$737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law

[UltimateHoboW/Shotgun]

http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html

Despite the growing Solyndra scandal, yesterday the Department of Energy approved $1 billion in new loans to green energy companies -- including a $737 million loan guarantee to a company known as SolarReserve:

SolarReserve LLC, a closely held renewable energy developer, received a $737 million U.S. Energy Department loan guarantee to build a solar-thermal project in Nevada.

The 110-megawatt Crescent Dunes project, near Tonopah, Nevada, will use the sun’s heat to create steam that drives a turbine, the agency said today in a e-mailed statement. SolarReserve is based in Santa Monica, California.

On SolarReserve's website is a list of "investment partners," including the "PCG Clean Energy & Technology Fund (East) LLC." As blogger American Glob quickly discovered, PCG's number two is none other than "Ronald Pelosi, a San Francisco political insider and financial industry polymath who happens to be the brother-in-law of Nancy Pelosi, the Minority Leader of the United States House of Representatives."



ROFL!

[epicSocialism4tw]

Another case of green jobs cronyism with these guys?

[epicSocialism4tw]

By the way, who on earth gave the Department of Energy the righ to use taxpayer dollars for its schemes?

[elsid13]

By the way, who on earth gave the Department of Energy the righ to use taxpayer dollars for its schemes?

Congress. And it's not DOE scheme it is something that Congress by law direct them to oversee and manage.

[cutthemdown]

Well the method of using the sun to melt salt, which then is used to heat water and make electricity with steam is still way more effective then solar panels. In fact its not even close. So just the fact its her brother in law doesn't make me think it is a waste. Im not saying either way, I don't know, only that the method is tried and true.

Its simple and it works well in the desert where we dont want to live anyways.

[Smiling Assassin27]

http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html



ROFL!


Man, this president makes Bill Richardson look like Mother Theresa.

The Hill newspaper reported Wednesday that the Santa Monica, Calif.-based SolarReserve has secured a $737 million loan guarantee from the Department of Energy for a Nevada solar project.

That company has ties to George Kaiser, the Oklahoma billionaire who raised $53,500 for President Obama’s campaign in 2008. Through his Argonaut Private Equity firm, Kaiser holds a majority stake in Solyndra.


Additionally, Federal Election Commission records made available by the Center for Responsive Politics show that SolarReserve board member James McDermott has contributed $61,500 to various Democratic campaigns since 2008, including $30,800 to Obama’s presidential election campaign.
McDermott’s U.S. Renewable Energy Group has a significant financial stake in SolarReserve, and has drawn scrutiny for its ties with Senate Majority Leader Harry Reid — and for reportedly driving green jobs to China.

And Lee Bailey, a fellow SolarReserve board member and U.S. Renewables Group investor, has donated $21,850 since 2008 to Democratic candidates including President Obama, Senate Majority Leader Harry Reid, California Sen. Barbara Boxer and then-presidential candidate Hillary Clinton.


Stimulus my arse...What we got was a Democratic Party slush fund. Oh, and THIS guy's company got 1.3B:

SunPower has paid lobbyist Patrick Murphy, a close confidant of Senate Majority Leader Harry Reid, at least $290,000 in lobbying fees since 2009.
SunPower’s political action committee gave $15,650 to Democratic congressional candidates in 2010 and only $500 to a single Republican candidate. Reid received the largest slice of that pie, a $4,000 campaign contribution.


Look for this company to be the next Solyndra, if you're placing bets. The stock is down from $21 in April to $8 yesterday. Donors to Obama, Pelosi, and Reid got paid--most transparent presidency EVAH! :yayaya:

[epicSocialism4tw]

Man, this president makes Bill Richardson look like Mother Theresa.





Stimulus my arse...What we got was a Democratic Party slush fund. Oh, and THIS guy's company got 1.3B:



Look for this company to be the next Solyndra, if you're placing bets. The stock is down from $21 in April to $8 yesterday. Donors to Obama, Pelosi, and Reid got paid--most transparent presidency EVAH! :yayaya:

Chicagoland.

[epicSocialism4tw]

Congress. And it's not DOE scheme it is something that Congress by law direct them to oversee and manage.

Which idiotic congress gave them the power?

[Garcia Bronco]

Congress. And it's not DOE scheme it is something that Congress by law direct them to oversee and manage.

Congress has no right to defer that responsibility

[Arkie]

We need to abolish the department of energy. It was created to lessen our dependence on foreign oil. It has ballooned 24 billion a year and we now import more oil than ever before. They' ve had 32 years to get it right and it's now been proven to be an abysmal failure. What have they done to help us? All they do is prevent energy creation and TAX energy that is.

[elsid13]

Congress has no right to defer that responsibility

Once again they are not deferring that responsibility. Congress has neither the staff or the time to execute all legislative action or regulations. And before you attempt to start something again there is more then enough case law that ruled on by USC to prove that it is legal option to delegate these actions to the executive branch(starting in early 1800's)

[elsid13]

Which idiotic congress gave them the power?

Since it's authorized and appropriated annually, it would been this current sitting one.

[elsid13]

We need to abolish the department of energy. It was created to lessen our dependence on foreign oil. It has ballooned 24 billion a year and we now import more oil than ever before. They' ve had 32 years to get it right and it's now been proven to be an abysmal failure. What have they done to help us? All they do is prevent energy creation and TAX energy that is.

DOE was set up by Eisenhower not to solve US energy issues, but ensure nuclear power remained under civilian control. All the plants that make our nuclear weapons are DOE and they are responsible for all nuclear reactors used by the DoD.

