Obama’s Green Energy disaster is China’s Black Friday shopping bonanza.
The Energy Department has sold off its $192 million loan guarantee to Fisker Automotive to Chinese billionaire Richard Li for $25 million — the biggest taxpayer loss on a green loan since the failure of Solyndra.
The DOE sold the loan to Li for $25 million after lending the financially troubled green automaker a total of $192 million since 2009.
How did Fisker get that $192 million? Just ask Al.
Fisker backers were also heavily involved in lobbying the Obama administration and Congress on green energy programs. The venture capital firm Kleiner, Perkins, Caufield and Byers — where Gore is a partner — was a seed investor in Fisker and spent $400,000 in 2009 and 2010 on lobbying. The firm lobbied in favor of the stimulus bill that handed out $90 billion for green energy programs.
Employees of KPCB have donated more than $2.2 million to political campaigns, mostly for Democrats, including President Barack Obama and Hillary Clinton, according to the Center for Responsive Politics, a nonpartisan group that tracks campaign contributions.
Other Fisker investors include Eco-Drive (Capital) Partners LLC, an investment consortium, and Qatar Investment Authority, a state-run investor based in Qatar.
So Al Jazeera’s oil tyranny was an investor in a Green car that got sold off at bargain basement prices to China. But as usual, American taxpayers were the biggest involuntary investors.