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	<title>Comments on: Nearly $1 Billion in Vogtle Nuclear Reactor Overruns (So Far) &#8212; Who&#8217;s Surprised?</title>
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	<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/</link>
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	<item>
		<title>By: Zachary Shahan</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-127929</link>
		<dc:creator><![CDATA[Zachary Shahan]]></dc:creator>
		<pubDate>Wed, 25 Jul 2012 16:22:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-127929</guid>
		<description><![CDATA[I love it when people write about something they know nothing about -- makes my day.

I&#039;ve been reading and writing about energy professionally for 3 years now. I regularly see experts in the arena saying things, coming to grand realizations, that we here on CleanTechnica were covering 1, 2, or even 3 years ago.

Not sure what you mean by &quot;ambassador of the environment,&quot; but yes, my bachelor&#039;s degree (from the Honors College of Florida) was a double major in environmental studies and sociology, which covered many of the things I&#039;m writing about today. You don&#039;t often see a lawyer criticized for studying law in college, so it seems odd to think that my educational background doesn&#039;t match what i&#039;m writing about.

as for all the other info you copy &amp; pasted in here, it looks like Bob has done a good job spending his free time debunking your myths (i won&#039;t call them lies, since i don&#039;t know if you actually believe them or not).

as Bob noted though, if you&#039;d like to retain your commenting privileges on this site, you should be careful to check completely absurd claims before posting them.]]></description>
		<content:encoded><![CDATA[<p>I love it when people write about something they know nothing about &#8212; makes my day.</p>
<p>I&#8217;ve been reading and writing about energy professionally for 3 years now. I regularly see experts in the arena saying things, coming to grand realizations, that we here on CleanTechnica were covering 1, 2, or even 3 years ago.</p>
<p>Not sure what you mean by &#8220;ambassador of the environment,&#8221; but yes, my bachelor&#8217;s degree (from the Honors College of Florida) was a double major in environmental studies and sociology, which covered many of the things I&#8217;m writing about today. You don&#8217;t often see a lawyer criticized for studying law in college, so it seems odd to think that my educational background doesn&#8217;t match what i&#8217;m writing about.</p>
<p>as for all the other info you copy &amp; pasted in here, it looks like Bob has done a good job spending his free time debunking your myths (i won&#8217;t call them lies, since i don&#8217;t know if you actually believe them or not).</p>
<p>as Bob noted though, if you&#8217;d like to retain your commenting privileges on this site, you should be careful to check completely absurd claims before posting them.</p>
]]></content:encoded>
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	<item>
		<title>By: Bob_Wallace</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-127869</link>
		<dc:creator><![CDATA[Bob_Wallace]]></dc:creator>
		<pubDate>Wed, 25 Jul 2012 04:37:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-127869</guid>
		<description><![CDATA[&quot;
The undisputable fact is this president has amassed more debt in just over three years than the previous president did in eight. While he may have inherited the recession (aka Bush’s fault), he has managed to do everything possible to prevent its recovery.&quot;


The national debt increased $11 trillion under Bush.  It increased $5 trillion under PBO.

To claim that PBO has &quot;managed to do everything possible to prevent its recovery&quot; is a blatant lie.

You want to participate in conversations here?  Then follow the rules.  You are not allowed to make shit up.
]]></description>
		<content:encoded><![CDATA[<p>&#8221;<br />
The undisputable fact is this president has amassed more debt in just over three years than the previous president did in eight. While he may have inherited the recession (aka Bush’s fault), he has managed to do everything possible to prevent its recovery.&#8221;</p>
<p>The national debt increased $11 trillion under Bush.  It increased $5 trillion under PBO.</p>
<p>To claim that PBO has &#8220;managed to do everything possible to prevent its recovery&#8221; is a blatant lie.</p>
<p>You want to participate in conversations here?  Then follow the rules.  You are not allowed to make shit up.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Bob_Wallace</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-127867</link>
		<dc:creator><![CDATA[Bob_Wallace]]></dc:creator>
		<pubDate>Wed, 25 Jul 2012 04:23:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-127867</guid>
		<description><![CDATA[Solyndra.  This was more of a Bush administration than Obama administration project.  The application was filed under Bush and the Bush people pushed on the DOE review committee to approve it.  
The application was not complete, it was returned for completion, it came back to DOE and the exact same group of people approved the loan guarantee shortly after PBO came to office.

