Crony Socialism: Obama Gives $737 Million to Solar Firm Linked to the Pelosi Clan
Posted by Jim Hoft on Wednesday, September 28, 2011, 12:14 PM
Obama admires solar panels during a trip to Florida. (Yahoor)
The Energy Department announced Wednesday that is has finalized a $737 million loan guarantee for a Nevada solar project.
The decision comes several weeks after a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009 filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.
The $737 million loan guarantee will help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.
Crescent Dunes is the latest solar project to receive a loan guarantee from the Energy Department in recent weeks. The department announced a $1.2 billion loan guarantee to Abengoa Solar for a solar generation project in California and a $150 million loan guarantee to 1366 Technologies for a Massachusetts solar manufacturing project earlier this month.
The Energy Department says the project will result in 600 construction jobs and 45 permanent jobs.
That equals $1.1 million per job IF you count the construction jobs and $16.4 million per job if you only count the permanent jobs. How much investigating is it going to take before we end this crony socialism and stop letting this criminal flush OUR money down the toilet. There is no way we will ever recoup the cost of this and the Solyndra boondoggle, between the two that is $1.2 billion up in smoke . I’ve said once and I’ll say it again, IMPEACH THIS BASTARD NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Tom in NC