The Green Energy scam
Image via CrunchBaseTimothy Carney:
President Obama's green energy push is rapidly proving to be a crooked racket. It works like this: Revolving-door political hires rev up subsidy programs that enrich their former employers. Then they cash out themselves, pocketing taxpayer loot while turning out energy products that range from inefficient technologies to total failures. Faster than the turbine on a subsidized wind mill, the "clean-tech" revolving door spins out green bandits who get rich off the subsidies they helped craft.There is much more.
Cathy Zoi, an Al Gore acolyte, has left her job as assistant secretary for energy efficiency and renewable energy to go to work for a new fund that invests in green energy. It was started by Democratic donor George Soros.
Her former "special assistant," Peter Roehrig, joined DOE's renewable energy office from the U.S. Renewable Energy Group. The latter is a company founded by lobbyists who saw they could pocket taxpayer dollars by acting as cutouts for Chinese windmill barons trying to get their hands on stimulus money.
There are plenty of revolving-door green bandits, but the paths of Zoi and Roehrig - both of whom passed through the Energy Efficiency and Renewable Energy office, which was responsible for $16 billion in stimulus money - exemplify how Obama's stimulus and green-energy initiatives open the door for corruption and patronage.
Zoi's tenure at EERE was rife with conflicts of interest. Her husband, Robin Roy, is an executive at Serious Materials, a small window manufacturer that boomed when Obama came to office. First, Serious Materials benefited from free advertising by the White House: President Obama praised a new Serious factory in March - before he officially nominated Zoi - and then Vice President Biden made a public visit to a different Serious plant in April, just after her nomination but before her confirmation. Finally, Serious was also the first window company to pocket a stimulus tax credit - worth $584,000 - for investing in new equipment.
Zoi testified before the Senate Energy and Natural Resources Committee in favor of a HOMESTAR program, also known as cash for caulkers, which became another subsidy for Serious.
The President found many opportunities to promote Serious Materials and their products. The so called cash for caulkers program is another example of government waste disguised as an energy saving program. Most homeowners have it within their means to own a caulk gun which cost between $5 and $10 dollars. They can also afford a few tubes of caulk. I usually have a few spares in case they are needed.
Read Carney's whole piece.