The CEO of Solyndra was a Republican.

George Kaiser was not an investor in Solyndra.  A non-profit corp that his family had established did have some money invested but neither George nor any other member of his family stood to gain from Solyndra.

At the time, of the loan guarantee Solyndra made sense, both within the renewable energy field and to the financial industry.  PV panels were very expensive and Solyndra had a way of getting more from less photosensitive material and cutting installation costs.

But after Solyndra started manufacturing and building a larger factory (loan guarantee) the price of solar panels plummeted.  No one saw that coming.  No one predicted the extremely rapid price drop.

That price drop undercut Solyndra and put them out of business.

Everything else is right-wing spin.]]></description>
		<content:encoded><![CDATA[<p>Solyndra.  This was more of a Bush administration than Obama administration project.  The application was filed under Bush and the Bush people pushed on the DOE review committee to approve it.  <br />
The application was not complete, it was returned for completion, it came back to DOE and the exact same group of people approved the loan guarantee shortly after PBO came to office.</p>
<p>The CEO of Solyndra was a Republican.</p>
<p>George Kaiser was not an investor in Solyndra.  A non-profit corp that his family had established did have some money invested but neither George nor any other member of his family stood to gain from Solyndra.</p>
<p>At the time, of the loan guarantee Solyndra made sense, both within the renewable energy field and to the financial industry.  PV panels were very expensive and Solyndra had a way of getting more from less photosensitive material and cutting installation costs.</p>
<p>But after Solyndra started manufacturing and building a larger factory (loan guarantee) the price of solar panels plummeted.  No one saw that coming.  No one predicted the extremely rapid price drop.</p>
<p>That price drop undercut Solyndra and put them out of business.</p>
<p>Everything else is right-wing spin.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Bob_Wallace</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-127838</link>
		<dc:creator><![CDATA[Bob_Wallace]]></dc:creator>
		<pubDate>Tue, 24 Jul 2012 22:26:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-127838</guid>
		<description><![CDATA[Brian, a lot of stuff.  I&#039;m sure some of us will have fun responding to you.

Let me address one little claim on your part and then get on with pouring some concrete....

Here&#039;s you - &quot;The &quot;trouble&quot; lies in the infinite government regulatory hurdles of environmental impact to some protected newt, uninformed watchdog groups, and an endless list of others. The &quot;trouble&quot; is not in the reactor itself or its design.&quot;

