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GE Dumps Offshore Wind-Power Plans AFTER Collecting $125 Million In Stimulus From Taxpayers For Wind Projects

Best friends Obama and Immelt applaud as GE screws taxpayers once again.

Source - Gateway Pundit

GE was awarded 44 contracts totaling over $46,000,000 and 44 grants totaling more than $79,000,000 from the Obama-Pelosi $757 billion dollar stimulus package. Millions of dollars in stimulus funds were used by GE in green energy projects.

Today GE announced that it was going to gut its offshore wind-power plans.

Forbes reported:

General Electric, the U.S.-based industrial giant and leading manufacturer of wind-power turbines, is scaling back efforts to expand its presence in the offshore wind power market.

The rationale: there is no meaningful offshore wind market to speak of – at least not yet.  Given slower-than-expected industry growth, the offshore market may not mature as rapidly as many wind boosters once believed.  In 2009, GE moved into the offshore market by acquiring Norway’s ScanWind, a developer of direct-drive turbines, based in the city of Trondheim.

GE is considering laying off about 40 employees in Norway as it scales-back its offshore operations there, according to reports in Recharge. The company has also suspended plans to construct a manufacturing facility in the United Kingdom indefinitely.

Immelt also said the stimulus would work way back in April 2009.


GE CEO Jeffrey Immelt, the head of Barack Obama’s Economic Advisory Panel, was invited to sit with the First Lady during the president’s speech to Congress this past week. He’s been a strong supporter of the president since he took over the White House and his companies have received plenty of government funds as well.

First lady Michelle Obama (4th L) and Vice President Joe Biden’s wife, Jill, (2nd R) clap from the front row of the First Lady’s Box before the start of President Barack Obama’s address to a joint session of Congress on Capitol Hill in Washington September 8, 2011. Others in the box are: (top row 3rd L- 2nd R) General Electric CEO Jeffrey Immelt, American Express CEO Kenneth Chenault, AOL co-founder Steve Case, Permac Industries CEO Darlene Miller and Maryland Governor Martin O’Malley, and (front row L-R) Philip Maung, Gracey Ibarra, Kelcie Fisher,Obama, Joseph Kidd, Biden and Marlena Clark. (REUTERS/Jim Bourg)


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Reader Comments (119)

Corrected post. (could you please delete 4:19 post) Thanks.

White House Orders Review Of Energy Department Loans To Avoid Solyndra Subpoena And Exercising "Executive Privilege"



The Solyndra-gate scandal, which the GOP realizes has the potential to shake the Obama administration to the very top, refuses to go away. Earlier today AP reported that to a republican Subpoena demanding all documents instead of just those selectively produced, "could trigger a claim of executive privilege by the Obama administration and elevate the political stakes....

......And here is where the latest joke from this president jumps the shark: "[White House chief of staff] Daley said he's tapping a former Treasury official to conduct the review." A former Treasury official... of the Obama administration?

Who are these guys?



"It's not what you know. It's who you know."

"…Another about $115 million of the $503 million went to a company called First Wind, whose owners include the Chicago-based Madison Dearborn Partners and a member of the D.E. Shaw group. This Bloomberg article quotes President Obama's White House chief of staff, Rahm Emanuel, a congressman at the time the article was published, as saying of Madison Dearborn, "They've been not only supporters of mine, they're friends of mine." The Bloomberg article says, "Employees of Madison Dearborn have donated $77,500 to Emanuel's re-election committee since 2001, collectively emerging as the top contributor to his campaigns in his congressional career, according to the nonpartisan Center for Responsive Politics." D.E. Shaw is the firm at which Mr. Obama's chief of the National Economic Council, Lawrence Summers, held a $5.2 million a year, one-day-a-week job. The Energy Department did not respond to a query from FutureOfCapitalism.com about whether Messrs. Emanuel or Summers had been involved in the decision to award the grant....


Oct 28, 2011 at 4:33 PM | Unregistered Commenterjohn [snip]
Was Wall Street Insider Right? – Solyndra To Be Obama’s Downfall?



What has been revealed – to this point only partially, by the Solyndra scandal, is far more serious, not only to this administration but to the entire Democratic Party. Many of them have their hands in the corruption that was the Obama Stimulus Bill of 2009. Solyndra is but one small example of how that money was spent. The dealings that took place under the false guise of saving the economy.
It is my personal understanding – and this is the talk of others in positions of some influence, that Solyndra – what Solyndra could ultimately reveal, could prove far more damaging to the entire political system…and certainly to the Democratic Party.

Note: I agree 100% with the above. As I have repeatedly posted numerous articles and links here

and here: http://dailybail.com/home/song-green-energy-blues.html

there is more than enough to warrant a thorough look at ALL the players. Solyndra is just the tip of a very big and ugly iceberg.
Nov 6, 2011 at 1:12 PM | Unregistered Commenterjohn
Nstar merger may be delayed until 2012



The review by Massachusetts utilities regulators has been bogged down by the Patrick administration’s efforts to subject the deal to more stringent environmental standards and rate negotiations — as well as behind-the-scenes pressure on Nstar to buy power from Cape Wind. The state’s motion will be hashed out in a hearing on Nov. 17.

