Monday, September 09, 2013

Another $42 Million Wasted on Obama's "Green Energy" Technology

This time it's a Michigan van manufacturer:
The Energy Department conceded Friday that the federal government will lose $42 million on a loan to a shuttered Michigan van manufacturer — part of the same program that provided a $529 million loan to an electric car maker that also has gone under.
Vehicle Production Group (VPG), which made vans for the disabled, ceased operations in February and laid off 100 workers, two years after receiving a $50 million federal loan under the same clean-energy program that provided a $529 million loan to electric car maker Fisker Automotive Inc., according to the Associated Press.

Again, this is exactly what you get when the government picks winners and losers in the energy business. It's not up to the government to choose one technology over another -- the marketplace sorts that out. When the government inserts itself into that relationship, someone is going to lose their ass and it's usually the taxpayer. So, Barack the Terrible, where does the taxpayer go to get the billions they've lost in "green energy" technology back?

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