories –– the driving forces behind the majority of the loans that flew out of the DOE. In fact the three firms/projects found in the "smoking gun" emails released by the House Oversight Committee –– that we decided to highlight in our breaking story –– we had already reported on since April 2012.

 

AREVA acquired Ausra Inc.* –– $2 billion (covered in my 2010 Green Corruption piece, and then again October 7, 2012 with Marita in our Romney to Obama: “You Pick the Losers." column


In March 2010, this Kleiner Perkins Caufield & Byers (KPCB) investment that “develops and deploys utility-scale solar technologies,” was acquired by AREVA Inc, the French state-owned nuclear giant. Two months later, in May of 2010, the DOE offered AREVA Enrichment Services, LLC a conditional commitment for a $2 billion loan guarantee (from the 1703 LGP) to support the Eagle Rock Enrichment Facility in Idaho Falls, Idaho. As rumors of AREVA “suspending its Idaho uranium enrichment plant” circulated in late 2011, AREVA CEO Luc Oursel did confirm: “the company has been hit by financial problems that will affect the Eagle Rock Enrichment Facility and others worldwide.” Further, according to John Stossel's Green Energy Myth July 2012 tally, “Shareholders of AREVA lost over 60% of their money last year [2011]. Why did we enrich the French? Who knows, but it's awfully fishy when we find our usual green cronyism suspects hovering around "government green" like vultures—Kleiner Perkins, where John Doerr and Al Gore are both partners and 2008 Obama supporters. Meanwhile billionaire John Doerr –– considered "a very big-ticket Obama donor" by New York Magazine –– influenced the 2009-stimulus, sits on the president's job council, and in February 2011 hosted a star-studded billionaire Silicon Valley dinner for the president. He just so happened to rake in billions of stimulus money for his KPCB clean-energy portfolio, including Fisker Automotive listed above. Other investors in Ausra close to Obama are Khosla Ventures and Gore's Generation Investment Management firm, but let's leave those cans of worms closed for now. 


 Ausra Connections:

  • As mentioned Kleiner Perkins as well as Al Gore's Generation Investment Management firm (GIM) also tied to the Spanish company Abengoa that received more than $2.8 billion in loans and grants—making them the second largest recipient of the $16 billion doled out through the DOE 1705 loan guarantee program.
  • Khosla Ventures, where billionaire Vinod Kholsa, another big VC winner in the green taxpayer funded giveaway, that includes Ausra (listed here), Coskata that snagged a $250 million DOE loan as well as Nordic WindPower (also a Goldman Sachs investment) for $16 million, plus more. Vinod Khosla, an affiliated partner of Kleiner Perkins, whose firm Khosla Ventures has also invested in some of the same companies as Kleiner Perkins, which include; AltaRock Energy Inc., $25 million grant from the stimulus; Amyris Biotechnologies, $25 million grant from the stimulus; and Mascoma Corporation has received state and federal grants from the DOE since 2006, totaling over $170 million and as recent as 2008, received another $49.5 million in funding from the DOE and the state of Michigan. According to Scwheizer's Throw Them All Out, "Kholsa had been the head of Obama's India Policy Team during the 2008 election and contributed to Democratic candidates. 



Abound Solar* (covered in my July 25, 2012 piece, and then again with Marita in our September 30, 2012 Obama Never Admits Green Failure column)

 

Received part of a $60 million grant under the Bush administration, and was awarded a $400 million loan under Obama in December of 2010. Abound was awarded a $9.2-million loan from the Export-Import Bank in July 2011. Bankrupt: June 2012

 

President Obama, in July 2010, praised Abound Solar, which was to make advanced solar panels in two locations: Colorado and Indiana. He believed these plants would be huge job creators: “2000 construction jobs and 1500 permanent jobs.” In December 2011, CEO Craig Witsoe called Abound Solar the “anti-Solyndra” saying that his company “doing well and growing.” However, just months after that optimistic report, Abound Solar filed bankruptcy—blaming cheap imports from China. Todd Shepherd, an investigative reporter for Colorado Watchdog found that “Abound’s problems appear to have been rooted in the quality of its own products, the competitiveness of the business model, and its inability to retain top talent.”

