Nearly two thirds (65 percent) of respondents agreed that Solyndra’s bankruptcy demonstrates why the federal government should not pick winners and losers in the marketplace, regardless of the industry or company involved.Īnd six out of ten respondents told pollsters that when private investors don’t want to risk losing their money investing in a company, the government shouldn’t invest in it either. Nearly three quarters of voters (72 percent) oppose the federal government choosing which companies within a particular industry will receive financial subsidies, with a majority (53 percent) strongly opposed. Obama got considerable political mileage early in his presidential term by announcing the loans for creation of “green energy” jobs.Ī new survey commissioned by Heritage Action for America reveals that public attitudes about energy are not supportive of these grand plans. Ormat’s CEO Paul Thomsen is another former Reid aide.īeacon Power’s bankruptcy and the financial turmoil at Nevada Geothermal, hard on the heels of Solyndra’s bankruptcy filing, creates additional political humiliation for the Obama administration.
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Kai Anderson, a lobbyist for Nevada Geothermal’s partner corporation, Ormat Technology, is a former Senate aide to Harry Reid. The controversial DOE loan program has already produced an even bigger default: Just two months ago, solar panel manufacturer Solyndra filed for Chapter 11 protection after receiving a $535 million loan guarantee, effectively leaving taxpayers on the hook for the whole amount.Įxecutives, board members and investors involved with all three companies are closely linked to Obama, Reid and other prominent Democrats.
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Nevada Geothermal received a DOE loan guarantee of $79 million, plus at least $66 million in grants.