Illustrating the Obama Administration’s continued failure in promulgating “Green” technology is the very visible local demise of Anaheim-based Fisker Automotive. We looked at their fall twice previously, and were glad to see Rep. Darrell Issa have a few more things to say about the mess on Greta Van Susteren’s On the Record program last night on Fox News:
Fox’s Bill O’Reilly also discussed Fisker with their investigative guy, John Stossel last night:
So it goes with the worst President the United States has ever had. Fisker’s failure (how did they expect to compete with a less costly, proven Japanese design?) hurt us locally, but not word one has been written or spoken by the Democrat majority at State level, or a major media outlet like the LA Times.
To it’s credit, the Register did have an intelligent Opinion piece on Fisker last month and NAILED the waste of taxpayer funds that were invested in the boondoggle. In part,
Mr. Fisker’s start-up received a $528.7 million subsidy, courtesy of U.S. taxpayers. Most Americans look askance at government bailouts of floundering companies, like the $21 billion in federal emergency loans pocketed in 2008 by General Motors and Chrysler. We imagine they would be no less sanguine about the more than half-billon dollar government “bail-in” gifted to Fisker in 2009. After squandering nearly $200 million of the taxpayers’ money, while failing to meet the production goals to which it agreed as a condition of accepting its public subsidy, the government in 2011 froze the remaining $330 million or so it originally bestowed upon Fisker.
Clearly, like Solyndra, Fisker is an embarrassing failure of central government planning, and political predilections. Obama and his liberal minions sought to prove this not-so-revolutionary technology would just roll over internal combustion as a power source that’s been successful for over a century. With gasoline at $4/gallon, you’d think they couldn’t lose, but they failed, and without consequence.