Electric-Car Firm That Received Biden Visit and $118M in Stimulus Funds Files for Bankruptcy
(CNSNews.com) - Ener1--a company that manufactures batteries for electric cars, and that received $118.5 million in federal stimulus money, and that Vice President Joe Biden visited last year the day after President Obama’s State of the Union Address—announced today that it has filed for Chapter 11 bankruptcy protection.
In last year’s State of the Union Address, delivered Jan. 25, 2011, President Obama set a national goal of having a million electric vehicles on the road in the United States by 2015—a goal that would be achieved, Obama said, by taking money out of the oil industry and “investing” it in new technology.
“With more research and incentives, we can break our dependence on oil with biofuels and become the first country to have a million electric vehicles on the road by 2015,” said Obama.
One million electric vehicles by 2015? And we can't even build a battery? With a few more bankruptcies and failures of Obama's green giveaways, we can reach 10 billion dollars of wasted taxpayers money with not a single return on our investment. Obama is a failure. The bullsh** meter is peaking.
I love watching these fools trying to force their "vision" without enough knowledge of technology and economics. They would be better off trying to increase the unicorn population.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
CritiKalbILL wrote: I love watching these fools trying to force their "vision" without enough knowledge of technology and economics. They would be better off trying to increase the unicorn population.
