October 02, 2011
— rdbrewer The Department of Energy slipped in five billion more in loan guarantees on Friday before the midnight deadline. But unlike Solyndra, I'm sure these investments aren't sloppy. After all, Nobel Prize winner Stephen Chu is in charge.
The embattled department announced approvals for a total of more than $4.7 billion in guarantees Friday — acting hours before the program's congressional authorization was set to expire, and seeming not at all like an agency cowed by the furor over its troubled $535 million loan guarantee to Solyndra.. . .
As of 6 p.m., DOE had yet to announce whether it was approving or rejecting two more conditional loan guarantees on which it must act before midnight.
. . .
Friday's total is in addition to more than $1.2 billion in guarantees that the department issued earlier in the week.
I wonder if there are a lot of Obama donors and bundlers in those organizations. Surely not. Chu issued this statement:
“To win the clean energy race we must invest in projects like this that fund jobs and increase the generation of clean, renewable power in the U.S.,” Chu said in a statement. “Deployment of utility-scale solar power will help bring down the cost of solar and strengthen our position as a global clean energy leader.”
So there's a clean energy race. Just like the space race. And we have to win it. Because it's important to be the global clean energy leader and not let Russia or China beat us. That way we'll have all the braggin' rights. More at the Washington Post.
Posted by: rdbrewer at
06:18 AM
| Comments (25)
Post contains 279 words, total size 2 kb.
The resource - sunlight - is FREE. Entrepreneurs should be grabbing up desert acreage and installing solar power plants like crazy! But no, we need to bribe them to do it with billions of our tax dollars..
Posted by: Chi-Town Jerry at October 02, 2011 06:24 AM (UTq/I)
Posted by: Zombie JFK at October 02, 2011 06:24 AM (YL3wr)
Posted by: Frank G at October 02, 2011 06:29 AM (1rPxL)
Politicians should be help personally accountable for losses of public money.
Posted by: Deathknyte at October 02, 2011 06:43 AM (9Ic+/)
Posted by: GnuBreed at October 02, 2011 06:46 AM (ENKCw)
Posted by: Stephen Chu at October 02, 2011 07:58 AM (AZGON)
Posted by: rightlysouthern at October 02, 2011 08:23 AM (l12Qv)
________
Way ahead of you, bro.
Posted by: Anachronda's genetics at October 02, 2011 08:24 AM (6fER6)
Still gambling with taxpayer money...
Posted by: Blacque Jacques Shellacque at October 02, 2011 09:09 AM (dr4y0)
Between this fiasco and the gun runner scandal, one would think impeachment proceedings should have already commenced.
As for the "ones" chances on the lecture circuit after his defeat...I kinda think the WH is going to keep the teleprompter!
Posted by: Lenny Elbon at October 02, 2011 09:11 AM (l5xP2)
It's bizarro world where academic and political hacks with no real world experience doing, well anything, are playing with hundreds of billions of our dollars...Watch, as they attempt to defy gravity and make shit roll uphill! Wind and solar costs many many mulitples more than traditional means of electricity production. Always will dumbass!
Posted by: Survey sez at October 02, 2011 09:33 AM (wrGst)
Posted by: Zombie Jim Kelly at October 02, 2011 09:44 AM (wrGst)
________
Way ahead of you, bro.
No, I'm way ahead of you both.
Posted by: Honey Badger at October 02, 2011 10:48 AM (ydi6h)
Posted by: Merovign, Dark Lord of the Kate Beckinsale Fan Club at October 02, 2011 11:02 AM (bxiXv)
A rational program would have focused first on sub-orbital and orbital applications with development aimed at launch systems that worked reliably and often. Being able to deliver a ton of payload to orbit on less than a week's notice would have been a good goal to set for a large cash prize private enterprise could compete for. THEN you set a goal of permanent items like space stations and long term habitation. You learn how to build stuff in space and work your way towards a moon mission with an eye toward permanent installations there.
At the time the movie '2001' was made it seemed perfectly reasonable that we'd proceed that way, once we got over the political stunt mentality that prioritized reaching the Moon before we could get to orbit reliably and often. As it is, we tried to circumnavigate the globe just a few weeks after we'd crossed the English Channel a few times. Impressively ambitious but not good business.
A viable business doesn't need government funding unless its only customer is the government, most often the military. Funding R&D is a debatable use of taxpayer monies but acceptable to more of us than outright intervention in the free market and its unsurpassed bullshit detector.
If placing a photovoltaic array on your home's roof requires substantial government funded subsidies to make financial sense for the homeowner, then there is something very wrong with the business of residential solar power. Likewise for electric cars and a list of other products that don't deliver much in exchange for high cost.
It isn't that we don't like the idea of reduced or non-polluting energy sources. I grew up reading Science Fiction. To me a factory belching out a column of smog isn't just polluting but also throwing material that should have application elsewhere. Doing stuff better and cleaner is wonderfully appealing but wishing don't make it so. Every advance comes after a great deal of thought and effort. Throwing money at the problems doesn't guarantee a desired result but it does guarantee that those interested in the money itself will get involved.
Posted by: epobirs at October 02, 2011 11:08 AM (kcfmt)
Posted by: President Slapchop wait till ya see my nuts! at October 02, 2011 12:05 PM (wrGst)
Green energy makes sense if you don't mind mulitplying your electric bill by, oh I don't know...TEN! I don't mind, what say you?
Posted by: President Slapchop wait till ya see my nuts! at October 02, 2011 12:13 PM (wrGst)
Posted by: steevy at October 02, 2011 03:49 PM (fyOgS)
Posted by: Schwalbe at October 02, 2011 04:46 PM (IxGUR)
Posted by: The Steve Jobs Way AudioBook at October 02, 2011 04:57 PM (WPpfg)
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Posted by: phoenixgirl at October 02, 2011 06:20 AM (eOXTH)