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It Didn’t Work For Energy

- August 1, 2012

Obama Claims His Energy Plan Is An All-Of-The-Above Approach; Four Years Later Energy Costs Are Still High And America Is Still Not Self-Reliant

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WITH NO CLEAR PLAN, OBAMA HAS ADMITTED HIS OWN FAILURE ON ENERGY WHILE CONTINUING TO BLOCK THE PATH FORWARD, LEAVING AMERICA WORSE OFF

In 2008, Obama Called Energy A Leading Priority Of His Presidency. OBAMA: “Looking ahead, I’m confident that we will be ready to begin the journey towards a new energy frontier on January 20th. This will be a leading priority of my presidency and a defining test of our time.” (President-Elect Barack Obama, Remarks Announcing Key Members Of Energy And Environment Team, Chicago, IL, 12/15/08)

  • Obama: “We Can’t Afford Complacency Nor Accept More Broken Promises.” OBAMA: “We cannot afford complacency, nor accept any more broken promises. We won’t create a new energy economy and protect our environment overnight, but we can begin that work right now if we think anew, and act anew. Now, we must have the will to act, and to act boldly.” (President-Elect Barack Obama, Remarks Announcing Key Members Of Energy And Environment Team, Chicago, IL, 12/15/08)

Four Years Later, Former Obama Advisor Steven Rattner Said “We Have Absolutely No Energy Policy.” RATTNER:”It’s a viable issue. But let’s look at the facts. The U.S., in fact, notwithstanding the fact we have absolutely no energy policy and we all including myself believe we should have one, has not really been that much a part of the problem lately.” (MSNBC’s “ Morning Joe,” 3/9/12)

NBC News’ Chuck Todd Said There’s “No Issue That Has Been … A Bigger Bust For The President Than Energy Policy In General.” MSNBC’s CHUCK TODD: “Very quickly, president’s going down to Miami to give an energy speech. Nia, you’ve been with me, I feel like, on the front lines covering the president from the day he took office. There is no issue that has been a, I guess, a bigger bust for the president than energy policy in general. There’s a lot of, we can come up with a lot of excuses as to why, but boy, it’s just like you can’t - he’s made no progress.” THE WASHINGTON POST’S NIA-MALIKA HENDERSON: “No, he’s made no progress. I remember covering him on the campaign and he would talk about, you know, turning these manufacturing plants into wind turbine plants and it seemed to work then, but, you know, in terms of the reality and on the ground actually success during his presidency, absolutely none.” (MSNBC’s “The Daily Rundown,” 2/23/12)

Even Obama Has Said He’s Failed On Energy. OBAMA: “Our energy policy still is just a hodgepodge, and for all the progress we’ve made, we’re not where we need to be in making sure that this is an energy-efficient economy that is running on all cylinders.” (President Barack Obama, Remarks By The President At A DNC Event, Miami, FL, 6/13/11)

Obama Talks Big On Domestic Drilling But Has Yet To Deliver

The President’s Jobs Council Called For An “All In” Strategy On Energy That Recommends “Expanding And Expediting The Domestic Production Of Fossil Fuels.” “In a proposal likely to be opposed by environmentalists, the report calls for an ‘all in’ strategy on energy that would seek to further exploit domestic fossil-fuel supplies to reduce reliance on foreign imports. But it also urges development of cleaner energy sources and promotion of energy efficiency. ‘The Jobs Council recommends expanding and expediting the domestic production of fossil fuels - including allowing more access to oil, gas, and coal opportunities on federal lands - while ensuring safe and responsible development of those sites,’ the report said.” (Matt Spetalnick, “Obama Jobs Panel Pushes Tax Reform, U.S. Drilling,” Reuters, 1/16/12)

  • “The Council Recognizes That Providing Access To More Areas For Drilling, Mining And Renewable Energy Development Is Controversial, But, Given The Current Economic Situation, We Believe It’s Necessary To Tap America’s Assets In A Safe And Responsible Manner,’ The Report Says.” (Andrew Restuccia, “Obama’s jobs council report says ‘Drill,’” The Hill’s E2 Wire, 1/17/12)

