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    'A Political Beast': DOE-Backed Ecotality's Extensive Political Muscle

    As a congressional panel looks into federal support for a major electric vehicle charging station manufacturer, more questions about the company’s political connections are surfacing. They speak to a virtual constant among recipients of federal “green energy” money: beneficiaries enjoy significant political connections. The company in question, Ecotality, has received … More

    Energy Department Can't Locate $500,000 in Stimulus Money

    The Energy Department can’t figure out how hundreds of thousands of dollars in “green energy” stimulus money earmarked for manufacturing equipment was spent, according to a new report from the agency’s Inspector General. DOE’s IG stated in a July 2012 audit report that $500,000 of equipment bought with stimulus money to … More

    Lobbying Pays Off in Latest Batch of Energy Department Handouts

    Green-energy lobbying firm Liebman & Associates is up front about the service it provides. “With Mr. Liebman’s strategic counsel,” explains the bio of President Murray Liebman, “L&A’s clients have secured well over one billion dollars ($1B) in federal government investment.” Liebman followed through on that claim this week. The former staffer … More

    Politically Connected VC Firms Double Down on Taxpayer-Backed Companies

    Some highly-connected venture capital firms are upping their investments in green energy companies after those companies received taxpayer backing. A pair of top investment firms have increased their stakes in two companies that benefited from federal “investment.” By 2010, solar company Solexel had received investment from some of the most politically-connected venture … More

    Obama Slams Private Equity, But His Own 'Investors' Do Quite Well

    President Obama and his surrogates have repeatedly insisted that federal backing for green energy companies like Solyndra is somehow superior to private equity investing, since federal bureaucrats are concerned with more than enriching investors. But “investors” in an Obama presidency – i.e. his top supporters – have reaped the benefits … More

    Federal Watchdog: DOE Didn't Assess Financial Health of Subsidized Firms

    The Energy Department’s inspector general released a report recently highlighting the lack of financial oversight in the Department’s electric vehicle funding program. The report underscores problems with some of the program’s beneficiaries highlighted here at Scibe and under scrutiny by congressional investigators. The IG report focuses on DOE’s Transportation Electrification … More

    After Massive Losses, Stimulus-Backed Company Asks for More Taxpayer Cash

    A financially troubled green energy company has seen its stock prices plummet to below a dollar per share (UPDATE: see below) since receiving a nearly $250 million federal grant in 2009. The company lost $257.7 million last year. Two of its clients make up half of its business, and one is … More

    Taxpayer-Backed Green Energy Firms Struggle, But Hike Executive Pay

    When insurance giant AIG paid lucrative bonuses to top executives after receiving federal support, President Obama asked, “How do they justify this outrage to the taxpayers who are keeping the company afloat?” But three years later, numerous green energy companies backed financially by the administration are paying out large salaries … More

    Congressman May Subpoena DOE on Stimulus Funding for Ecotality

    The Energy Department has yet to comply with a congressional request for information on a stimulus-backed company under investigation for insider trading and facing serious financial difficulties. Rep. Andy Harris (R-MD), who chairs the House Energy and Environment Subcommittee on Science, Space, and Technology, asked Energy Secretary Steven Chu for … More

    Ecotality Examined: Big Executive Bonuses as DOE Keeps Company Afloat

    The final part of a three-part series. As Scribe noted in part two of our series on Ecotality, a company spokeswoman claimed in 2010 that federal support for the company was indicative of the success of the stimulus package. But was Ecotality really a good bet for taxpayers? In addition … More