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 GE Bills Taxpayers $490 Million for Wind-Energy Project

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PostSubject: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 23, 2011 8:26 am

GE Bills Taxpayers $490 Million for Wind-Energy Project

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In a blatant example of corporate welfare, General Electric is receiving $490 million from the Energy Department to build a wind-energy facility — even though GE has a market capitalization of some $170 billion.

GE and its partners are also getting a $1.06 billion loan guarantee for the Shepherds Flat project in northern Oregon — a guarantee similar to the $529 million one that solar energy firm Solyndra received from the government before it went bankrupt.

One other point to note: GE’s CEO Jeffrey Immelt is the head of President Barack Obama’s Council on Jobs and Competitiveness.

“The Obama administration’s loan guarantee for the now-bankrupt Solyndra has garnered lots of attention, but the Shepherds Flat deal is an even better example of corporate welfare,” Robert Bryce writes for National Review Online.

“The majority of the funding for the $1.9 billion, 845-megawatt Shepherds Flat wind project is coming courtesy of federal taxpayers,” he notes, and “not only is the Energy Department giving GE and its partners a $1.06 billion loan guarantee, but as soon as GE’s 338 turbines start turning at Shepherds Flat, the Treasury Department will send the project developers a cash grant of $490 million.”

GE and its partners, which include Google, will enjoy an estimated return on equity of 30 percent, while over the past year the average electric utility’s return on equity has been around 7 percent, according to Bryce, senior fellow at the Manhattan Institute and author of “Power Hungry: The Myths of ‘Green’ Energy and the Real Fuels of the Future.”

He asks why the administration is providing subsidies to GE, which paid little or no federal income taxes last year despite earning some $5.1 billion in profits from its American operations.

And he wonders why Immelt can head Obama’s Council on Jobs and Competitiveness when Obama has consistently criticized the oil and gas industry for exploiting what he claims are excessive tax breaks.

As for the permanent “green energy jobs” being created by the wind project, CNN Money has estimated the number to be 35. Taking into consideration only the $490 million grant and ignoring the loan guarantee, the cost of each job will be about $14 million.

Note: Newsmax magazine is now available on the iPad. Find us in the App Store.

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 23, 2011 12:34 pm

How much more of this CRAP are we going to tolerate? Day after day after day we read about the rampant corruption by those willing to feed at the governments trough.
It's really difficult for me to imagine what this country will look like in 20 years, have you guys thought about it? The never ending supply of new gadgets to feed "social networking" by our youngsters will be the end of things the way we know them.
Sorry for the rambling, I'm on my soap box today.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 23, 2011 12:51 pm

20 years VV? Four more years of this POS will kill us.


Last edited by UncleFrank on Sun Oct 23, 2011 1:12 pm; edited 1 time in total (Reason for editing : I pulled an AO. GGG)
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 23, 2011 12:58 pm

UF--you might be correct but I hope not. This kind of behavior is so difficult to even read about for a person like me. I was raised as a Catholic and my character is such that even the smallest infraction is intolerable, so when I hear about some one stealing BILLIONS it just drives me nuts.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 23, 2011 1:15 pm

VV it is disconcerning for all of us who love our Lord and our country, to see what is going on under our noses, and for the audacity of these people knowing that we know and them just thumbing their noses at us while they are doing it. They will be punished.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 23, 2011 1:24 pm

I'm getting tired of it all. Salute
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 23, 2011 1:27 pm

I have been tired of it since the clinton era, and I have not been able to see any light at the end.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 23, 2011 4:19 pm

Ah, the Republic of Texas! It sounds like sweet music to my ears!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Tue Oct 25, 2011 3:57 pm

The Republic of America sounds even better.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Tue Oct 25, 2011 4:10 pm

Well if it won't work on a national scale by damn it will work on a local scale!!! JMHO!!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Tue Oct 25, 2011 4:40 pm

Ok fine but it would be to everyone's advantage to have our republic back in working order. And to hell with this democracy.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Tue Oct 25, 2011 5:41 pm

Agreed but it is gonna happen one place or the other!!! JMHO!!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sat Oct 29, 2011 3:43 am

Yeah what ever it takes, just as long as it gets started in one area and spreads out like a cancer and consumes these libturd bastards.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sat Oct 29, 2011 5:06 am

Either way Texas will be leading the pack and will be okay!! JMHO!!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 30, 2011 5:19 am

How and where it starts is fine with me, as long as it does. It is time to eliminate this democracy and put back in place the Republic where it rightfully needs to be. Democracies do not work and a socialist government will never work. It is high time to take back our country from these treasonous bastards.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 30, 2011 6:15 am

The trend has already started and I believe it will come to a head over the elections this coming year! If it does not turn out where the country is reestablished to what it was supposed to be and has been for some time, the taking back of the country will begin in earnest! TWIT!!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 30, 2011 3:08 pm

It's a damn shame it has to come to that but like they say "It is what it is" ot what will be will be. GGG
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Sun Oct 30, 2011 4:57 pm

It is stupid that we ever became complacent enough for the Demoncraps and Liberturds to pull off what they have! It is over and if they do not see it they will be shown!! JMHO!!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Mon Oct 31, 2011 4:38 pm

Ok goodthen start showing them now because it will take a long, long time for it to sink in.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Tue Nov 01, 2011 4:56 am

They will be shown this next round of elections! When we hit the 2012 elections what few are left will be shown the door and asked to leave and not let the door hit them in the arse when they go through it! TWIT!!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Tue Nov 01, 2011 3:04 pm

I'm not as confident as you on this subject. I feel what can go wrong will.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Tue Nov 01, 2011 8:50 pm

I am hearing talk about the 2012 elections being a continuation of the mod-term elections! I love it! More Demoncraps and Liberturds gone and more Pubs to fill those seats! We will get this mess straightened out yet!! I have confidence!!!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Wed Nov 02, 2011 3:25 pm

I can handle the village idiot being re-elected as long as he's a lame duck.
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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Wed Nov 02, 2011 4:26 pm

Is that the same as a duck that can't quack? GGG!!!

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PostSubject: Re: GE Bills Taxpayers $490 Million for Wind-Energy Project   Fri Nov 04, 2011 12:30 pm

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