Obama Regime Gives $Billions to Foreign Green Energy Companies

Even if it doesn’t do much to generate electricity, maybe Obama’s green energy spending really does stimulate the economy a little bit. After all, when he pours $billions of our money upon prominent donors like the tax-evading George Kaiser, those donors are sure to spend some of it on limousines, champagne, caviar, et cetera, increasing sales for certain businesses. Except of course when Obama throws our money at green energy boondoggles in foreign countries:

Which company has gotten the most subsidies from the U.S. government? Would you believe it’s a Spain-based green energy company?

Iberdola has gotten $2.2 billion in subsidies to operate wind turbines across the U.S. — making it the largest recipient of federal corporate welfare, according to a report by the left-wing group Good Jobs First.

The company got billions in subsidies from the Obama administration’s 2009 stimulus package.

“When you spread the wealth around, it’s good for everybody.” Other than those whose wealth gets spread, that is. Obama wasn’t just talking about spreading it around within our borders; that would be nativist, xenophobic, jingoistic, and probably even racist.

Iber-on-the-dole-a isn’t alone:

“The 50 parent companies receiving the most federal grants and allocated tax credits include 10 foreign based firms: two each from Germany and Spain and one each from Australia, China, France, Israel, Japan and Portugal. Nearly all are energy companies,” Good Jobs First reported.

“[A] large portion of the funds received by the foreign energy firms came from Recovery Act programs such as Section 1603,” the group added.

How confiscating our money and giving it to foreign companies in the name of kooky environmentalist ideology would help the economy to recover is not explained.

Now even some leftists have had enough of Obama’s malevolent waste of our resources. Republicans have been complaining ineffectually for a while:

Republican lawmakers have criticized the Obama administration for subsidizing energy projects backed by foreign companies. In 2013, house Republicans put out a report claiming that nearly $4 billion of Section 1603 green energy grants went to a handful of large European and Asian renewable energy companies.

“Billions of dollars have filled the coffers of overseas firms while the evidence of the promised permanent jobs and economic growth here in the United States is scarce,” Republicans said in their report. “With these grants, foreign companies appear to have unduly benefited from a program ostensibly aimed at stimulating the U.S. economy, growing American businesses, and creating U.S. jobs.”

When they write the book on the Decline and Fall of America, Barack Hussein Obama and the fools who put him in power will get the longest chapter.


On a tip from Rob E. Cross-posted at Moonbattery.

Share this!

Enjoy reading? Share it with your friends!