SEARCH BLOG: ENERGY
Interesting how those energy mandates work in the real world [from Fox News]. You can stop the video at the 2 minute mark.
Ener1 is the third company to seek bankruptcy protection after receiving assistance from the Energy Department under the economic stimulus law. California solar panel maker Solyndra Inc. and Beacon Power, a Massachusetts energy-storage firm, declared bankruptcy last year. Solyndra received a $528 million federal loan, while Beacon Power got a $43 million loan guarantee.
"One bankruptcy may be a fluke, two could be coincidence, but three is a trend," Stearns [Rep. Cliff Stearns, R-Fla.] said. "Our investigation continues, and we are working to ensure taxpayers are never again stuck paying hundreds of millions of dollars because of the administration's risky bets."