[Tombstone RJ]

We need to abolish the department of energy. It was created to lessen our dependence on foreign oil. It has ballooned 24 billion a year and we now import more oil than ever before. They' ve had 32 years to get it right and it's now been proven to be an abysmal failure. What have they done to help us? All they do is prevent energy creation and TAX energy that is.

yep, Herman Cain agrees. The fed gov, pretty much across the board, is a joke.

I'm not for smaller government per say. I'm for limited government. The fed needs to be effective and efficient in certain areas (like the military) and it needs to let the market work in other areas (like energy).

I'm all for greener energy, heck, I'm a big, big, big proponent of industrial hemp (it has huge potential) but the DOE just does not get it.

Why don't we farm industrial hemp? WHY?????? Because the cotton lobby does not want the competition, that's why. So these lobbies demonize hemp.

Ask yourself why DC is so incompitent and you'll soon find out it's about money. Who owns the politicians?

[DenverBrit]

Since it's authorized and appropriated annually, it would been this current sitting one.

Stand by for some EpicSpin. Ha!

[epicSocialism4tw]

DOE was set up by Eisenhower not to solve US energy issues, but ensure nuclear power remained under civilian control. All the plants that make our nuclear weapons are DOE and they are responsible for all nuclear reactors used by the DoD.

Not Really.

Department of Energy was created by Jimmy Freakin' Carter in 1977.

http://books.google.com/books?id=B5t_Lyus2qsC&pg=PA46&lpg=PA46&dq=department+of+energy+great+society&source=bl&ots=xbBlTwHe8O&sig=O8DlAlSvew-bBt3SNuo0iVWXosM&hl=en&ei=eDqGTvXANfDgsQKFhfjTDw&sa=X&oi=book_result&ct=result&resnum=3&ved=0CDAQ6AEwAg#v=onepage&q=department%20of%20energy%20great%20society&f=false

[Tombstone RJ]

Not Really.

Department of Energy was created by Jimmy Freakin' Carter in 1977.

http://books.google.com/books?id=B5t_Lyus2qsC&pg=PA46&lpg=PA46&dq=department+of+energy+great+society&source=bl&ots=xbBlTwHe8O&sig=O8DlAlSvew-bBt3SNuo0iVWXosM&hl=en&ei=eDqGTvXANfDgsQKFhfjTDw&sa=X&oi=book_result&ct=result&resnum=3&ved=0CDAQ6AEwAg#v=onepage&q=department%20of%20energy%20great%20society&f=false

probably due to 3 Mile Island incident. Blaming Carter for starting the DOE because of 3 Mile Island is a lot like blaming Bush for creating Homeland Security after 911.

I liked Carter, too bad he sucked as a president. However, he was/is a good person and not a corrupt, self serving, egocentric blowhard like Obama.

[Smiling Assassin27]

DOE probably assumed the duties of all the previous nuclear/energy related regulatory agencies and commissions in 77. Too lazy to check, sorry.

[elsid13]

Not Really.

Department of Energy was created by Jimmy Freakin' Carter in 1977.

http://books.google.com/books?id=B5t_Lyus2qsC&pg=PA46&lpg=PA46&dq=department+of+energy+great+society&source=bl&ots=xbBlTwHe8O&sig=O8DlAlSvew-bBt3SNuo0iVWXosM&hl=en&ei=eDqGTvXANfDgsQKFhfjTDw&sa=X&oi=book_result&ct=result&resnum=3&ved=0CDAQ6AEwAg#v=onepage&q=department%20of%20energy%20great%20society&f=false

http://en.wikipedia.org/wiki/United_States_Department_of_Energy

"In 1942, during World War II, the United States started the Manhattan Project, a project to develop the atomic bomb, under the eye of the U.S. Army Corps of Engineers. After the war, the Atomic Energy Commission was created to control the future of the project.

The AEC was reinstated and gave way to Nuclear Regulatory Commission, which was tasked with regulating the nuclear power industry, and the Energy Research and Development Administration, which was tasked to manage the nuclear weapon, naval reactor, and energy development programs. Only a few years after that, the Energy Crisis called attention to unifying these two groups. The Department of Energy Organization Act of 1977, which Carter signed on August 4, 1977, created the Department of Energy, which assumed the responsibilities of the Federal Energy Administration, the Energy Research and Development Administration, the Federal Power Commission, and programs of various other agencies."

With over 60% of budget aimed at nuclear work for DoD I stand by my statement.

[Bronx33]

cronyism 101

[epicSocialism4tw]

http://en.wikipedia.org/wiki/United_States_Department_of_Energy

"In 1942, during World War II, the United States started the Manhattan Project, a project to develop the atomic bomb, under the eye of the U.S. Army Corps of Engineers. After the war, the Atomic Energy Commission was created to control the future of the project.

The AEC was reinstated and gave way to Nuclear Regulatory Commission, which was tasked with regulating the nuclear power industry, and the Energy Research and Development Administration, which was tasked to manage the nuclear weapon, naval reactor, and energy development programs. Only a few years after that, the Energy Crisis called attention to unifying these two groups. The Department of Energy Organization Act of 1977, which Carter signed on August 4, 1977, created the Department of Energy, which assumed the responsibilities of the Federal Energy Administration, the Energy Research and Development Administration, the Federal Power Commission, and programs of various other agencies."

With over 60% of budget aimed at nuclear work for DoD I stand by my statement.

And you wonder why nobody trusts you hardcore liberal zealots.

The informationis right there in front of your face and you still cannot accept it.

It would be funny if you clowns werent running our country head first into the ground.

[epicSocialism4tw]

probably due to 3 Mile Island incident. Blaming Carter for starting the DOE because of 3 Mile Island is a lot like blaming Bush for creating Homeland Security after 911.

I liked Carter, too bad he sucked as a president. However, he was/is a good person and not a corrupt, self serving, egocentric blowhard like Obama.

He created it because of the energy crisis...the gas/fuel crisis.