Updating: Solyndra Slush Fund List; And The Obama Definition Of "Permanent" -- February 19, 2020

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Flashback: Solyndra

Solyndra slush fund list.

See this link.

Earlier:

February 6, 2020: Crescent Dunes, $737-million-backed by the federal government; solar company in Nevada declares bankruptcy. Link here. Solyndra: $535 million. Crescent Dunes lost its only customer; suffered a catastrophic technology failure -- can't even produce any electricity.

And even earlier, from the Las Vegas Review Journal (I don't expect this to come up during tonight's debate):

Do readers remember the Crescent Dunes solar power plant in Tonopah? The project commenced some 10 years ago and was financed in part with a $737 million federal loan guarantee.

Nevada Energy fully supported the project, promising to buy power at a rate almost six times as high as the market at the time. At the same time, the company was destroying Nevada’s residential solar businesses by pushing through a measure to reduce the “buyback” of energy generated by households to less than one-sixth of the going rate.

How is the Crescent Dunes doing? It ceased operations in April. The three-quarters of a billion dollars of federal guaranteed loans have been eaten by us taxpayers, and the Department of Energy is trying to decide what to do with this albatross.

The "boondoggle" served its purpose: slush fund for funneling money (political donations from CEO, board members) to political parties and candidates -- don't cry for me, Argentina). 

For more on "Tonopah," click here.

How many remember that genius, Steven Chu?

From the blog, September 28, 2011:

Link here.

Energy Secretary Steven Chu said the department has completed a $737 million loan guarantee to Tonopah Solar Energy for a 110 megawatt solar tower on federal land near Tonopah, Nev., and a $337 million guarantee for Mesquite Solar 1 to develop a 150 megawatt solar plant near Phoenix.

The two projects will create about 52 permanent jobs, Chu said.

I can't make this stuff up: more than $1 billion in guaranteed loans for 52 permanent jobs.

Part of the $800 billion stimulus program that President Obama now says is responsible for the Trump economy.

$737 million loan guarantee. 52 permanent jobs. Permanent if "permanent" is defined as less than a decade.

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