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        Discussion Lights go dim on yet another Obama energy project

#1 P-51C Jul 05, 2012 02:36 PM

Lights go dim on yet another Obama energy project
 
The taxpayers may be on the hook for yet another one;

"A geothermal energy company with a $98.5 million loan guarantee from the Obama administration for an alternative energy project in Nevada — which received hearty endorsements from Energy Secretary Steven Chu and Senate Majority Leader Harry Reid — faces financial problems, and the company’s auditors have questioned whether it can stay in business.

Much like Solyndra LLC, a California solar-panel manufacturer with a $535 million federal loan guarantee that went bankrupt, Nevada Geothermal Power (NGP) has incurred $98 million in net losses over the past several years, has substantial debts and does not generate enough cash from its current operations after debt-service costs, an internal audit said."

http://www.washingtontimes.com/news/...nergy-project/

#2 logan5 Jul 05, 2012 02:42 PM

meh ... what's new? Another Government failed venture capital failure. Another failure to place on the wall of ineptitude.

#3 Real Ira Jul 05, 2012 02:48 PM

How many of these will it take for the majority of the people to see a pattern? :rolleyes:

#4 logan5 Jul 05, 2012 02:51 PM

Quote:

Originally Posted by Real Ira (Post 22082582)
How many of these will it take for the majority of the people to see a pattern? :rolleyes:

There is a certain percentage of the population that will never see the pattern ... you can't miss them ... they carry pom poms.

#5 BE77 Pilot Jul 05, 2012 02:51 PM

Quote:

Originally Posted by Real Ira (Post 22082582)
How many of these will it take for the majority of the people to see a pattern? :rolleyes:

The majority have no clue. :rolleyes:

#6 Big Foot 48 Jul 05, 2012 03:29 PM

They claim they are still making payments on the Fed loan. For now.

Why don't they just raise their rates to $1.00/kwh and have Obama buy the power for the nearest military bases as part of his green agenda? They make a nice profit and survive and the deficit goes up and "Obama The Deficit Killer" looks the other way.

#7 56S Jul 05, 2012 07:24 PM

Quote:

Originally Posted by Real Ira (Post 22082582)
How many of these will it take for the majority of the people to see a pattern? :rolleyes:

Here's another one. :p

http://www.hawaiinewsnow.com/story/1...are-bankruptcy

This isn't even the one I was looking for.:(

#8 56S Jul 05, 2012 07:28 PM

Nope, not it either. http://cnsnews.com/news/article/9-bi...98-million-job

#9 logan5 Jul 05, 2012 07:32 PM

It's like you can't throw a rock without it hitting some failed government 'investment' these days.

#10 56S Jul 05, 2012 07:40 PM

Getting closer... http://sunetric.com/blog/post/u-s-de...reener-hawaii/

Bingo! http://www.bizjournals.com/pacific/s....html?page=all

Only 175 million.

#11 56S Jul 05, 2012 07:40 PM

Quote:

Originally Posted by logan5 (Post 22084865)
It's like you can't throw a rock without it hitting some failed government 'investment' these days.

That's much nicer than saying you can't swing a dead .....:)

#12 RCWorks Jul 05, 2012 08:16 PM

I have one question...

How much money did they give Obama to get elected? Then you will know why they got our money.

#13 Pipemajor Jul 05, 2012 09:13 PM

Guess we should have quit when that first rocket blew up on the pad.
Or the second. Or third, or fourth, or fifth...

We never did make a profit by going to the moon, did we?

Early US rocket launches and failures (9 min 57 sec)

#14 rcjetpilot Jul 05, 2012 09:15 PM

Quote:

Originally Posted by logan5 (Post 22082534)
meh ... what's new? Another Government failed venture capital failure. Another failure to place on the wall of ineptitude.

Dooood..... its green man... its the future... :rolleyes:

#15 rcjetpilot Jul 05, 2012 09:16 PM

Quote:

Originally Posted by Pipemajor (Post 22085669)
Guess we should have quite when that first rocket blew up on the pad.
Or the second. Or third, or fourth, or fifth...

We never did make a profit by going to the moon, did we?

Apples and oranges... and abject modern liberalism thought.


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