Mounting resistance against President Obama’s seemingly anti-oil agenda, the Republican-led House passed a bill Wednesday that would displace the administration’s new offshore drilling plan. However, the measure is doomed for failure in the Senate, which has prompted Democrats to blast the attempt as a political maneuver made by disgruntled Republicans who oppose the president’s energy policies.
Another American solar firm is purportedly in financial disarray after receiving millions of dollars in grants from the U.S. Department of Energy (DOE). Only a year after it opened, the Amonix solar manufacturing plant located in North Las Vegas has idled production, leaving serious questions about the company’s financial viability and whether taxpayers will be burdened with another multi-million-dollar DOE-subsidized boondoggle.
Speaking at a campaign event in Cincinnati, Ohio on Monday, President Obama insisted that he does not make the same mistake twice, and that he would remain steadfast in his efforts to subsidize the “green” energy industry.
Acting on the Obama administration’s inexorable push for alternative fuel, a gas station in Lawrence, Kansas, has become the first in the nation to offer E15 fuel, a blend containing 15 percent ethanol and 85 percent gasoline.
The Obama administration's problems continue to mount because of its financial support of the so-called green industry. Perhaps the most well-known example of such boondoggles is the solar panel firm Solyndra, which went bankrupt last fall after a federal loan guarantee of $535 million. And there have been a string of other such clean energy company bankruptcies since then, at a huge waste of taxpayer money.
It now appears that yet another solar energy company heavily underwritten by federal loans, Abound Solar in Colorado, will declare bankruptcy and leave the taxpayers holding $70 million in loans.