 

Abound Solar UPDATES

 

Abound Connections
Those that gained financially and politically:

  • 2008 billionaire heiress Pat Stryker, early investor in Abound (then AVA); 2008 Obama bundler and Democrat donor (and Obama donor for 2012)
  • Democratic Congressman Paul Kanjorski’s nephew Russell
  • Then-Colorado Democratic Congresswoman Betsy Markey (tied to cap-and-trade) 
  • At the state level, then Democratic Colorado Governor Bill Ritter strongly supported Abound Solar and its application for a DOE loan guarantee, gave letter to Secretary Chu.
  • Republican ties: Abound Solar is also backed by Invus Public Equities Advisors LLC, which was co-founded by Raymond Debbane, who has donated to Republican candidates including Representative Darrell Issa. Also, Abound, formerly known as AVA Solar won part of a $60 million grant under the Bush administration.


Shepherds Flat* (I covered in my July 2012 piece entitled, General Electric Making “Bank” off Obama's “Green” Stimulus Money; Over $3 Billion and Counting


EXCERPT: 

General Electric, CEO Jeffrey Immelt, Chair of Obama’s Job Council and the Billions They Raked in Through the 2009 Obama Stimulus Package 

Whereas General Electric (GE) is a heavy donor to
both Republicans and Democrats, and Immelt himself "plays the role of typical corporate donor who hedges his bets on both sides of the fence," in 2008, GE gave the Obama campaign $529,855, marking them a top Obama donor. Nevertheless, GE is a major player on the clean-energy scene as well as in this green energy scheme. Even The New York Times recognized GE’s “green power,” noting that in 2009, GE lobbied Congress to help expand the “clean-energy subsidy programs, and it now profits from every aspect of the boom in renewable-power plant construction,” including “hundreds of millions in contracts to sell its turbines to wind plants built with public subsidies.” In fact, you'll be "blown away" by the billions of "wind energy grants" that blew out of the stimulus package back in February 2010, of which GE is contracted to at least 26% of them as the "Turbine Manufacturer."

In late 2009,
it was reported that GE became "one of the newer smart meter players," and that they "had been working with utility Oklahoma Gas & Electric on a 6,600 smart meter trial, and had procured "a contract with Pepco Holdings (PHI)," which received Smart Grid Investment Grants totaling $168 million. GE also has a big contract with Florida Power and Light," also the recipient of a $200 million stimulus grant.

Yet, this is just the beginning of the GE "green bucks"...


While
a recent "news flash" was published by the Republican National Committee, confirming via Recovery.gov that "General Electric received over $1.2 billion worth of stimulus loan guarantees, awards, contracts and grants" (the majority of which were for renewable energy projects), they missed billions more. Two large 1705 loan guarantees that I had outlined in April of this year, as well as a forthcoming $490 million cash grant and a $54.6 million loan from the Federal Railroad Administration (FRA). Add in some smaller government subsidies and awards for a multitude of green projects, programs, and through some of their "green alliances," that I found during my 2011 research, and GE's "green tab" exceeds $3 billion in direct (some indirectly) taxpayer cash, and counting. ;

Let's take a look at GE's two projects from the
1705 Loan Guarantee Program, both of which are included the DOE's risky investment portfolio.

  • 1366 Technologies Inc, Rating B by Fitch, Sept 2011 –– $150 million
  • Caithness Shepherds Flat, LLC –– Rating BBB- by Fitch; Oct 2010 for $1.04 billion (or $1.3 billion)

GE sponsored the Caithness Shepherds Flat, and also supplied the project with 338 wind-turbines. On top of the $1.3 billion loan, the Caithness project is set to receive a cash grant of $490 million from the Treasury Department once those turbines start turning.

Later,
another close associate of, and big donor to the president invested in Caithness. As uncovered by Peter Schweizer in his book, Throw Them All Out, "Google's CEO at the time, Eric Schmidt, served as an informal advisor to President Obama.” Still, Schmidt, Google Executive Chairman, was an Obama donor in 2008, and since April 2009, is a member of the president's Science and Technology Advisory Council (PCAST). Interestingly, Google’s $814,540 contribution to Obama’s campaign made it the fifth largest donor in 2008. As of late, Google has aimed its "search engines" at green technology, many of which have received government "help" –– BrightSource, Solar City, Telsa Motors, and others, but we’ll stay focused on GE.

The House Oversight, March 2012
investigation reveals internal memos of concern over the fact that the Caithness Shepherds Flat project was receiving “an excessive amount of public subsidy (where grants, tax credits and loan guarantees provided 65% of the funding for the project), and that private parties did not have sufficient ‘skin in the game.’”