The Obama Administration Proposed Rules That Would Reduce The Amount Of Acres Set Aside For Oil-Shale Mining From 2 Million To 462,000. “Their anger stems from proposed Bureau of Land Management rules that would reduce the acres set aside for oil-shale mining from 2 million to 462,000. Nearly half the available land would be in Utah. The higher acreage was determined during the President George W. Bush’s tenure, under a 2005 energy law. The BLM said a new assessment was needed in light of environmental lawsuits and questions pertaining to the commercial viability of the resource, which must be superheated to extract oil.” (Matt Canham, “Utah Delegation Chides Obama For Oil-Shale Cutback,” The Salt Lake Tribune, 2/8/12)

Federal Issued Drilling Permits Under The Obama Administration Are Lower Than The Historical Average. “In early 2010, he proposed to open some new areas to drilling but shut that down after the Gulf oil spill. According to the Greater New Orleans Gulf Permits Index for January 31, over the previous three months the feds issued an average of three deep-water drilling permits a month compared to the historical average of seven. Over the same three months, the feds approved an average of 4.7 shallow-water permits a month, compared to the historical average of 14.7.” (Editorial, “‘Stupid’ And Oil Prices,” The Wall Street Journal, 2/27/12)

  • In Fiscal Year 2007, There Were 7,124 Approved Drilling Permits On Federal Lands. (Number Of APDs Approved By Year On Federal Lands, U.S. Bureau Of Land Management , Accessed 3/27/12)
  • In Fiscal Year 2008, There Were 6,617 Approved Drilling Permits On Federal Lands. (Number Of APDs Approved By Year On Federal Lands, U.S. Bureau Of Land Management , Accessed 3/27/12)
  • In Fiscal Year 2009, There Were 4,487 Approved Drilling Permits On Federal Lands. (Number Of APDs Approved By Year On Federal Lands, U.S. Bureau Of Land Management , Accessed 3/27/12)
  • In Fiscal Year 2010, There Were 4,090 Approved Drilling Permits On Federal Lands. (Number Of APDs Approved By Year On Federal Lands, U.S. Bureau Of Land Management , Accessed 3/27/12)
  • In Fiscal Year 2011, There Were 4,244 Approved Drilling Permits On Federal Lands. (Number Of APDs Approved By Year On Federal Lands, U.S. Bureau Of Land Management , Accessed 3/27/12)

Putting Politics Ahead Of American Jobs And Energy Security, Obama Failed With The Keystone XL Pipeline

Obama “Sacrificed A Rich Source Of Petroleum” And Denied A Permit To Build The Keystone Pipeline. “The Obama administration announced Wednesday that it will deny a permit to build the Keystone XL pipeline, an important link between a U.S. market that’s thirsty for energy and a rich source of petroleum in nice, stable, neighborly Canada.” (Editorial, “Pipeline Politics: Misguided Obama Blocks Keystone Pipeline,” Chicago Tribune, 1/19/12)

Obama’s Decision To Postpone Ruling On The Keystone Pipeline Is A “Poorly Disguised Political Punt” With “2012 Presidential Politics Written All Over It.” “The Obama administration’s decision to postpone a ruling on the fate of the Keystone XL pipeline till 2013 is a poorly disguised political punt. The ruling has 2012 presidential politics written all over it, despite the environmental reasons given. By delaying a decision on the $7 billion project, which is ‘shovel-ready’ and would immediately produce an estimated 20,000 well-paying jobs in this country, Obama has avoided offending environmentalists on his party’s left, a key fund-raising and voting bloc. We understand that. In a close election, these votes could make a crucial difference for the president. But the administration’s attempts to cover this self-evident situation with a variety of fig leaves are utterly disingenuous.” (Editorial, “Keystone Pipeline Delay Is The Wrong Call,” Houston Chronicle, 11/11/11)

  • Obama’s Own State Department Said The Proposed Pipeline “Poses Little Environmental Risk.” “The State Department said Friday that a proposed pipeline slated to carry Canadian oil sands to Gulf Coast refineries poses little environmental risk if managed properly, a decision that moves the controversial project one step closer to final approval.” (Andrew Restuccia & Ben German, “Keystone Oil Sands Pipeline Moves One Step Closer To Approval,” The Hill’s E2 Wire,” 8/26/11)
  • The Pipeline Had Support From Four Unions. “The oil industry, 14 U.S. senators and four unions representing 2.6 million workers have pushed for swift approval of the pipeline, which they said would help keep energy costs down, stimulate $20 billion in spending for the U.S. economy and spur creation of 118,000 jobs.” (David Lerman & Jim Efstathiou Jr., “TransCanada Pipeline’s Environment Risk Limited, U.S. Finds,” Bloomberg, 8/26/11)

