The PJ Tatler

Second Obama Administration Green ‘Energy’ Company Goes Broke; Technically, it’s the Third – We’re Still $15 Billion in the Hole to Green ‘Energy’ General Motors

The Hill reports that Massachusetts’ Beacon Power on Sunday became the second solar “energy” company backed with government coin by the Barack Obama Administration to file for bankruptcy.

Less Government has long been reporting that technically it’s the third.  General Motors (GM) took $50 billion in taxpayer coin, went broke – and last year became the #1 filer of green “energy” patents on the planet.  Not to mention the non-profit electric hybrid – the Chevy Volt.  Which costs GM $41,000 to make, and GM sells for…$41,000.  GM is far and away our biggest green “energy” government-money “investment.”

GM has become this world-leading green “energy” titan – while still owing We the People about $15 billion.  Less Government started to track the looming taxpayer loss – and offer a solution that would in fact make us whole.

Less Government President Seton Motley:

“We are again today reminded that green ‘energy’ is nowhere near ready for prime time.  We must immediately stop all government alleged ‘investment’ in this Leftist folly.

“But an even larger problem looms: We are on the hook for tens of BILLIONS of dollars with General Motors.  Which last year filed more green ‘energy’ patents than any other company.  GM is thusly the largest green pseudo-‘energy’ government ‘investment’ of all.

“However – unlike with Solyndra and Beacon Power – there is a way for We the People to be paid back by GM.  Less Government started not just to track the looming taxpayer loss – but to offer the solution.  So that we can – finally, just this once – not lose billions of dollars on bad government policy.”