Further, it goes on to state, “Four months after the DOE approved the Caithness loan, President Obama named Jeff Immelt, the CEO of GE, as the Chairman of Obama’s Job Council” –– a council
stacked with Democratic donors, and several Obama bundlers, both for the 2008 and 2012 campaigns.

It also discloses “General Electric’s broad access to loan guarantees,” and it gives a very illuminating account. “Since Immelt’s appointment as Chair of the Job Council, two additional government-backed transactions have occurred." "First the poorly rated 1366 Technologies, sponsored in part by GE, received a direct $150 million loan commitment from the DOE for its solar manufacturing plant." Second was the Federal Railroad Administration (FRA) that loaned $54.6 million to Kansas City Southern Railway Company (KCSR) "to purchase thirty new General Electric ES44AC diesel-electric locomotives" –– a loan that raised red flags in the House investigation. 


More to come...


However, another incriminating factor that struck me in the new report (memo) released by House Oversight is that "DOE officials were aware of Senate Majority Leader Harry Reid’s tough reelection in 2010 and moved projects that were important to Senator Reid forward." 

  • In a December 5 2009 email, Loan Program Office Senior Credit Advisor Jim McCrea forwarded an article about Senator Reid’s reelection campaign to LPO contractor Paul Barbian and stated: “Since this is not going to go into the DOE, and just to be clear, the translation is: Reid may be desperate. WH may want to help. Short term considerations may be more important than longer term considerations and what’s a billion anyhow?” 
  •  In a May 4 2010 email, LPO Executive Director Jonathan Silver wrote in an email “I need some stats on how many projects we have funded or have in DD [due diligence] as a percentage of totals.  Reid is constantly hit at home for not bringing in the federal dollars.”
  • Throughout 2010 LPO emails indicate that projects in Nevada were prioritized because they were “high profile,” “tied to larger events,” or because they had Senator Reid’s support.  These projects included the $343 million SWIP project (Email #10, attached), the $98.5 million Nevada Geothermal project (Email #11, attached), and the $737 million SolarReserve Tonopah project. 

 

This is another part of the Green Corruption scandal brought to you by Marita and I in July 2012, Senator Harry Reid’s Part in Green-Energy Crony-Corruption. However, speaking of Jonathon Silver and Secretary Chu, they are both implicated in these newly released and damning email dumps –– both on my Green Corruption radar since 2010, along with at least a "Dozen DOE Insiders."

And in April 2012, Chu in my Green Corruption: Department of Energy “Junk Loans” and Cronyism, noting that in a gripping line of questioning, Ohio Representative Jim Jordan confronted this issue head on during that same hearing where he pressed Secretary Chu on nine of the firms that received loans, revealing their political connections. Chu countered that the loans were based on merit. Yet Jordan was perplexed, “so if you weren’t helping your buddies, and you were basing your decisions on the merits of the loan, how do you explain the fact that 23 of 27 recipients of the loan guarantees were rated as junk status investments?” Jordan concluded, “If it wasn’t your political buddies, it had to be incompetence.”


At first glance, we have plenty more cronyism and corruption to piece together with these "smoking gun" emails (and we will), and 100's of more emails to read. Still, it would be a worthy endeavor to investigate if Silver or Chu perjured themselves (or any other CEO as well as any former or current DOE Official for that matter), during any of the (five) House Oversight Committee hearings that have been conducted since 2011 –– my hunch, yes!


Stay tuned...

Read more…

341.jpgAt the end of September, Marita Noon and I began to expose the various failures of Obama’s green-energy expenditures (mainly from the trillion dollar, 2009-stimulus package where over $90 billion was earmarked for "green") –– projects and firms that have gone bankrupt (confirming 15 with more on our radar). A hot topic that became part of the first presidential debate where after President Obama pressed Mitt Romney for supporting tax cuts for oil companies, Romney reminded Obama that he put $90 billion into failing green companies like Solyndra, Fisker, Tesla, and Ener1. “I had friend who said you don’t just pick the winners and losers, you pick the losers,” Romney cleverly added.


We then we moved on to those that are functioning, but facing difficulties –– struggling either financially, while some environmentally, still others laying off workers, and quite a few on life support (approximately 20). 

 

Lastly, we addressed the "5 million green jobs that Candidate Obama had promised in 2008," of which Team Obama is now claiming victory, however, as we noted, the math doesn't add up, nor does the gimmick accounting –– recycled ones; those that already existed –– used by the Obama administration's Labor Department.