Note: Please read Barbara Durkin's comment.
Nov 7, 2011 at 10:08 AM | Unregistered Commenterjohn
Thank to Canuck for bringing this one to my attention.

Corporation that owns Zuccotti "Protester" Park Wins $168 Million Loan Guarantee from Obama DOE!


The project owned by brookfield...

Nov 7, 2011 at 10:42 PM | Unregistered Commenterjohn
Ok folks, I want you to take out your current electric/gas utility bill and look at what the tax was...Then read this.

Nov 9, 2011 at 7:47 AM | Unregistered Commenterjohn
Another DOE Loan Scandal: Are We Bailing Out Spain’s Solar Collapse?


White House agrees to hand over Solyndra documents to GOP

Nov 11, 2011 at 9:32 AM | Unregistered Commenterjohn
Nov 11, 2011 at 11:30 AM | Unregistered Commenterjohn
White House delivers Solyndra documents, rebuffs full GOP subpoena



The White House on Friday rejected House Republicans’ subpoena for all internal communications related to the $535 million Solyndra loan guarantee, instead providing 135 pages of documents that administration officials say meet the “legitimate oversight interests” of congressional investigators.
Nov 12, 2011 at 10:22 AM | Unregistered Commenterjohn



While Robertson’s Hopkins biography makes no mention of her work at Enron, federal disclosure documents show she joined the company in 2000 after working at the Treasury. Robertson, who signed some of the forms, said she lobbied on energy and tax issues.
Nov 14, 2011 at 5:13 PM | Unregistered Commenterjohn
Nov 17, 2011 at 5:37 PM | Unregistered Commenterjohn
Australia's new Carbon Tax Fines.....


On cue comes the Australian Competition and Consumer Commission, which this week issued warnings to businesses that they will face whopping fines of up to $1.1m if they blame the carbon tax for price rises.

It says it has been “directed by the Australian government to undertake a compliance and enforcement role in relation to claims made about the impact of a carbon price.”

Businesses are not even allowed to throw special carbon tax sales promotions before the tax arrives on July 1.
Nov 17, 2011 at 6:33 PM | Unregistered Commenterjohn
New wind-energy label gains Deutsche Bank support



Deutsche Bank and a handful of other global firms pledged on Friday to get at least 25 percent of their energy from wind.

Companies including Deutsche Bank, the news service Bloombergand the medical technology firm BD announced they would sign on to a new label, WindMade, which will designate companies that usewind energy.

The idea for the new label was first announced at the World Economic Forum in Davos last year.
Nov 19, 2011 at 8:34 AM | Unregistered Commenterjohn
Nov 19, 2011 at 11:22 AM | Unregistered Commenterjohn
US Ex-Im Bank agrees $1bn package to boost Vietnam wind

Nov 23, 2011 at 10:34 AM | Unregistered Commenterjohn
Nov 25, 2011 at 7:42 AM | Unregistered Commenterjohn

Death of a carbon salesman: Chicago Climate Exchange



CHICAGO—IntercontinentalExchange Inc. told traders Friday that it would shut down its U.S. emissions derivatives platform, a year after acquiring its parent only to suffer sparse trading as the prospects of a federal carbon-reduction plan remain dim.

The money-losing Chicago Climate Futures Exchange venture will continue operating through the first quarter of 2012 before closing, exchange officials said in a notice. ICE will then list over-the-counter emissions contracts mirroring products listed on the platform.

Then this...


ICE Adds 21 Emissions Contracts to Replace Futures Exchange


Intercontinental Exchange has announced plans to launch 21 over-the-counter North American emissions contracts.

The announcement follows on the heels of news that ICE will shut its emissions derivatives trading platform, Chicago Climate Futures Exchange, by the end of Q1 2012.

The new contracts will mirror products to be lost when the futures exchange closes, the Wall Street Journal reported. New products include derivatives linked to emissions reductions plans in California, Massachusetts, New Jersey and Connecticut, ICE said.

Now this.

Carbon trading in crash mode

Nov 25, 2011 at 8:45 AM | Unregistered Commenterjohn
First FOIA request launched after Climategate 2.0 – this one to the US Department of Energy

Nov 30, 2011 at 4:48 PM | Unregistered Commenterjohn
Dec 1, 2011 at 3:57 PM | Unregistered Commenterjohn
Another one bites the dust.


