A top official with California’s public employee pension system admitted this week that its holdings in green energy companies have lost hundreds of millions of dollars.
Opposition is growing to the Environmental Protection Agency’s proposed regulations on new power plants and the Obama administration is considering revising the rules, according to news reports.
Republicans are considering a new push against what they say are wasteful “green” subsidies in light of news that a recipient of a major stimulus grant for electric vehicle batteries paid workers to watch movies and play games while failing to produce a single battery.
A House Energy and Commerce Committee report released on Thursday shows much of the money in a Department of Energy renewable-energy grant program has gone to foreign companies and has failed to produce many jobs.
The green lobby is apparently not flocking to Washington to celebrate President Barack Obama’s second inauguration as the the president’s energy policies have slowed oil drilling on federal lands and boosted green energy technologies. The Green Inaugural Ball is offering reduced price tickets on Groupon, cutting the price for both the basic and VIP tickets significantly.
Battery-manufacturer A123 Systems Inc., which received a $249 million grant under President Barack Obama’s green energy initiative, received nearly $1 million from the federal government the same day it declared bankruptcy, Reuters reports.
The Department of Defense has launched more green energy initiatives than any other federal agency and many are duplicative and wasteful, according to a report released Thursday by Sen. Tom Coburn (R., Okla.).
President Barack Obama’s taxpayer-financed “investments” in green energy firms netted huge profits for company executives even as they cost taxpayers millions, a recent Washington Examiner analysis found.
President Barack Obama appears to be doubling down on his policies of using taxpayer money to finance green energy investments despite an increasingly spotty track record.
President Obama is touting his energy policies during the debate, but his policies have been to subsidize companies that go bankrupt, like A123.