Battery Maker A123 Goes Under: More DOE Money Down the Drain

'Ultimately, the fate of US battery makers will remain tied to that of the electric car itself. And for now, no battery technology can compete cost-wise with the internal combustion engine.

“The outlook in the near future for electric cars does not look that promising,” says Daniel Scherson, an electrochemist at Case Western Reserve University in Cleveland, Ohio. “They are still just too expensive.” ' - nature.com, 10/24/2012

Link to the entire article appears below:

http://www.nature.com/news/pioneering-battery-maker-files-for-bankruptcy-1.11646

Obama vs. Keystone.....again.

U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Thursday regarding efforts by the President to lobby Democrat Senators against Senator Hoeven's amendment on the Keystone XL Pipeline:

“Last night the two parties reached agreement on amendments to the Highway Bill. I’m happy to report that there are a number of strong job creating measures in the mix. One that stands out is Senator Hoeven’s amendment on the Keystone XL Pipeline.

“Most Americans strongly support building this pipeline and the jobs that would come with it. And it’s incomprehensible to me that the President of the United States is lobbying against it.

“There’s a report this morning that President Obama is personally making phone calls to Democrat Senators he thinks might vote for this amendment. He’s asking them not to. And, frankly, it’s hard to even comprehend how out of touch he is on this issue.

“I mean, think about it: at a moment when millions are out of work, gas prices are skyrocketing and the Middle East is in turmoil, we’ve got a president who’s up making phone calls trying to block a pipeline here at home. It’s unbelievable.

“What we’re seeing in Congress this week is a study in contrasts.

“On the one hand you’ve got a Republican-controlled House that’s about to pass a bipartisan jobs bill that would help entrepreneurs and innovators by getting Washington out of the way. And today we’ve got a Democratic-controlled Senate trying to line up votes against amendments that would create jobs—and a President lobbying against the biggest one.

“We’ve got an opportunity to work together to create jobs. We can do that with these amendments. And we can do that by taking up the bipartisan jobs bill the House will pass later today.

“Let me just say a word about that. The bipartisan jobs bill the House will pass later today is supported by the President. It is ready to go, and I hope that once it gets over to the Senate we'll simply take it up and pass it.

“It's an example of a measure that is supported by Republicans and Democrats and the President that we believe will clear the House with a very large majority. I think the sooner we pass that here in the Senate and send it down to the President for signature, the better.

“With that, Mr. President, I yield the floor.”(1)

Upon Further Review

Many talking heads, pundits and media-types put forth the proposition that Obama is preventing oil independence, etc., and/or he is siding with environmentalists by opposing Keystone. Fair enough arguments.

What one doesn't seem to experience with the media is this public choice theory proposition: since Obama and his ilk built a massive network of crony capitalist green energy, a massive political constituency building exercise through use of taxpayer dollars, does not Obama have a vested interest to protect [reduce/eliminate competition] regarding such a purposely built massive network of crony capitalist green energy concerns? That is, given the network of constituency building exercises, Obama is merely acting rational to protect the purposely built network of crony capitalists.

Now consider this political economy proposition:

Many politicos with a vested interest in the crony capitalism regarding alternative energy also have a vested interest in environmentalists. As the formula goes, the politico through the mechanism of government uses taxpayer dollars to build a political constituency. In this particular case the constituencies are associated in that the crony capitalist of alternative energy “appear” to also be the champion of the environmentalist. Therefore the politico enabler receives a double constituency building outcome through the awarding of taxpayer dollars.

Notes:

(1) McConnell: President Lobbying Against Keystone XL Pipeline Jobs, Real Clear Politics, 03/08/2012

Solyndra Inc., Beacon Power, and now Ener1: Green Cronyism and Bankruptcy - Your Tax Dollar Working to Pick Losers!

“The parent company of an electric car battery maker that received a $118 million grant from the Obama administration filed for Chapter 11 bankruptcy protection on Thursday.

New York-based Ener1 said it has been affected by competition from China and other countries.

Ener1 subsidiary EnerDel received a $118 million stimulus grant from the Energy Department in 2009, and Vice President Joe Biden visited the company's new battery plant in Indiana last year.

Ener1 is the third company to seek bankruptcy protection after receiving assistance from the Energy Department under the economic stimulus law. California solar panel maker Solyndra Inc. and Beacon Power, a Massachusetts energy-storage firm, declared bankruptcy last year. Solyndra received a $528 million federal loan, while Beacon Power got a $43 million loan guarantee.” -Fox News, 01/27/2012

Below is a link to the entire article which includes video.


http://www.foxnews.com/politics/2012/01/27/parent-obama-backed-battery-maker-goes-bankrupt/