The Keystone Pipeline Was Expected To Result In As Many As 130,000 Jobs. “Many of those 20,000 jobs on the construction of the pipeline would have been filled by skilled union members. Eventually, the completed pipeline was expected to result in as many as 130,000 jobs, many of them on the upper Texas Coast, where the heavy oil would be refined into 700,000 barrels of oil daily.” (Editorial, “Keystone Pipeline Delay Is The Wrong Call,” Houston Chronicle, 11/11/11)

  • Obama Senior Adviser David Axelrod: “It Will Create Some Jobs” But That Doesn’t Matter. AXELROD: “Well, that is a point that’s in dispute. It will create some jobs and there’s no doubt about it. The estimates have run from 5,000 to the proponents of it say 100,000. But the point is, Joe, whatever happens with that pipeline, it has to make sense from the standpoint of the health and safety of the American people. And I think, you know, this was a State Department decision. I think it was the right decision.” (MSNBC’s “ Morning Joe,” 11/11/11)

As A Result Of Obama’s Decision On Keystone, Canada Is Determined To Find Diverse Buyers, Displaying A Newfound Willingness To Do Business With China. “Instead of blithely assuming the United States would purchase its oil, Canada is now determined to find diverse buyers so it won’t be held hostage by American politics. Hence, the newfound willingness to do business with China.” (Joe Nocera, Op-Ed, “Poisoned Politics Of Keystone XL,” The New York Times , 2/6/12)

  • While Obama Blocked The Keystone XL Pipeline Here, China Continues To Be Aggressive In Acquiring Stable Energy Resources. “The result could be higher prices industrywide for lucrative producing properties, as sellers hold out for better offers. ‘All the majors are looking to acquire, and if someone is out there being a lot more aggressive than you are, it makes people who are trying to sell hold on for a higher price, even if there's no chance the Chinese will buy them,’ said Laban Yu, head of oil and gas research at Jefferies Hong Kong Ltd., a securities and investment-banking firm. By overinvesting, he added, ‘China is essentially subsidizing oil for the whole world.’” (Brian Speagle and Wayne Ma, “Chinese Oil Companies’ Deal Appetite To Grow,” The Wall Street Journal , 7/24/12)

Obama’s War On Coal Is Putting Americans Out Of Work And Causing Spikes In Energy Costs

While Campaigning For President In 2008, Barack Obama Said That His Cap-And-Trade Program Would Bankrupt Coal-Powered Plants. OBAMA: “So, if somebody wants to build a coal plant, they can — it’s just that it will bankrupt them, because they are going to be charged a huge sum for all that greenhouse gas that’s being emitted.” (Sen. Barack Obama, Interview With The San Francisco Chronicle’s Editorial Board, San Francisco Chronicle, 1/17/08)

“Obama’s Goal, In Which Top EPA Officials And Liberals In Congress Cooperate Enthusiastically, Is To Wreck The Coal Industry.” “Obama’s goal, in which top EPA officials and liberals in Congress cooperate enthusiastically, is to wreck the coal industry. As we have pointed out, eliminating relatively low-priced electricity generated from coal will put many industries in this region at a competitive disadvantage against those elsewhere. That may well be part of the liberals’ strategy.” (Editorial, “End EPA War Against Coal,” The Intelligencer/Wheeling News Register , 1/1/12)

The Wall Street Journal: “Most Important, The EPA’s Regulatory Cascade Is A Clear And Present Danger To The Reliability And Stability Of The U.S. Power System And Grid.” (Editorial, “An EPA Moratorium,” The Wall Street Journal, 8/29/11)

