Solyndra debacle may be tip of the iceberg for new waste

GUEST COLUMN, Larry Phillips, Kismet

This is Part 1 of a series looking into how President Joe Biden and his gang of leftist progressives benefit from millions, nee billions, in the worldwide scam called the Green New Deal.

President Joe Biden recently gave a speech, written by God knows who, touting America’s strengths while rebuffing Russia’s psychopath President Putin, who has warned the world he will use nuclear bombs – “And I’m not bluffing.”

As the speech began, television cameras zoomed in on the U.S. seat in the U.N., and there sat John Kerry with State Department Secretary Antony Blinken (what a dangerous pair).

Kerry? 

The jet-setting climate boogeyman? 

Why?

Well, after our Liar-In-Chief spent a few minutes on trying to convince everybody older than 4 years old that he’s a tough guy, he went into an insane spiel about climate change and how he’s going to spend $379 billion on changing the earth’s weather.

He also promised a passel of third-world countries are going to get a bunch of cash from that “huuuuge” chunk of change, too. You could see many of them licking their chops at the prospect.

It was apparent every word of that climate scam in his speech was written by none other than Kerry. 

Unbelievable.

We have a mad man who is threatening World War III, who is being backed now by China (who owns “The Big Guy,” and Biden is telling the UN folks the Earth is flat and he’s going to dump $379 billion of Americans’ tax dollars down another toilet – just as he and his former boss, Barack Hussein Obama, did during Barack’s reign.

Problem is, the toilet is actually friends, business partners and campaign money-men for Obama and Joe – just like it was 15 years ago.

I briefly discussed the firm Solyndra a few weeks ago. If you remember, “Solyndra was founded in Silicon Valley in 2004. The company planned to build solar panels, and while Solyndra’s panels were more expensive to make, they were supposed to be cheaper to install,” according to a June 1, 2012, report by Rachel Weiner and posted at www.washingtonpost.com.

“The following year, the company was invited to apply for a government-guaranteed loan under the Energy Policy Act of 2005 – a law designed to ‘support innovative clean energy technologies.’”

Did you catch that terminology? “Clean energy technologies?” The continuing changes from destroying the ozone to that and now it’s “climate change” green technologies. Folks, history will prove this scam, and that’s what it is, is now morphing into it’s intended agenda. 

And that is nothing more than a 21st century chapter added to the Communist Rules Of Revolution, a book they proudly sell today (probably out of the White House gift shop).

“In March 2009, Energy Secretary Steven Chu announced a $535 million conditional loan guarantee to Solyndra – making it the first to receive a loan since the 2005 program began,” Weiner reported. “At that point, administration officials pushed for the DOE to hasten its final decision on approving the loan so Vice President Joe Biden could announce it on a planned trip to California. The loan was funded with stimulus money and formally announced in September 2009.”

Trouble was, Solyndra was already facing serious problems before Biden made the announcement.

“In February of 2008 the price of polysilicon began to fall sharply, while Solyndra’s claims of cheaper installation costs were also in doubt,” Weiner wrote. “Chinese firms started to crowd out American ones on the solar panel market. Natural gas prices also fell, making investments in more or comparatively more expensive alternative energy less attractive.”

While the Administration was aware this “deal” was falling apart, “Obama visited the company in a high-profile press event in May 2010, despite some of the warnings,” Weiner reported. “The Energy Department persuaded the firm to delay layoffs until after the 2010 midterm elections, according to those emails.”

Those emails Weiner referred to were uncovered in a March of 2010, independent audit by PriceWaterhouseCoopers.

That audit “questioned whether Solyndra could survive as a business, and even administration staff and close Obama allies in the venture capital world warned the White House about whether the company was a good bet, according to internal administration emails,” Weiner added.

Did you notice the auditors mentioned “close Obama allies in the venture capital world?”

Ah ha!

The federal funding to Solyndra was originally $535 million, but “the DOE had learned in December 2010 that Solyndra could not make its loan payment, in violation of its federal loan deal,” Weiner reported in her article. “Solyndra executives had been privately warning administration officials that the firm was at risk of liquidation.”

Now here’s some information most folks missed: “In February 2011, the department (DOE) restructured the loan, with some investors agreeing to provide Solyndra $75 million more in financing,” Weiner noted. The DOE was covering that, too.

It gets more insidious, though.

“Part of the deal was that the private investors, including family funds connected to Obama fundraising bundler George Kaiser, would be paid back before the government if Solyndra collapsed,” Weiner reported. “The Kaiser-tied funds were already the largest investors in Solyndra.”

In August 2011, the company filed for bankruptcy.

It was only a $610 million cost to taxpayers for Solyndra, but be mollified the “private investors” (Obama’s friends) were paid off – their bets were covered and then some.

Folks this was only one shoe to drop during this entire “clean technology” scam which proliferated under the Obama-Biden Administration.

In Part 2 of this series, I’ll show how and who profited from all the “clean technologies” pushed down Americans’ throats in the guise of controlling earth’s weather. There were millions handed over to major leftists and progressive Democrats.

It’s sickening, and Biden is going to do it all again but with $379 billion – with a B.