Obama Green Energy Failure: Fisker Automotive Received More than Half-Billion Dollars in Federal Loans … Laying off Workers at their Delaware & California Plants
Another Barack Obama “green” energy failure …
Fisker Automotive, a California based electric car start up company that received $529 million in loans to produce two lines of plug-in hybrid cars, is laying off workers in Delaware and California. Wow, who could have predicted that this would have been a waste of tax payer money? After all, as the Lonely Conservative reminds us the electric car goes for such a paltry cost of $100,000.
Delaware’s News Journal reports that Fisker Automotive, a California-based electric car start-up company, is laying off an undisclosed number of staff to try to reserve enough capital in order to qualify for more federal help from the Department of Energy, according to a Delaware state development official.
“They’re trying to preserve the cash that they have,” said Alan Levin told the News Journal. “And unfortunately, until they meet the milestone that DOE continues to set … they’re not able to access the additional capital that they need.”
The company also came under fire last year for taking federal loans while producing cars in Finland. Company officials told ABC News at the time that “there was no contract manufacturer in the U.S. that could actually produce our vehicle.” The company was working on reopening a shuttered General Motors plant in Wilmington to produce vehicles — an effort that top Obama administration officials lauded.
So lets get this correct. Obama’s answer to US jobs and the economy is wasteful spending to “green” companies like Solydra and Fisker … but The One says no to the Keystone XL pipeline. We all know that Obama’s funding of these companies had nothing to do with jobs and everything to do with politics. Obama must go in 2012.