Another Obama 'green energy' company collapses
Government-funded battery maker files for bankruptcy
- Duration 6:54
- Date Oct 16, 2012
Government-funded battery maker files for bankruptcy
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Brought in a hard place -- and -- -- the green business collapses a 123 systems a lithium battery makers filed for bankruptcy.
That company received about 250.
Million taxpayer dollars.
Pres Obama was once very bullish on it because he likes non fossil fuel energy.
These standards aren't just about the bad things won't prevent -- about the good things that -- -- there's a 123.
Clean energy manufacturer in Michigan that just -- its 1000 worker.
As demand has soared for its vehicle components.
Company is like these are taking root and putting people to work in every corner of the country.
Mean not exactly that companies now laid off at least three -- -- fifty workers joining Solyndra another green companies in bankruptcy hell.
Joining us now from -- university where he's prepping for the debate Alan Holmes.
And here in the studio -- Monica Crowley so Monica no gloating.
All right no -- zone know what holiday we don't want to see any American business right collapse all right right but when you invest you being present Obama and Obama administration.
250 million of our money through 1% or -- -- that taxes.
This is another tee up for Mitt Romney and he goes I mean how many more of these business is gonna get on a drain.
This is crazy.
Right -- and the timing on this because it happened today -- this company went belly up.
Hours before the presidential debate does admit -- Romney another piece of of ammo to use against President Obama.
Remember when you use that word in vest or the president and his team uses the word invest.
What they mean by that is not private investment they're talking about tax -- -- and this is what happens when you have direct government intervention in what should be.
-- in the private senator and -- they're playing.
Right it -- awards will throw this money at this is -- Grabbing him and hope and it tries to create a marketplace where it doesn't -- not sure about that because I actually agree with Holmes on something I think the planet a better.
If you have non fossil fuel energy and I'd love to have Windmills and I'd love to have lithium batteries and and everything like that.
But the technology simply isn't there yet.
And the government is just pumping all of this money into it to try to prop the industry often create jobs and it's turning into a disaster -- Right actually not they've -- about a million jobs created because of this energy investment program.
By the way this particular company was supported by Republicans.
Like -- -- -- furthermore.
In this program of -- investment in energy companies you know.
About two point 87 billion dollars is set aside for companies that default.
-- of sixteen billion.
They go to invest in these companies and Republicans can at about 800 million dollars in what they have to -- -- default itself.
It's actually making money -- dozens of companies are successful.
And you know the detractors of Obama are cherry picking companies like -- like Solyndra and like this one ignoring all the ones that are successful.
I don't know any companies that are successful on the level that Monica Crowley and Bill O'Reilly -- benefit.
Can you give me one what we're all benefiting -- I don't know what I'm all benefiting -- -- -- lot of pit calls call a decade the draft now.
Area and see what it out take one company one all right that benefits -- -- -- One -- -- dreamed of diesel in New Orleans the bio diesel project.
Which will triple the amount of domestically produced renewable diesel this he's kind of investment yes there's -- -- -- how likely is that.
Well I -- struck first it helps people deliver goods it helps people get when you bring down the cost of delivering products around the country that's one of many that are successful the -- Value Line -- I know I missed because Clinton there and there is a basic philosophical.
Argument here -- that the government should not be involved in any kind of social engineering in the economy.
That's what got us and probably in trouble -- the governor.
This -- -- got to have an obligation now to get us away from oil which is killing us.
From coal which pollutes the air.
Did anything to find on the eve of the problem is suspended all its money are we don't have any film this is what the mark -- yeah.
-- gonna do this primary way this is why we should unleash the private sector to create these things where there -- marketplace and there's reward and there's pressed by the witnesses also when he crony socialism.
You -- someone drug major investor insulin drug.
But some major Obama donor and with 8123.
Yeah you have -- -- Didn't I didn't know who is also a major Obama donor and a board member of 8123.
Was actually invited to sit on the White House advisory board on tech that's.
Good -- uploading stuff that's not good.
Why they have -- guy got a guy got I got a hold on it was a topic.
-- is not good okay it's obviously cronies are the socialism now.
Because we -- all these breaks to oil companies to tune and I don't know ten billion dollars over Italian I think -- -- -- -- -- -- speaking to the choir here.
Okay now Libya it's -- -- you know we have hunt coming up behind you guys he's furious and State Department said they were listening in on the attack.
So if it.
If I'm Mitt Romney I look at the president onto all the respect I need -- and the answer to this question.
Who told you UN ambassador to mislead the American public legitimate question.
Yes and I would cards I would turn to running it say why did you jump to conclusions and say that we were supporting the people who are just -- -- then that question and attack probably -- around I would turnaround and Mohamed -- motivated you wouldn't answer.
I would jump to -- I would go back at Ronnie for jumping to conclusions that you're speaking of vacation a violation what you do that all the time and attack is that -- talk.
The question yeah I think that would be pretty obvious to the millions of people watching the debate if the president doesn't answer that question -- Congrats here's the problem with that strategy -- we can't be sitting commander in chief his name is Barack Obama Mitt Romney is not the commander in chief yet I think.
Did you get the only thing I'm not identical you've got up this -- commander in chief answer why we have had 4% of Americans including the US ambassador and Sweeney has -- What broke down and -- -- -- the -- general.
Kind of got your -- -- what I think covering up.
Use -- that you can't do that if you accuse the president of a cover up for a lie you're gonna lose that the American Indians stayed -- -- you have.
You can always -- well this is like Y -- your UN ambassador mislead the world.
For seven days and why you have you have a gold standard error while -- playing Missouri boys there's administration that -- nine attacks but you're.
As president but you can't go right back there you can tell us why you want like Biden laughed called you can't have a double standards Hannah.
I have a double standard you know what we'll have a overweight diesel truck if we have a double standard constantly surprises will be down because we invest our eyes on the grid at home runs yeah.
As -- -- get a frightening people left their homes.