Here&#039;s the news -

&quot;Southern Nuclear notified the commission in March that minor settling beneath the reactor’s “mudmat” made it a few inches off level and would require changes.The mudmat lies beneath the concrete “basemat” on which nuclear buildings will sit. The current license allows a 1-inch variability in the levelness of the basemat, and the requested amendment would increase that leeway to 4 inches, allowing engineers to level the surface by using more concrete when the basemat is poured.A second issue, involving rebar that is not consistent with the design standard, is also being corrected this week. Workers began corrective actions Friday that include welding the rebar fasteners to bring them into compliance.&quot;http://chronicle.augusta.com/latest-news/2012-06-26/vogtle-foundation-change-can-proceed-nrc-ruling Screwups = slowdowns = higher costs.]]></description>
		<content:encoded><![CDATA[<p>Brian, a lot of stuff.  I&#8217;m sure some of us will have fun responding to you.</p>
<p>Let me address one little claim on your part and then get on with pouring some concrete&#8230;.</p>
<p>Here&#8217;s you &#8211; &#8220;The &#8220;trouble&#8221; lies in the infinite government regulatory hurdles of environmental impact to some protected newt, uninformed watchdog groups, and an endless list of others. The &#8220;trouble&#8221; is not in the reactor itself or its design.&#8221;</p>
<p>Here&#8217;s the news &#8211;</p>
<p>&#8220;Southern Nuclear notified the commission in March that minor settling beneath the reactor’s “mudmat” made it a few inches off level and would require changes.The mudmat lies beneath the concrete “basemat” on which nuclear buildings will sit. The current license allows a 1-inch variability in the levelness of the basemat, and the requested amendment would increase that leeway to 4 inches, allowing engineers to level the surface by using more concrete when the basemat is poured.A second issue, involving rebar that is not consistent with the design standard, is also being corrected this week. Workers began corrective actions Friday that include welding the rebar fasteners to bring them into compliance.&#8221;http://chronicle.augusta.com/latest-news/2012-06-26/vogtle-foundation-change-can-proceed-nrc-ruling Screwups = slowdowns = higher costs.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Brian Ager</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-127834</link>
		<dc:creator><![CDATA[Brian Ager]]></dc:creator>
		<pubDate>Tue, 24 Jul 2012 22:08:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-127834</guid>
		<description><![CDATA[If you are interested, I have a list of references used for the piece.]]></description>
		<content:encoded><![CDATA[<p>If you are interested, I have a list of references used for the piece.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Brian Ager</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-127832</link>
		<dc:creator><![CDATA[Brian Ager]]></dc:creator>
		<pubDate>Tue, 24 Jul 2012 22:06:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-127832</guid>
		<description><![CDATA[     I looked at your bio. So you have really zero background in engineering and/or any form of power production. You have spent your adult life as a community/city organizer and planner and student/ambassador of the environment. It is not my intention to sound belittling, but I believe your opinion is not grounded in substantiated knowledge or fact. 
     This administration has completely squandered over 6.5 billion in loan guarantees for alternative &quot;green&quot; energy endeavors that the taxpayers will not see one cent returned. One of the most recent failures is Nevada
Geothermal Power, a project highly touted by Harry Reid. While nuclear power is not &quot;too cheap to meter&quot; as heralded nearly 4 decades ago, this is entirely due to government regulation. While oversight is important, too much is expensive and painful. In addition to the NRC, we are also self-policed as an industry by INPO. I say &quot;we&quot; because I spent 8 years as a Reactor Operator in the Navy, and have been in operations and operations training in commercial nuclear power since 1997. 
     I am not opposed to exploring alternative forms of energy, but the notion that wind, solar, and geothermal can meet the power demands of our nation is uninformed and naive. You cannot sustain base load with alternative power that is reliant on a shining sun and blowing wind. Concerning the other methods we employ for base loading, I am sure your background in environmental studies provides you an understanding of the emissions produced due to generation using coal and gas. This is in stark contrast to the zero carbon emission from nuclear production.
      I welcome peoples&#039; opinions and the debates concerning a renaissance in nuclear power. However, I abhor purposely misleading statements such as the one in the first paragraph of your blog stating &quot;the controversial nuclear reactors are already in trouble”. That shock quote is intended to incite fear through peoples&#039; ignorance. The &quot;trouble&quot; lies in the infinite government regulatory hurdles of environmental impact to some protected newt, uninformed watchdog groups, and an endless list of others. The &quot;trouble&quot; is not in the reactor itself or its design. The new reactor designs are so much safer than the designs of over 4 decades ago, with a reliance on safety systems that are completely passive. 
      Again, I completely encourage exploring new technologies. However, we have the technology to build a complete new fleet of nuclear power plants that is inherently safe, and possesses the ability to provide power and jobs for decades to come. The stimulus money wasted on all the failed alternative power projects could have went to a plant that would hire thousands of workers for a period of 5-8 years for construction, and approximately a thousand workers for over 4 decades. 
   Here is a piece I recently wrote:



The crusade of this administration&#039;s
&quot;green&quot; initiatives has fallen short. The most recent addition to the
long list of flailing or failed is Nevada Geothermal Power. After avowing that
this would “put Nevadans to work” and Nevada would be the “Saudi Arabia of
geothermal energy”, the pugilistic progressive from Nevada (Harry Reid) and
Energy Secretary Steven Chu gave their cross our heart and hope to die
endorsements to the Obama administration. Of course, this was all the blessing
needed for a 98.5 million dollar loan guarantee to a company that had an
existing facility up and running. The 98.5 million did not add any new
construction or create a new job. A little FYI, when they guaranteed the loan NPG’s
credit rating was BB+ (a.k.a. speculative, junk, below investment grade). That
being said, let us take a look (and some blood pressure medicine) at the Obama
administration’s record (and over 6.5 billion taxpayer dollars from those of us
that still pay taxes) for all this wonderful touchy feely green initiatives.