  • New And Pending EPA Regulations Will Cost 1.65 Million Jobs. “Over the period from 2012 to 2020, about 183,000 jobs per year are predicted to be lost on net due to the effects of the four regulations. The cumulative effects mean that over the period from 2012 to 2020, about 1.65 million job-years of employment would be lost.” (“Potential Impacts Of EPA Air, Coal Combustion Residuals, And Cooling Water Regulations,” NERA Economic Consulting, September 2011)
  • “An Industry-Financed Study Found That New Air Pollution Rules Would Cost Tens Of Thousands Of Jobs And Raise Electricity Rates By More Than 20 Percent In Some Parts Of The Country.” (John M. Broder, “E.P.A. Sets New Standards For Coal-Burning Plants,” The New York Times, 7/7/11)
  • Retirement Of Coal Plants Will Raise Electricity Costs For Consumers. “Some utility officials said the new rules and others that the Obama administration plans to enact in the coming months could force the retirement of several coal plants. That, in turn, will raise electricity costs for consumers, said American Electric Power spokesman Pat Hemlepp.” (Juliet Eilperin & Darryl Fears, “EPA To Impose New Power Plant Rules,” The Washington Post , 7/7/11)

Obama Called The Mercury And Air Toxic Standards Rule A “Major Step Forward.” OBAMA: “Today’s issuance, by the Environmental Protection Agency (EPA), of the final Mercury and Air Toxics Standards rule for power plants (the ‘MATS Rule’) represents a major step forward in my Administration's efforts to protect public health and the environment.” (President Obama, “Flexible Implementation Of The Mercury And Air Toxics Standards Rule,” Presidential Memorandum , 12/21/11)

The Wall Street Journal Called The Utility MACT Rule “The Most Costly In The EPA’s History In Return For Marginal Benefits” That Could Compromise The Reliability Of The Electric System By Forcing A Large Portion Of The Country’s Coal Fired Power Plants To Close. “At issue is the so-called utility rule that would impose new limits on mercury and other hazardous air pollutants. The regulation is the most costly in the EPA’s history in return for marginal benefits. It was rushed out to force a large portion of the country’s coal-fired power plants to shut down. On top of other such de facto anticarbon rules, this could compromise the reliability of the electric system if as much as 8% of generating capacity is subtracted from the grid.” (Editorial, “Government Vs. EPA,” The Wall Street Journal, 10/11/11)

  • National Association Of Manufacturers: The EPA’s Utility MACT Rule, Coupled With The Cross-State Air Pollution Rule Will Cost Millions Of Jobs. “If implemented, the finalized Cross-State Air Pollution Rule and the proposed Utility MACT rule will cost an estimated 1.44 million jobs by 2020. These two rules will increase retail electricity prices nationwide by 11.5 percent and costs the electric sector a staggering $18 billion per year to comply. This will stifle investment and severely damage our competitiveness at a time when our economic recovery has stalled and the unemployment rate hovers at 9.2 percent.” (National Association Of Manufacturers, “EPA Utility Regulation Will Cost Jobs,” National Association Of Manufacturers , 8/4/11)

Energy Information Administration Expects 175 Coal-Fired Generators To Retire Between 2012 And 2016. “Plant owners and operators report to EIA that they expect to retire almost 27 gigawatts (GW) of capacity from 175 coal-fired generators between 2012 and 2016. In 2011, there were 1,387 coal-fired generators in the United States, totaling almost 318 GW. The 27 GW of retiring capacity amounts to 8.5% of total 2011 coal-fired capacity.” (“27 Gigawatts Of Coal-Fired Capacity To Retire over The Next Five Years,” Energy Information Administration, 7/27/12)

  • “The Cost Of Compliance With Anticipated And Existing Federal Environmental Regulations Such As The Mercury And Air Toxic Standards (MATS)” Is Attributed As A Factor To The Increase In Planned Coal Unit Retirements. “The cost of compliance with anticipated and existing Federal environmental regulations such as the Mercury and Air Toxics Standards (MATS) is a factor. Particularly in the case of older, smaller units that are not used heavily, owners may conclude it is more cost efficient to retire plants rather than make additional investments.” (“27 Gigawatts Of Coal-Fired Capacity To Retire over The Next Five Years,” Energy Information Administration, 7/27/12)

Trying To Pick Winners, Obama Has Overwhelmingly Favored Solar And Wind Despite Unfavorable Market Conditions And Now-Common Green Energy Failures

Obama: “Let’s double down on a clean energy industry that has never been more promising.” (President Barack Obama, Remarks on the Economy, Cuyahoga Community College, Cleveland, OH, 6/14/12)