While in Marita's Townhall.com columns we placed an * after the project/company’s name to indicate a political connection (cronyism and corruption), in my subsequent blogs I expanded upon our efforts, and plugged in my research, listing those critical ties. 


In our three-part series, two focused directly on the failures, and our sums were 15 bankruptcies and 20 troubled (a total of 35 with over 65% having meaningful Democrat political connections –– bundlers, donors, supporters, etc). Yet, considering the rapid speed of these "green" bankruptcies and issues (about 10 that I read about just last week), I'm compiling new totals here, which will include a new and updated list by the Heritage Foundation dated October 18, 2012 –– President Obama’s Taxpayer-Backed Green Energy Failures –– with their total of 36 (updated later with a number of 34). And most listed at The Heritage and ours are very similar, however, they have some we don't and vise versa.

 

New calculations: 22 bankrupt, 25 troubled, equals a new "Obama green-energy failure" list total of 47. And so far, at least $15 billion of "green" taxpayer money is either gone or still at risk, and the majority was funneled to Obama and Democrat cronies –– I can confirm that over 62% are political connected.

 

BANKRUPT

  1. Solyndra*: Received $535 million DOE loan and $25.1 million in California tax credit. Bankrupt: September 2011
  2. Abound Solar*: Received part of a $60 million grant under the Bush administration, and was awarded a $400 million loan under Obama in December of 2010. Abound was awarded a $9.2-million loan from the Export-Import Bank in July 2011. Bankrupt: June 2012
  3. Beacon Power*: Received more than $25 million in DOE grants and a DOE loan for $43 million. Bankrupt: October 2011 
  4. A123 Systems*: Received $390 million, of which $249 million of it was a Recovery Act Grant. Filed for Bankruptcy October 16, 2012, and two companies are seeking to buy A123; Johnson Controls and the Chinese firm Wanxiangis. 

  5. AES Eastern Energy/Energy Storage*: Received $17.1 million DOE conditional commitment on August 2, 2010. Bankrupt: December 31, 2011.
  6. Amonix*: Received $6 million in federal tax credits a $15.6 million grant from the DOE for research and development. Bankrupt: July 18, 2012 
  7. Azure Dynamics*: Received millions in stimulus funds and over $1.7 million in Michigan state tax credits. Bankrupt: March 27, 2012 ––  HF ADDITION: states $120 million
  8. Babcock & Brown: Received $178 million in the largest federal (1603) stimulus wind grant in December 2009. Placed into voluntary liquidation: March 13, 2009
  9. Energy Conversion Devices Inc./Uni-Solar: Received a $13.3 million Stimulus tax credit. Bankrupt: February 2011.
  10. Ener1*: Received a $118.5 million DOE Stimulus grant. Bankrupt: January 26, 2011.
  11. Evergreen Solar, Inc.*: Received Stimulus funds, grants, tax-credits, low-interest loans and subsidies. Bankrupt: August 15, 2011 
  12. Konarka Technologies Inc.: Received $20 million in grants from government agencies such as the DOE and the Pentagon. Bankrupt: June 4, 2012.
  13. ADDITION Range Fuels*: Range Fuels: $162.25 million in government commitments since 2007, of which $64 million came from a USDA Biofuel loan in 2010 alone, despite financial and technical difficulties, and opposition inside the USDA. 
  14. Raser Technologies: Received $33 million Treasury Department Stimulus grant. Bankrupt: May 2, 2011. 
  15. SpectraWatt*: Received $500,000 grant from the Renewable Energy Lab via the Stimulus. Bankrupt: August 23, 2011
  16. Stirling Energy Systems: Received $7 million from a federal renewable-energy grant and was eligible for nearly $10.5 million in manufacturing September 28, 2011
  17. Thompson River Power LLC: Received $6.5 million in Stimulus funds from Section 1603. Bankrupt: July 2, 2012.
  18. HF ADDITION: Mountain Plaza, Inc. ($2 million); in our unconfirmed list
  19. HF ADDITION: Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million);
    in our unconfirmed list
  20. HF ADDITION: Nordic Windpower* ($16 million)
  21. HF ADDITION: Satcon ($3 million) As reported by the Heritage Foundation October 18, 2012, "A solar company that got a multi-million-dollar grant from the Department of Energy earlier this year announced Wednesday that it will file for Chapter 11 bankruptcy protection, making it the second taxpayer-backed green energy company to file for bankruptcy this week." 
  22. HF ADDITION: Willard and Kelsey Solar Group ($700,981) ($6 million); in our unconfirmed bankrupt list


