Lights go dim on yet another Obama energy project - RC Groups
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Jul 05, 2012, 03:36 PM
Reserved Parking
P-51C's Avatar
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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/
Jul 05, 2012, 03:42 PM
Libertas in Infinitum
logan5's Avatar
meh ... what's new? Another Government failed venture capital failure. Another failure to place on the wall of ineptitude.
Jul 05, 2012, 03:48 PM
Not THAT Ira
Real Ira's Avatar
How many of these will it take for the majority of the people to see a pattern?
Jul 05, 2012, 03:51 PM
Libertas in Infinitum
logan5's Avatar
Quote:
Originally Posted by Real Ira
How many of these will it take for the majority of the people to see a pattern?
There is a certain percentage of the population that will never see the pattern ... you can't miss them ... they carry pom poms.
Jul 05, 2012, 03:51 PM
SUPERDOG!
BE77 Pilot's Avatar
Quote:
Originally Posted by Real Ira
How many of these will it take for the majority of the people to see a pattern?
The majority have no clue.
Jul 05, 2012, 04:29 PM
Alarm Bells Softening!
Big Foot 48's Avatar
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.
Jul 05, 2012, 08:24 PM
56S
56S
Certified Balsa Breaker
56S's Avatar
Quote:
Originally Posted by Real Ira
How many of these will it take for the majority of the people to see a pattern?
Here's another one.

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

This isn't even the one I was looking for.
Jul 05, 2012, 08:28 PM
56S
56S
Certified Balsa Breaker
56S's Avatar
Nope, not it either. http://cnsnews.com/news/article/9-bi...98-million-job
Jul 05, 2012, 08:32 PM
Libertas in Infinitum
logan5's Avatar
It's like you can't throw a rock without it hitting some failed government 'investment' these days.
Jul 05, 2012, 08:40 PM
56S
56S
Certified Balsa Breaker
56S's Avatar
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.
Jul 05, 2012, 08:40 PM
56S
56S
Certified Balsa Breaker
56S's Avatar
Quote:
Originally Posted by logan5
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 .....
Jul 05, 2012, 09:16 PM
It's ok to be white.
RCWorks's Avatar
I have one question...

How much money did they give Obama to get elected? Then you will know why they got our money.
Jul 05, 2012, 10:13 PM
Bagpipes spoken here
Pipemajor's Avatar
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)
Last edited by Pipemajor; Jul 06, 2012 at 06:53 AM.
Jul 05, 2012, 10:15 PM
Suspended Account
Quote:
Originally Posted by logan5
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...
Jul 05, 2012, 10:16 PM
Suspended Account
Quote:
Originally Posted by Pipemajor
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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