Obama White House Knew “Green” Electric Car Maker Fisker Automotive was Failing and Still Gave them More Tax Dollars
CBS News is reporting that the Obama White House knew that the electric car maker Fisker Automotive Inc. was failing and still gave the “green” company even more money. According to documents, the Obama administration knew as early as 2010 that the company was not meeting standards, yet did nothing to halt the government loan. Fisker had received a total of $192 million of the $529 million loan before it was suspended. I guess Obama would call that a success that his administration did not give them all of the loan. This administration was hell-bent on funding their pet green energy companies at all cost, regardless of the cost and the failings of this companies.
Newly obtained documents show the Obama administration was warned as early as 2010 that electric car maker Fisker Automotive Inc. was not meeting milestones set up for a half-billion dollar government loan, nearly a year before U.S. officials froze the loan after questions were raised about the company’s statements.
An Energy Department official said in a June 2010 email that Fisker’s bid to draw on the federal loan may be jeopardized for failure to meet goals established by the department.
Despite that warning, Fisker continued to receive money until June 2011, when the DOE halted further funding. The agency did so after Fisker presented new information that called into question whether key milestones — including the launch of the company’s signature, $100,000 Karma hybrid — had been achieved, according to a credit report prepared by the Energy Department.
It is just endless, the number of green energy failures and the wasted tax payers money that the Obama administrations has spend down a “green” energy rat hole. Whether it be Fisker, Solyndra, Abound Solar, A123 Systems, Ener1 and list goes on and on and on.