TROUBLED

  1. Fisker Automotive* –– $528.7 
  2. Tesla Motors* –– $465 million 
  3. AREVA acquired Ausra Inc.* –– $2 billion  
  4. BrightSource Energy* –– $1.6 billion 
  5. First Solar* –– $3 billion, plus suspicious Export-Import bank funding 
  6. Nevada Geothermal* –– $78.8 million, plus $69 million in federal stimulus-funded grants
  7. NextEra Energy Genesis Solar Project* –– $681.6 million
  8. SunPower Corp.* (California Valley Solar Ranch project bought by NRG Energy*) –– $1.2 billion DOE loan guarantee
  9. AltaRock* –– $6 million, $25 million, plus $1.45 million 
  10. Bloom Energy* –– $5 million
  11. CH2M Hill* –– $2 billion 
  12. Chevy Volt* –– $151 million, $105 million, plus other stimulus funds HF ADDITION: GreenVolts ($500,000) - I'm assuming this is the Chevy Volt
  13. ECOtality Inc.* –– $126.2 million  
  14. Johnson Controls –– $299 million

  15. Montana Alberta Tie Line –– $152 million of federal financing (some reports say $161 million) 
  16. National Renewable Energy Lab* –– $200 million
  17. Schneider Electric –– $86 million
  18. Serious Material (Serious Energy)* –– $548,100   
  19. Solar World Industries America –– $4.6 million  
  20. ADDITION: Solar City* –– Got a $275 million conditional guarantee (DOE) that was later rejected. Besides some financial issues, Solar City was subpoenaed in July as part of a federal probe of the Treasury grant program. As reported by The Washington Free Beacon (October 18, 2012), SolarCity, is currently being audited by the Internal Revenue Service and investigated by the Treasury Department’s inspector general amid allegations that the firm misrepresented the value of its investment when applying for stimulus grants. So it looks like Solar City" has applied for approximately $325 million in these stimulus grants, according to the SEC filing." So, loan rejected, but the grant is larger (as are the political ties) –– we'll keep an eye on this story.
  21. Solar World Industries America –– $4.6 million
  22. HF ADDITION: Vestas ($50 million)
  23. HF ADDITION: LG Chem’s subsidiary Compact Power ($151 million, part of the Recovery Act, and millions worth of special state tax breaks based on job creation of all things) LG Chem is another green company that President Obama touted during his visit at the LG Chem battery cell production site in 2010.  This is an amusing story that was recently brought to my attention –– according to Wood TV, Michigan (October 18, 2012), "Workers at LG Chem, a $300 million lithium-ion battery plant heavily funded by taxpayers, tell Target 8 that they have so little work to do that they spend hours playing cards and board games, reading magazines or watching movies." Now, their story (more scandalous than what I posted here) is under investigation by the Recovery Accountability and Transparency Board –– an oversight agency for the federal stimulus program, what I call the RAT Board –– another huge part of this green corruption scandal.
  24. HF ADDITION: Navistar ($10 million) 
  25. HF ADDITION: Mascoma Corp.* ($100 million)

 

Department of Energy Collateral Damage

  1. Aptera Motors 
  2. Bright Automotive
  3. Solar Trust*

 *Denotes companies/projects with confirmed cronyism and/or corruption.



The is the complete list of faltering or bankrupt green-energy companies by The Heritage Foundation, October 18, 2012 (updated later to reflect 34)  –– President Obama’s Taxpayer-Backed Green Energy Failures

The complete list of faltering or bankrupt green-energy companies:

  1. Evergreen Solar ($25 million)*
  2. SpectraWatt ($500,000)*
  3. Solyndra ($535 million)*
  4. Beacon Power ($43 million)*
  5. Nevada Geothermal ($98.5 million)
  6. SunPower ($1.2 billion)
  7. First Solar ($1.46 billion)
  8. Babcock and Brown ($178 million)
  9. EnerDel’s subsidiary Ener1 ($118.5 million)*
  10. Amonix ($5.9 million)
  11. Fisker Automotive ($529 million)
  12. Abound Solar ($400 million)*
  13. A123 Systems ($279 million)*
  14. Willard and Kelsey Solar Group ($700,981)*
  15. Johnson Controls ($299 million)
  16. Schneider Electric ($86 million)
  17. Brightsource ($1.6 billion)
  18. ECOtality ($126.2 million)
  19. Raser Technologies ($33 million)*
  20. Energy Conversion Devices ($13.3 million)*
  21. Mountain Plaza, Inc. ($2 million)*
  22. Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
  23. Range Fuels ($80 million)*
  24. Thompson River Power ($6.5 million)*
  25. Stirling Energy Systems ($7 million)*
  26. Azure Dynamics ($5.4 million)*
  27. GreenVolts ($500,000)
  28. Vestas ($50 million)
  29. LG Chem’s subsidiary Compact Power ($151 million)
  30. Nordic Windpower ($16 million)*
  31. Navistar ($39 million)
  32. Satcon ($3 million)*
  33. Konarka Technologies Inc. ($20 million)*
  34. Mascoma Corp. ($100 million)

