Dial back the clock one decade to October, 2012. From solar power and hydroelectric power companies, to geothermal organizations, to electric car manufacturers, the Obama administration invested billions of taxpayer dollars in these businesses, and most of them went bankrupt faster than they could even build a warehouse to start "saving the planet." More taxpayer funded green energy companies that pop up and disappear – isn't that called embezzlement?
Crashing the US economy, printing trillions of dollars and fueling unnecessary wars is not the way to build or rebuild America. Take a good look at the complete list of faltering and bankrupt green-energy companies under Obama's watch. The *symbol denotes companies that have filed for bankruptcy:
Evergreen Solar ($25 million)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel’s subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
Fisker Automotive ($529 million)
Abound Solar ($400 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($700,981)*
Johnson Controls ($299 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.5 million)*
Stirling Energy Systems ($7 million)*
Azure Dynamics ($5.4 million)*
Vestas ($50 million)
LG Chem’s subsidiary Compact Power ($151 million)
Nordic Windpower ($16 million)*
Navistar ($39 million)
Satcon ($3 million)*
Konarka Technologies Inc. ($20 million)*
Mascoma Corp. ($100 million)
Now Biden, led by Obama none-the-less, is running another "Green Energy" scam, a Ponzi scheme, an embezzlement agenda, and we're already seeing companies go bankrupt, as their hundreds of millions of dollars mysteriously disappear, before they're even functional. Just take a look at Electric "Last Mile Solutions" (ELMS) for electric cars, for a current example. They're going bankrupt just ONE YEAR after start up. Yes, "last mile" is an appropriate name because they're not going anywhere at all.
Democrat-run "Green Energy" companies are nothing more than a Ponzi scheme using taxpayer funds. Embezzlers create receipts and bills for activities that never even occur, then they embezzle those funds and use them for personal expenses, endeavors and even other investments. Ponzi schemes are perfect examples of embezzlements, where the people in charge destroy employee records, pocket company cash and 'lose' millions and even billions of dollars every year to theft (that's usually planned in advance).
Obama's Department of Energy was responsible for doling out hundreds of millions of dollars in federal money to these Ponzi scheme so-called green companies. Even global warming is a Ponzi scheme, as we see by long term graphs that Earth is not heating up, but rather in a slow cooling phase. Meanwhile China and India are polluting the world ten times more than the USA and nobody is saying or doing anything about that.
Tune your internet frequency to ClimateAlarmism.news for updates on more Ponzi schemes initiated and carried out by the Biden-Obama Regime.
Sources for this article include: