Source:
https://www.newsmax.com/larrybell/new-deal-energy-green/2021/01/13/id/1005466/
" ... Solyndra ... was a California solar panel developer that defaulted on a $535 million Obama-Biden administration Department of Energy stimulus loan guarantee that, along with four other bankrupted companies, collectively left U.S. taxpayers on the hook for more than $2.2 billion.
... When their green-energy boondoggle went belly up, zero cars had been manufactured in the United States — despite the hefty cost footed by America.
... bankruptcy documents related to Fisker's fiscal failure curiously listed Joe Biden's son, [Robert] Hunter Biden ...
Also, curiously, Fisker was later purchased at auction by Wanxiang, a Chinese conglomerate, after being ''enticed'' by Fisker creditors.
Wanxiang also reportedly has ties to Hunter Biden. The foreign company had invested $1.25 billion into a different company that was a client of Seneca Advisors, Hunter's consulting firm.
... Although a (Joe) Biden staffer told The Wall Street Journal that he made ''no direct appeals'' to DOE prior to the loan's approval, the agency's reportedly had ''repeated discussions with Vice President Biden and his staff.''
When Secretary Chu ran into Biden at an event, he reportedly told him, ''I know, I know — Fisker.'' The loan was approved five days after that conversation.
Joe Biden's new nominee to head DOE is former Michigan Gov. Jennifer Granholm, Biden's selection for Energy secretary who brings lots of her own experience in the boondoggle department.
During her governorship from 2003 to 2011, Granholm handed out hundreds of millions of dollars to politically favored startups to create ''green jobs,'' of which many failed.
One of those companies was A123 Systems, a fledgling electric-car battery manufacturer that received a $249 million DOE grant plus another $125 million in Michigan state tax credits.
... A123 went bust in 2012 about the same time its customer — none other than Fisker Automotive also did — and also, like Fisker, its assets were purchased by China's Wanxiang group.
Granholm also offered battery manufacturer LG Chem $125 million on top of the $150 million in DOE stimulus dollars it received. LG Chem apparently ran out of clean energy when its employees were caught watching movies and playing games around the clock because they ostensibly had little productive to do.
Mascoma, a biofuels startup, got $20 million from Granholm and up to $100 million from DOE for a plant that was never built to convert biomass into cellulosic ethanol.
Granholm also approved $100 million for a renewable energy park that was scrapped.
... According to the Mackinac Center, a Michigan think tank, only 2.3% of Granholm's investments in the state's main incentives program met their job creation promises."