More loans to a solar power company is pure political croynism

Posted on: September 29, 2011

From Ed Morrissey’s article on HotAir tells us that the Administration wants more money for solar power companies for Obama’s green energy programs. In fact, the DOE announced a $727 million loan guarantee to 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.

Guess who is one of SolarReserve’s “investment partners” from Pacific Corporate Group? Why it is Ron Pelosi PCG’s executive director. If that name sounds familiar, it should. Ron Pelosi is the brother of Nancy Pelosi’s husband.

But this gets even better. The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs. Forty-five permanent jobs?  That puts the cost per permanent job at over $16 million, a figure that could employ perhaps a hundred people had the capital remained in the hands of the private sector that produced it.  Whatever else these green-tech loans are, they certainly are not job-creation stimulus.

It seems to me that this is just another scam and pure political cronyism. This sounds just like the push by the Obama administration
to approve a loan to a failing Solyndra backed by one of his big campaign bundlers.  That’s exactly what’s going on with this program, and with Barack Obama’s demands for more blank checks for stimulus.  The only thing Obama’s stimulating is the pockets of his cronies.


2 Responses to "More loans to a solar power company is pure political croynism"

And yet the press still won’t hold Obama responsilble. If it were a repub it would be shouted from the front page

John Wilder

Lovely website! I am loving it!! Will be back later to read some more. I am taking your feeds also

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