  • Despite Obama Doubling Energy Subsidies, The “Fossil Fuels’ Overwhelming Market Advantages Have Produced A Litany Of Clean-Energy Failures, From Electric Cars To Solyndra.” “U.S. energy subsidies — spending, tax breaks, loan guarantees — increased from $17.9 billion in fiscal 2007 to $37.2 billion in fiscal 2010, according to the Energy Department. Yet fossil fuels’ overwhelming market advantages have produced a litany of clean-energy failures, from electric cars to Solyndra (Charles Lane, Op-Ed, “’Clean Energy’ Is Money Wasted,” The Washington Post ¸ 6/18/12)

Obama Promised To Create Five Million New Energy Jobs. OBAMA: “And then we can invest $15 billion a year in renewable sources of energy, building wind turbines and solar panel, a new electricity grid, the next generation of biofuels, invest in clean coal technology, find ways that we can create five million new jobs, new energy jobs, all across it country, jobs that pay well, jobs that can't be outsourced.” (Sen. Barack Obama, Remarks At Campaign Event, Cleveland, OH, 11/2/08)

  • The Wind Industry Has Shed 10,000 Jobs Since 2009. “The wind industry, for example, has shed 10,000 jobs since 2009 even as the energy capacity of wind farms has nearly doubled, according to the American Wind Energy Association. Meanwhile, the oil and gas industry has added 75,000 jobs since Obama took office, according to Labor Department statistics.” (Andy Sullivan, “Analysis: Obama's ‘Green Jobs’ Have Been Slow To Sprout,” Reuters, 4/13/12)
  • The Millions Of Green Energy Jobs Obama Promised Have Been Slow To Sprout. “But the millions of "green jobs" Obama promised have been slow to sprout, disappointing many who had hoped that the $90 billion earmarked for clean-energy efforts in the recession-fighting federal stimulus package would ease unemployment - still above 8 percent in March.” (Andy Sullivan, “Analysis: Obama's ‘Green Jobs’ Have Been Slow To Sprout,” Reuters, 4/13/12)
  • Clean-Technology Jobs Account For Just 2 Percent Of Employment Nationwide . “A study released in July by the non-partisan Brookings Institution found clean-technology jobs accounted for just 2 percent of employment nationwide and only slightly more — 2.2 percent — in Silicon Valley. Rather than adding jobs, the study found, the sector actually lost 492 positions from 2003 to 2010 in the South Bay, where the unemployment rate in June was 10.5 percent.” (Aaron Glantz, “Number Of Green Jobs Fails To Live Up To Promises,” The New York Times, 8/18/11)
  • At This Rate, The “Greening” Of The Economy Equates To Just 17 Jobs Per $1 Million Spent. “‘If you took the government’s stimulus program on green activities, you get 17 jobs more or less per $1 million of expenditure,’ said economist Robert Pollin of the University of Massachusetts Amherst, whom the Commerce Department hired to run the numbers.” (Ari Shapiro, “Is Obama’s Bet On Green Jobs Risky?,” National Public Radio, 6/13/11)

“The Green Economy Is Not Proving To Be The Job-Creation Engine That Many Politicians Envisioned.” “In the Bay Area as in much of the country, the green economy is not proving to be the job-creation engine that many politicians envisioned. President Obama once pledged to create five million green jobs over 10 years. Gov. Jerry Brown promised 500,000 clean-technology jobs statewide by the end of the decade. But the results so far suggest such numbers are a pipe dream.” (Aaron Glantz, “Number Of Green Jobs Fails To Live Up To Promises,” The New York Times, 8/18/11)

The Wall Street Journal: “The Obama Administration Has Managed The Nearly Impossible Feat Of Turning Energy Policy Into A Money Loser, Pouring Taxpayer Dollars Into Green-Energy Busts Like Solyndra.” (Editorial, “The Non-Green Job Boom,”The Wall Street Journal , 11/28/11)

  • The Wall Street Journal: “Better To Leave Commercial Financing Decisions To Private Investors And Bankers Who Are Likely To Take More Care With Their Own Money. Politicians Write The Press Releases First And Worry About The Taxpayer Losses Later.” (Editorial, “Your Cash For Their Clunkers,”The Wall Street Journal, 10/20/11)

