“You don’t pick winners and losers. You pick losers.”
–Mitt Romney to President Obama at the first presidential debate
But as far as his political cronies are concerned, he picks winners.
Both here and at Michelle’s place we talk a lot about the “green jobs” sham. The Heritage Foundation has compiled a list of all the taxpayer backed companies that have declared bankruptcy or probably will soon, along with the amount of money taxpayers could be on the hook for:
So far, 36 companies that have received federal support from taxpayers have either gone bankrupt or are laying off workers and are heading for bankruptcy. This list includes only those companies that received federal money from the Obama Administration’s Department of Energy. The amount of money indicated does not reflect how much was actually received or spent but how much was offered. The amount also does not include other state, local, and federal tax credits and subsidies, which push the amount of money these companies have received from taxpayers even higher.
The complete list of faltering or bankrupt green-energy companies:
1.Evergreen Solar ($24 million)*
3.Solyndra ($535 million)*
4.Beacon Power ($69 million)*
5.AES’s subsidiary Eastern Energy ($17.1 million)
6.Nevada Geothermal ($98.5 million)
7.SunPower ($1.5 billion)
8.First Solar ($1.46 billion)
9.Babcock and Brown ($178 million)
10.EnerDel’s subsidiary Ener1 ($118.5 million)*
11.Amonix ($5.9 million)
12.National Renewable Energy Lab ($200 million)
13.Fisker Automotive ($528 million)
14.Abound Solar ($374 million)*
15.A123 Systems ($279 million)*
16.Willard and Kelsey Solar Group ($6 million)
17.Johnson Controls ($299 million)
18.Schneider Electric ($86 million)
19.Brightsource ($1.6 billion)
20.ECOtality ($126.2 million)
21.Raser Technologies ($33 million)*
22.Energy Conversion Devices ($13.3 million)*
23.Mountain Plaza, Inc. ($2 million)*
24.Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
25.Range Fuels ($80 million)*
26.Thompson River Power ($6.4 million)*
27.Stirling Energy Systems ($7 million)*
28.LSP Energy ($2.1 billion)*
29.UniSolar ($100 million)*
30.Azure Dynamics ($120 million)*
32.Vestas ($50 million)
33.LG Chem’s subsidiary Compact Power ($150 million)
34.Nordic Windpower ($16 million)*
35.Navistar ($10 million)
36.Satcon ($3 million)*
*Denotes companies that have filed for bankruptcy.
Al Gore least hardest hit by this insanity.
It’s an ingenius scheme: Invent “climate crisis”; propose government fund “clean energy” companies to save the planet; government spends billions of taxpayer dollars starting “green” projects; Al Gore and others invest some personal cash; if the company crashes, Gore et al recover their investments while taxpayers take a bath; government applauds the few government-backed companies that are successful (for a while anyway) while Al Gore & friends reap dividends from that investment while taxpayers… you guessed it… still see nothing.
Romney’s wrong in a sense: Obama does pick some winners — it’s just that you have to be an administration crony to qualify. And he certainly chooses losers, not the least of which are taxpayers.