Range Fuels Inc., a cellulosic ethanol company backed by as much as $156 million in U.S. loans and grants from President George W. Bush’s administration, is being forced by the government to liquidate its only factory after failing to produce the fuel.
The closely held company, which counts Vinod Khosla, a venture capitalist and Sun Microsystems Inc. co-founder, as an initial investor, shuttered the factory in Soperton, Georgia, in January after not delivering on its promise to convert woodchips into ethanol, which was intended to help the U.S. become less dependent on foreign oil.
Soperton’s failure comes after Solyndra LLC, a solar-panel maker that received a $535 million federal loan guarantee, filed for bankruptcy in September. The ethanol project received $46.3 million of a $76 million grant from the Energy Department and half of an $80 million loan from the Agriculture Department, according to each department.
Dec 3, 2011 at 5:08 PM | Unregistered Commenterjohn
Wind project in jeopardy as NRG drops contract


Bluewater President Peter Mandelstam said on Monday he holds out hope that a buyer for the offshore wind division would step forward before Dec. 23, the date by which NRG must inform Delmarva if it wishes to end the contract.
The contract is widely seen as Bluewater’s most valuable asset, and observers said it would be difficult to build the project without one.

Note: Kay J. from common dreams. looking forward to hearing from you ref: wind. (a nice dog told me about you). ; )
Dec 14, 2011 at 3:58 PM | Unregistered Commenterjohn
Regulators sue former top Fannie, Freddie execs



Disgraced Fannie Mae deep in carbon scheme
Mortgage giant set to collect millions marketing homeowners' energy savings

Dec 16, 2011 at 8:54 PM | Unregistered Commenterjohn
Why I will vote for Ron Paul and not Mitt Romney.

Mitt was responsible for “Romney Care” in Massachusetts. This is the model for Obama Care that Gingrich thought was a great idea.

Mitt also has hired firms that employ illegal aliens on 2 occasions to do landscaping at his home in Belmont, Ma.

Wall Street loves Bankers….and Bankers love global warming.

Mitt was responsible for the infamously costly Big Dig (which is still plagued with problems).

Big Dig Contractor, Jay Cashman, managed to pull a few strings and get out of a bind regarding the Big Dig and has contributed to Romney’ campaign both times. This is how crony capitalism works.


Furthermore, Jay Cashman has an in at General Electric (Obama’s favorite company) as he is also developing wind projects using GE turbines.


And has recently acquired an old air force radar site built by GE for the purpose of more wind development.


Now about that special dredging project he got…


So, we are looking at another Obama by design (in the event Obama loses).

That is why I support Ron Paul.
Jan 2, 2012 at 4:58 PM | Unregistered Commenterjohn
Mar 3, 2012 at 8:34 AM | Registered CommenterJohn
Cross posting this from the Green Energy Blues thread.

Here is one of the other scoundrels who pulled off some really nasty crap when he was governor of the State of Maine.

Angus King backs Obama for re-election, but that doesn’t mean he’d caucus with Democrats


Let me explain a little here. King was an attorney and had past ties to the energy sector in Virginia. The law firm he was associated with also specializes in RICO law.

While Governor, King used his position as governor to pick the winners, namely himself and stave off the competition until his second term was up.


After his term in office, King formed his own wind company that has received federal money (much like First Wind (which employs his son) as well as his PUC Commisioner (Kurt Adams) who got stock and a job at First Wind while he was a sitting member of the PUC.


There also were a lot of stay behind's in the next administration that moved Kings' efforts forward. Then guess what... He decided to get into the wind business


While King was reaping the rewards of his efforts, the next administration really got things rolling for them...


So much so that Governor Baldacci stated that when his term was up he would be working for the wind industry... but then changed his mind after leaving office.


Now who is Jay Cashman? His other company specializing in dredging just got a sweet contract cleaning up the PCB mess left by GE in the Hudson river and is gearing up to do work on the proposed offshore wind projects. (King is a big promoter of that folly).


We all know from my posting here that GE got stimulus money and then cancelled it's offshore efforts but never returned the money.


We also know that Jack Immelt, CEO of GE is also Obama's job czar.

There is much more, but now you know why Angus King supports Obama.

Mar 11, 2012 at 2:34 PM | Registered CommenterJohn
Mar 13, 2012 at 6:32 PM | Registered CommenterJohn
Report: US should follow Australia's lead by taxing carbon


Note: This is more fraud as a business model.
Jul 5, 2012 at 7:37 AM | Unregistered Commenterjohn
GE blames drop in wind turbine sales on tax uncertainty



General Electric, the nation's largest producer of wind turbines, is blaming a drop in orders on the uncertainty surrounding a wind-production tax credit.

GE’s wind sales fell 37 percent from the second quarter of 2011 to the same quarter in 2012, the company announced Friday in its second-quarter earnings report. Deirdre Latour, a spokeswoman for GE, attributed most of the decrease in sales to the tax credit's uncertain future.

A slew of smaller wind firms have announced layoffs in recent months, with most listing the wind tax credit as a driving factor.

Note: There are other factors too...


Jul 22, 2012 at 9:47 AM | Unregistered Commenterjohn
And this is why (they kept the money you know) all those Chinese wind turbines (with GE equipment) are being shipped to Austin?

Nov 15, 2012 at 12:16 PM | Unregistered Commenterjohn