OBAMA’S PLAN DIDN’T WORK FOR THESE NOW-BANKRUPT ‘GREEN’ COMPANIES DESPITE THE BILLIONS LOST IN TAX DOLLARS

Abound Solar Was Given A $400 Million DOE Loan Guarantee For “Plans To Open A Massive Solar-Panel Plant In Tipton,” Indiana. “Abound Solar Inc., a Loveland, Colo.-based manufacturer that plans to open a massive solar-panel plant in Tipton, has raised $110 million from investors and closed on a $400 million government loan guarantee to increase its production capacity, the company announced Tuesday.” (“Abound Solar Completes Financing For Tipton Plant,” Indianapolis Business Journal, 12/15/10)

  • “Abound Solar Filed For Bankruptcy On Monday And Will Liquidate, Becoming The Latest U.S. Solar Panel Company To Fold Despite Government Support.” (Caroline Humer, “Abound Solar Files To Liquidate in Bankruptcy,” Reuters, 7/2/12)

Beacon Power Was Awarded A $43 Million Federal Loan Guarantee In August 2010 To Build A 20-Megawatt Flywheel Energy-Storage Plant In Stephentown, NY. “In August 2010, Beacon Power was awarded a $43 million federal loan guarantee that the Tyngsboro, Mass., company used to put in place a 20-megawatt flywheel energy-storage plant in Stephentown, N.Y. The plant takes excess electric energy from the power grid and converts it into the energy of a spinning wheel, releasing it into the grid when needed. By June 30, the project had drawn down $38 million of the loan. Beacon also qualified for a $23 million grant from the DOE.” (Yuliya Chernova, “Renewable-Energy Firms Facing Financial Hurdles,” The Wall Street Journal, 10/27/11)

  • “Beacon … Sought Chapter 11 Protection On Oct. 30 In Delaware, Listing Assets Of $72 Million And Debt Totaling $47 Million, Including $39.1 Million Owed On A Government-Guaranteed Loan.” (Phil Milford and Dawn McCarty, “Ener1, Battery Maker, Seeks Chapter 11 Bankruptcy Protection,” Bloomberg, 2/8/12)

“The Energy Department In 2009 Approved A $118.5 Million Stimulus Grant For Enerdel, A Subsidiary Of The Company That Develops Lithium-Ion Batteries Used In Electric Vehicles.” (Andrew Restuccia, “Obama-Backed Electric Car Battery-Maker Files For Bankruptcy,” The Hill’s E2 Wire, 1/26/12)

  • Enerdel, Ener1, A Parent Company Of Energy Storage Company That Received A $118.5 Million Stimulus Grant, Filed For Bankruptcy. “An Indiana-based energy-storage company that received a $118.5 million stimulus grant from the Energy Department filed for bankruptcy Thursday. Ener1 is asking a federal bankruptcy court in New York to approve a plan to restructure the company’s debt and infuse $81 million in equity funding.” (Andrew Restuccia, “Obama-Backed Electric Car Battery-Maker Files For Bankruptcy,” The Hill’s E2 Wire, 1/26/12)

Energy Conversions Devices Received A $13 Million Stimulus Tax Credit. “ECD says it’s pushing ahead with plans to use the $13 million stimulus tax credit it received to upgrade other parts of its Auburn Hills operations to produce a new, more efficient line of solar cells. When ECD announced the Department of Energy award, it said the $42 million project would create about 600 additional jobs in Michigan.” (Joseph B. White, “Green Jobs That Can Be Outsourced, The Wall Street Journal’s Washington Wire, 8/11/10)

  • In February 2012, Energy Conversions Devices Inc., A Michigan Based Solar-Technology Company Filed For Bankruptcy Protection. “Energy Conversion Devices Inc., a pioneering Michigan-based solar-technology company, filed for bankruptcy protection Tuesday with a plan to slash its debt and sell its business at a court-supervised auction. The Auburn Hills, Mich., company filed for Chapter 11 protection in U.S. Bankruptcy Court in Detroit after it was unable to come to terms on an out-of-court deal with its convertible bondholders, according to Michael E. Schostak, director of business development at Energy Conversion Devices.” (Patrick Fitzgerald, “Energy Conversion Devices Files For Chapter 11,” The Wall Street Journal , 2/14/12)

Evergreen Solar Inc. Received $5.3 Million In Stimulus Grants. “Evergreen Solar Inc., reportedly received $5.3 million of stimulus cash through a state grant to install 11,000 photovoltaic panels installed at 11 colleges and universities, a recycling facility and an education center in Massachusetts.” (“Solyndra Not Sole Firm to Hit Rock Bottom Despite Stimulus Funding,” Fox News , 9/15/11)

