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More Loan Disasters Like Fisker and Solyndra Could Be On the Way

The DOE is attempting to revive the infamous alternative energy loan program from its embarrassing hibernation... Do we learn nothing?

by
Becky Graebner

Bio

August 29, 2013 - 11:58 am
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fisker-logo

Fail.

As quoted from The Detroit Bureau:

But proponents point to the need to rush new technologies to market to meet upcoming increases in fuel economy standards – and they point to California start-up Tesla Motors as a successful example of what the ATVM program was meant to achieve.

I really hate the word “rush”…

Yes, I get the need to start some serious R&D on new projects to meet the impending guidelines on fuel economy, but let’s not waste taxpayer dollars in order to meet this goal. Until we have a better grasp on battery capabilities and the prices for electric vehicles fall to affordable levels (let’s go with less than $40,000 for a car) so that people can actually BUY them, I think we should be cautious. If this program ever gets off the ground again, there needs to be a serious revamp. Stricter requirements for loan applicants, more oversight regarding how recipients use the money, and instantaneous termination from the program if the company runs into trouble should all be present in DOE Loan Program Part Deux. Fifteen billion dollars is maturing in a make-believe bank account somewhere, waiting to be fed to hungry start-ups and established companies — we should make the most of it.

Here’s to crossing our fingers that the government learns from their past mistakes.

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Becky Graebner moved to the east coast from Wisconsin in 2011. She is still a rabid Badger and Packer fan, although she does support the Caps in hockey. She enjoys Formula 1 and Indycar. She likes the eastern seaboard but does miss track days with friends and family at Elkhart Lake and the Milwaukee Mile. Her favorite drivers are Kenny Brack and Robby Gordon.

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All Comments   (8)
All Comments   (8)
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my friend's aunt makes $74 hourly on the laptop. She has been laid off for seven months but last month her pay check was $19184 just working on the laptop for a few hours. you can try this out

http://www.Rush60.com

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33 weeks ago
33 weeks ago Link To Comment
How about let's pour some intellectual energy into implementing strategies for reversing arbitrary fuel economy standards constantly imposed on us based on nothing but political whim?
33 weeks ago
33 weeks ago Link To Comment
"...a serious revamp"

Like...the head of Solyndra shouldn't be rewarded with DOE cash for being a big Obama money bundler ?

"Here’s to crossing our fingers that the government learns from their past mistakes."

Idiotlogues (particularly ones spending money that isn't theirs to promote their idiotology) never learn from past mistakes.
33 weeks ago
33 weeks ago Link To Comment
Electric cars do not help our energy needs, not even ONE BIT.

In fact, they produce a net LOSS of energy efficiency.

So, the reason we should be funding electric cars would be.... what?
33 weeks ago
33 weeks ago Link To Comment
You don't understand. This loan program is merely a way transferring billions of dollars from the taxpayers to Obama cronies who run shell companies. This is just the Chicago machine gone national. In is futile to try to analyze this in terms of some wonky policy goal. That's for the gullible followers to believe.
33 weeks ago
33 weeks ago Link To Comment
Were they loans to keep the companies running, workers employed or were they taxpayers money laundered to rescue billionaire donors from bad investments, multimillions bonuses to management, unemployment line to workers?
33 weeks ago
33 weeks ago Link To Comment
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