Abengoa: Solyndra 2.0

Since they are never held accountable, the looting goes on and on:

News that bonds and stocks of Abengoa SAthe Spanish renewable-energy company – plunged after a plan to shore up capital failed to reassure investors that it can stop burning cash is likely to have passed many by. But coming just one day after President Obama unleashed his Clean Power Plan, the fact that the company – that is now facing significant liquidity concerns – received over $230 million in US taxpayer subsidies in 2014 – despite two ongoing federal investigations – may raise an eyebrow or two as images of Solyndra’s government-sponsored farce come to mind… as Diane Feinstein, Ken Salazar, and Bill Richardson – with the help of subsidies and Ex-Im bank loans allegedly exerted their influence to keep this zombie alive.

As for the notion that this sort of waste creates American jobs, Abengoa brings over people from across the ocean just “to move furniture around.”

Why is the government throwing our money at European green energy boondoggles? The long answer would entail investigative reporting into how much was paid to make friends in Washington. The short answer is: because we don’t stop them.

abengoa-collapse
Another government “investment.”

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On a tip from R F. Cross-posted at Moonbattery.

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