  • In August 2011, Evergreen Solar Inc. Filed For Bankruptcy. “Evergreen Solar Inc. (ESLR), a maker of electricity generating solar panels, filed bankruptcy with plans to sell itself at an auction in order to pay creditors owed $485.6 million.” (Steven Church, “Evergreen Solar Seeks Bankruptcy With Plans TO Sell Itself,” Bloomberg, 8/15/11)

Mountain Plaza, Inc. Received $424,000 From A Federal Stimulus Fund Grant Despite Many Red Flags. “In July, Tennessee's transportation commissioner applauded the opening of the state's first truck- stop electrification terminal at TR Auto Truck Plaza in Dandridge, a project taxpayers paid for with a $424,000 federal stimulus fund grant. ... The Environmental Protection Agency and the Tennessee Department of Transportation approved the stimulus grant to Mountain Plaza Inc., the truck stop's owner, despite many red flags. The company, whose creditors included the state and federal governments, filed for bankruptcy protection in the middle of the process. A review of public records shows evidence of the company and its owner's past and present financial troubles was readily available.” (Brandon Gee, “E. Tenn. Truck Stop Got Stimulus Money Despite Bankruptcy,” The Tennessean, 10/2/11)

  • Mountain Plaza Inc. Went Bankrupt For A Second Time In June 2012 Just Days Before The EPA Awarded Stimulus Funds. “Despite Mountain Plaza Inc.'s 2003 bankruptcy, the EPA injected $424,000 in stimulus funds for the Tennessee company's "truck-stop electrification" technology. Nonetheless, Mountain Plaza again went bankrupt on June 3, 2010. EPA officially awarded those funds 12 days later, despite Mountain Plaza's insolvency and a related lawsuit.” (Deroy Murdock, “Deroy Murdock: Obama’s Green Projects Bleeding Red,” The Orange County Register, 7/19/12)

In 2010, Olsen’s Mills Of Olsen’s Crop Service, LLC. Was Awarded A $10,000,000 Loan Guarantee From The Department Of Agriculture’s Rural Business Cooperative Service. (“Prime Award Spending Data: 10149,” USASpending.gov , Accessed 7/31/12)

  • Olsen’s Mills Has Now Filed For Bankruptcy Protection. “The government dumping close to $18 million into Spectrawatt, Evergreen Solar, Olsen's Crop Service and Mountain Plaza, Inc. And all four companies are now in bankruptcy.” (Fox Business News, “Lou Dobbs Tonight, ” 9/16/11)

Raser Technologies Received $33 Million For A Geothermal Plant In Utah But Is Now Bankrupt. “Raser Technologies Inc., for example, filed for bankruptcy protection last April, after receiving a $33 million grant for a geothermal plant in Beaver County, Utah. Lecia Langston, a Utah state economist, said the plant now has fewer than 10 employees.” (Ianthe Jeanne Dugan and Justin Scheck, “Cost Of $10 Billion Stimulus Easier To Tally Than New Jobs,” The Wall Street Journal, 2/24/12)

Solyndra Was Offered The First Recovery Act Loan Guarantee, Receiving $535 Million From Taxpayers In March 2009. (“Solyndra Offered $535 Million Loan Guarantee By The U.S. Department Of Energy,” Press Release, 3/20/09)

  • In August 2011, Solyndra Announced That It Will File For Bankruptcy, “Immediately Laying Off 1,100 Employees.” “Solyndra, a Fremont solar tech manufacturer, announced Wednesday it is suspending operations and immediately laying off 1,100 employees. The company said it will also file for bankruptcy.” (George Avalos, “Fremont Solar Tech Firm Solyndra To Shut Down, Lay Off 1,100 Workers,” The San Jose Mercury News, 8/31/11)

SpectraWatt Received $500,000 From An Energy Department Grant in June 2009, $150,000 From The National Science Foundation in June 2010, And Filed For Bankruptcy In August 2011. “SpectraWatt scored a $500,000 grant from the DOE in June 2009 and $150,000 from the National Science Foundation in June 2010. Facing stiff Chinese competition, this solar-cell manufacturer closed its factory in Hopewell Junction, N.Y., and dismissed all 117 workers in April 2011. SpectraWatt filed for Chapter 11 bankruptcy protection Aug. 19, 2011.” (Op-Ed, “Obama’s ‘Green’ Projects Bleed Red Ink,” Abilene Reporter-News, 7/24/12)

