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| What You’ve Heard About Solyndra Is One Big Republican Lie | |
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| Tweet Topic Started: Jan 26 2017, 05:57 PM (207 Views) | |
| _g R_ | Jan 26 2017, 05:57 PM Post #1 |
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You see, the government office that was responsible for Solyndra, the U.S. Energy Department’s Loan Programs Office (LPO), is actually now turning a profit. They reported last week that the program is not only making a profit, but that they are on track to make at least another $5 Billion. Although I doubt that you’ll hear anything about this story on Fox. The fact of this matter is that the LPO was created to invest in green energy technologies and some nuclear energy projects. And Solyndra only represented about 1% of the LPO’s portfolio. According to the National Journal, “The agency has lent a total of $34.2 billion with the aim of speeding development of clean-energy technology, and companies have defaulted on just $780 million of that so far, a loss rate of roughly 2 percent. In addition, the agency has collected $810 million in interest, putting the program $30 million in the black.” “The findings are particularly striking because the program was never expected to make money. When it was created in 2005, Congress predicted there would be losses and set aside $10 billion to cover them.”... http://samuel-warde.com/2014/11/youve-heard-solyndra-one-big-republican-lie/ |
| The real leftists are the silenced majority, the sleeping giant. | |
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| clone | Jan 26 2017, 06:27 PM Post #2 |
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Director @ Center for Advanced Memetic Warfare
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So Solyndra going under was a lie? Ah OK..... :oyvey |
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Only liberals can choose not to go down the road to widespread, systematic violence. | |
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| _g R_ | Jan 27 2017, 10:53 AM Post #3 |
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The constant negative reporting by Fox News and all the right wing media about Solyndra was a PR campaign by the fossil fuel industry against solar energy. |
| The real leftists are the silenced majority, the sleeping giant. | |
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| PATruth | Jan 27 2017, 11:22 AM Post #4 |
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Solyndra defaulted on a 535 million dollar loan, that is a fact. I don't recall anyone claiming the entire program lost money? That said isn't this just another multi-billion dollar corporate welfare scheme? Are you now FOR corporate welfare? I thought you were AGAINST corporate welfare? Overall, the agency has loaned $34.2 billion to a variety of businesses, under a program designed to speed up development of clean-energy technology. Companies have defaulted on $780 million of that — a loss rate of 2.28 percent. The agency also has collected $810 million in interest payments, putting the program $30 million in the black. Also, caution should be taken, government accounting is one of the few things worse than government programs. Are these fully loaded costs? I doubt it. |
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"No. No he won't. We'll stop it." | |
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| thoughtless | Jan 27 2017, 02:00 PM Post #5 |
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This kind of fake news is common: "Taxpayers are on the hook for more than $2.2 billion in expected costs from the federal government’s energy loan guarantee programs, according to a new audit Monday that suggests the controversial projects may not pay for themselves, as officials had promised." from Obama clean energy loans leave taxpayers in $2.2 billion hole |
| Without geometry, life is pointless. | |
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| nNeo | Jan 27 2017, 02:07 PM Post #6 |
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of course the article also says "it's too soon to tell if it will pay off", and the audit was from 2015, so there's a lot of spin and speculation going both ways. Also "Obama's" program is actually from 2005, so it's Bush's baby as much as O's. The real story should probably be something like "hey, we're gambling with your taxes as usual" |
| “Strong people don’t need strong leaders.” | |
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| _g R_ | Jan 28 2017, 12:08 AM Post #7 |
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https://www.bloomberg.com/news/articles/2016-01-20/u-s-army-buys-65-megawatts-of-wind-and-solar-for-fort-hood https://www.scientificamerican.com/article/energy-security-drives-u-s-military-to-renewables/ https://cleantechnica.com/2016/12/07/us-military-solar-power-programs-face-trump-axe-quick-call-ivanka/ https://www.nrdc.org/stories/more-wind-and-solar-farms-thanks-pentagon-partnership http://www.apexcleanenergy.com/news/us-army-signs-power-purchase-agreement-apex-clean-energy-hybrid-windsolar-energy-project ![]() U.S. ARMY SIGNS POWER PURCHASE AGREEMENT WITH APEX CLEAN ENERGY FOR HYBRID WIND/SOLAR ENERGY PROJECT Charlottesville, VA – January 20, 2016 – Defense Logistics Agency (DLA) Energy, in coordination with the U.S. Army Office of Energy Initiatives (OEI) and Fort Hood, has signed a Renewable Energy Supply Agreement (RESA) with Apex Clean Energy Holdings, LLC, for 65.8 MW of electricity from a combination of large-scale renewable energy solar and wind facilities to serve Fort Hood in Texas. The Army is expected to pay about $168 million less than what it would pay for power from the traditional electricity grid over the course of the 28-year agreement. |
| The real leftists are the silenced majority, the sleeping giant. | |
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