The green job scheme continues to be proven a failure and yet Obama keeps on redistributing taxpayer dollars to those who support his political campaign.
From The NYTimes:
In a remote desert spot in northern Nevada, there is a geothermal plant run by a politically connected clean energy start-up that has relied heavily on an Obama administration loan guarantee and is now facing financial turmoil.
The company is Nevada Geothermal Power, which like Solyndra, the now-famous California solar company, is struggling with debt after encountering problems at its only operating plant.
Wonder how much money Nevada Geothermal Power executives gave to Obama in 2008? You know the drill. Give $$$ to Obama and Obama gives you $$$ back. Look at Solyndra for proof. I’m sure Harry Reid (D-NV) will be tied to this scheme.
After a series of technical missteps that are draining Nevada Geothermal’s cash reserves, its own auditor concluded in a filing released last week that there was “significant doubt about the company’s ability to continue as a going concern.”
Thanks to Obama issuing taxpayer-backed loans, these companies spend money like drunken sailors and don’t have to answer to anyone. Maybe the FBI should raid Nevada Geothermal like they did when Solyndra went bankrupts.
It is a description that echoes the warning issued in 2010 by auditors hired by Solyndra, which benefited from the same Energy Department loan guarantee before its collapsein August caused the Obama administration great embarrassment.
A top political donor, Steven J. Spinner, is the guy pushing these loans to solar power companies who donated to Obama’s political campaign. Hope and change translated means screw the taxpayers.