It seems to have been used to shore up an organisation that was already in trouble. Nevada Democrat Sen. Harry Reid was a strong supporter of the loan given to Nevada Geothermal. The loan was included in the $814 billion stimulus bill in 2010, thanks to the senator’s efforts. Visit our website https://www.unifiedpatriots.com/2018/04/22/enviro-activists-celebrate-first-energy-filing-bankruptcy
A123 Systems was another corporation that left the taxpayer with a $249.1 million bill. Because of a lack of revenue in the electric car market, the battery maker for electric cars filed for Chapter 7 bankruptcy. After seeing the failure of the Chevy Volt, this comes as no surprise.
Over the last ten years, the federal government has made a concerted effort to subsidise and mandate clean energy on a large scale. The only issue is that it is not a cost-effective option and has unintended effects. Take a look at Spain, which has a high unemployment rate of more than 20%, to see an example of a failed green economy. The green movement claims to protect the atmosphere, but ecologists have reported that birds are being killed and chopped up at massive wind farms. Towns in New England are complaining about the constant noisy noise produced by the wind turbines they use.
Many energy experts believe that rational solutions to our energy challenges exist. Using technology, the coal industry has been able to become a clean-burning source of energy while still being able to use the huge reserves of coal that are now being sold overseas. The United States has vast oil and natural gas reserves that can be exploited with little to no environmental impact and without spending a penny of taxpayer money. The taxpayer is getting tired of paying the bill as the number of federally subsidised green companies that are declaring bankruptcy grows. The CEOs of the Green companies and the bankruptcy attorney who represents them are the only ones who profit from these investments.