  • SpectraWatt Has Filed For Chapter 11 Bankruptcy. “After closing its doors and laying off workers earlier this year, SpectraWatt Inc. has filed for Chapter 11 bankruptcy protection. The solar cell maker's choice of Chapter 11 protection indicates a plan to auction its assets, perhaps as soon as Sept. 28 if the U.S. Bankruptcy Court grants its proposal.” (Sarah Bradshaw, “SpectraWatt files For Chapter 11, Seeks Asset Auction,” Poughkeepsie Journal, 8/24/11)

Thompson River Power Received $6.5 Million Through The American Recovery And Reinvestment Act. “The Treasury paid Thompson River $6.5 million in 2010 from a piece of the American Recovery and Reinvestment Act known as Section 1603 that reimbursed developers of renewable energy with cash payments equivalent to 30% of their projects' costs. ” (Justin Scheck, “U.S. To Seek Clawback Of Closed Montana Plant’s Funds,” The Wall Street Journal , 7/17/12)

  • In July, Thompson River Filed For Chapter Seven Bankruptcy. “On July 3, Thompson River filed for Chapter 7 bankruptcy, under which a company liquidates its assets to pay creditors. It has listed $26 million in assets and $6.6 million in liabilities.” (Justin Scheck, “U.S. To Seek Clawback Of Closed Montana Plant’s Funds,” The Wall Street Journal , 7/17/12)

Around The Kitchen Table, Families Don’t Consider Obama’s Anti-Energy Agenda To Be Working

Utilities Cost: “Utilities Say New EPA Actions Planned For Coming Months Will Drive Up The Cost Of Electricity.” (James Bruggers, “EPA Moves To Curb Interstate Pollution,” The Courier-Journal , 7/7/11)

The EPA Estimates That The Utility MACT Rule Will Cost $1.9 Billion . (National Emission Standards For Hazardous Air Pollutants For Major Sources: Industrial, Commercial, And Industrial Boilers And Process Heaters, 76 FR 15608, Federal Registry , Accessed 7/31/12) - update access date

More Than 32 Coal Fired Plants That Produce Enough Electricity For More Than 22 Million Households In 12 States Will Be Forced To Shut Down Due To EPA Regulations. “More than 32 mostly coal-fired power plants in a dozen states will be forced to shut down and an additional 36 might have to close because of new federal air pollution regulations, according to an Associated Press survey. Together, those plants -- some of the oldest and dirtiest in the country -- produce enough electricity for more than 22 million households, the AP survey found. But their demise probably won’t cause homes to go dark.” (Dina Cappiello, “AP IMPACT: EPA Rules Threaten Older Power Plants,” The Associated Press, 12/19/11)

Gas Prices: At The End Of July 2012, The Price For A Gallon Of Regular Gasoline Was $3.508 Under President Obama. (Energy Information Administration, Accessed 7/31/12)

  • When Obama Took Office, The Price For A Gallon Of Regular Gasoline Was $1.847. (Energy Information Administration, Accessed 2/7/12)
  • Obama’s Own Energy Secretary Steven Chu Said They Were Not Working To Lower Gasoline Prices Directly. “The Energy Department isn’t working to lower gasoline prices directly, Secretary Steven Chu said Tuesday after a Republican lawmaker scolded him for his now-infamous 2008 comment that gas prices in the U.S. should be as high as in Europe. Instead, DOE is working to promote alternatives such as biofuels and electric vehicles, Chu told House appropriators during a hearing on DOE’s budget. But Americans need relief now, Rep. Alan Nunnelee (R-Miss.) said — not high gasoline prices that could eventually push them to alternatives. … ‘But is the overall goal to get our price’ of gasoline down, asked Nunnelee. ‘No, the overall goal is to decrease our dependency on oil, to build and strengthen our economy,’ Chu replied. ‘We think that if you consider all these energy policies, including energy efficiency, we think that we can go a long way to becoming less dependent on oil and [diversifying] our supply and we’ll help the American economy and the American consumers.’” (Alex Guillen, “Chu: DOE Aims To Wean U.S. Off Oil,” Politico, 2/28/12)

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