*Denotes companies that have filed for bankruptcy.

 

HERITAGE CORRECTION:

Figures for four companies have been updated: Beacon Power received $43 million from the U.S. government, not $69 million as originally reported. Azure Dynamics received $5.4 million from the federal government, not $120 million as originally reported. Compact Power Inc. received $151 million as part of the stimulus, not $150 million as originally reported. Willard and Kelsey Solar Group received $700,981 in government funding, not $6 million as originally reported.

 

The following companies have been removed from the original list: AES’s subsidiary Eastern Energy, LSP Energy and Uni-Solar did not receive government-backed loans, based on additional research. The National Renewable Energy Lab did received $200 million in stimulus funding, but it is a government laboratory.


NOTE: My blog reflects the Heritage "corrections," however, I kept in AES and the National Energy Lab –– and we initially had four unconfirmed bankruptcies:

  • LSP Energy
  • Mountain Plaza Inc.
  • Olsen Crop Service/Olsen Mills
  • Willard & Kelsey Solar Group

 

 

So far, at least $15 billion of "green" taxpayer money is either gone or still at risk, and the majority was funneled to Obama and Democrat cronies 


As you can see tracking President Obama's failed green-energy expenditures is like aiming at a moving target, and calculating the exact dollar amount is even more difficult to pinpoint. This is partly due the fact that companies/projects received multiple green government subsidies that weren't recorded or tracked properly (federal and state loans, grants and special tax credits, and from various programs and agencies). Also, some of these firms were given a loan guarantee, yet didn't have access to the entire amount,  prior to their bankruptcy.  However, as a ballpark figure, I'd say that at least $15 billion that we know of at this time. And here's why...


I had purposely listed the bankrupt and troubled from the Department of Energy's Loan Guarantee Program (DOE LGP) first. Since 2009, the DOE has guaranteed $34.7 billion – 46% through the 1705 ($16 billion of which 90% are politically connected), 30% through the 1703 ($10.3 billion—AREVA and Georgia Power), and 14% through the ATVM ($8.4 billion and 3 of the five loans are tied directly to Obama).


Marita and I covered eleven companies from the DOE LGP (Solyndra, Abound Solar, Beacon Power, Fisker Auto, Telsa Motors, AREVA, BrightSource Energy, First Solar, Nevada Geothermal, NextEra Energy's Genesis Solar Project, and SunPower/NRG Energy's California Valley Solar Ranch), noting that from that program alone, close to $10 billion of taxpayer money is already gone, while, as you can see, some is still at risk. What's interesting to note is that of the "26 loan guarantees under the 1705 program, of which the DOE doled out in excess of $16 billion, “23 of the loans were rated “Junk grade” due to their poor credit quality, while the other four were rated BBB, which is at the lowest end of the 'investment' grade of categories.”


Meaning that the DOE had already put the majority of that $16 billion into excessively risky investments. And to add insult to taxpayer injury, the driving force behind these decisions weren't based merit as the DOE would have you believe –– obviously it was cronyism and corruption. My April 2012 analysis of the Committee on Oversight and Government Reform March 2012 report confirmed that over 90% have meaningful political ties to President Obama and high ranking Democrats, or both, which gives credence to Congressman Ryan's jab to the so-called "Stimulus Sheriff," Vice President Joe Biden during the VP debate, "$90 billion in green pork to campaign contributors and special interest groups." Ryan went on to call the Obama green-energy expenditures what it is, "crony capitalism and corporate welfare."


In case you missed our Obama Green Energy Failures, Three Part Series:

 

PS: If anyone cares to add up these failed green-energy expenditures, drop me a line and I'll post it on my blog. Thanks, Christine @calfit32@gmail.com; THE Green Corruption blogger.

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