Solyndra




Days
before this California based company (hoorah for Feinstein, Boxer, and Pelosi-more
on her later) received a 535 million dollar loan guarantee Obama administration
officials warned that the loan was a bad move. The thinkers in the group were
budget analysts Mathew Mosk, Brian Ross, and Ronnie Green, and Biden’s chief of
staff, Ronald A. Klain. As we all know Solyndra went belly up in August 2011.
Surely there were no hands in the presidential cookie jar, so how did the
surgeon of spin attempt to remove any accountability and responsibility? 



Stage
one was to state they had no idea that Solyndra was in bad shape. This is tough
to sell when you have White House emails from the three analysts. This alone is
enough to elicit the liar liar pants on fire retort. Stage one is officially
debunked. Stage two is, wait for it, wait for it,…….blame Bush. During an
October press conference Obama said that the loan guarantee was a Bush
initiative under the Energy Policy Act of 2005 and “all of them (Congress) in
the past have been supportive of the loan guarantee program”. Well at least
there is an ounce of truth buried in this one. The following comes directly
from the DOE website. Section 1703,
Title XVII, of the Energy Policy Act of 2005 was created to provide self-pay
credit subsidy loan guarantees to U.S.
(not Finnish aka Fisker Automotive) companies developing “a new or
significantly improved technology that is NOT a commercial technology”. A
self-pay credit subsidy loan charges the borrower the amount the government
would lose over the life of the loan including lost interest, application,
facility, and maintenance fees. The loan also guarantees that your tax dollars
will pay the loan if the borrower defaults. These costs can range from 1-30% of
the loan. However, Solyndra’s entire loan came from the amended Section 1705 (not 1703), Title XVII, of
the Energy Policy Act of 2005. The amendment was created under the American
Recovery and Reinvestment Act of 2009, also known as the stimulus law, for “commercially
available technologies,” This amendment provided more funding and had no
credit subsidy fees meaning the company didn’t have to secure any money for the
loan guarantee. Since it was his bright idea to spend us out of debt, it definitely
did not predate Obama. Stage two is officially debunked. For the sweeping
bi-partisan support claim, in 2005, the Republican controlled House and Senate
passed the Energy Policy Act. The House vote was 275-156 with 31 Republicans
voting nay, and the Senate vote was 74-26 with 6 Republicans, Biden, and
Hillary, who criticized the bill as too generous to the oil industry, voting
nay. 



Now
for some dirt behind the Solyndra deal. First we have billionaire
George Kaiser, a private investor in the Solyndra deal who just happened to be
a fundraiser for Obama during the 2008 presidential election cycle. Up next we
have another presidential backer, Steve Spinner. Ole Stevie boy raised about
$500,000 for candidate Obama back in 2008 and subsequently got a top job in the
Energy Department, where he was now able to influence the $535 million loan
guarantee for Solyndra. By sheer coincidence Spinner&#039;s wife worked for a law
firm representing Solyndra at the time. 



Beacon Power



This gem had allegedly had a Standard &amp; Poor
(S&amp;P) rating of CCC-plus, which is the same as being rated as a junk bond,
before it was doled out 43 million in unsecured taxpayer money. When asked
about personally investing in Beacon Power, economist Peter Morici (the bow tie
sporting fella in the Kyocera commercials) said he wouldn’t do it on purpose
stating that it wasn’t even good junk bond (oxymoron anyone). When it went
belly up with our tax dollars in Oct. 2011, those not financially hurt by it
were CEO William Capp (a 2008 Obama donor) and lobbyist Steve Wolfe (former
aide to the late Sen. Ted Kennedy).



BrightSource



These
guys received 1.4 billion, yes with a B. These entrepreneurs were neck deep in
debt to the tune of 1.8 billion losing 71.6 million to their 13.5 million in
revenue. For those of you possessing the ability to balance your family
checkbook, more goes-outs than come-ins equates to you living beyond your
means. No B.S. flags to be thrown here, despite the fact that the company’s
largest shareholder is Kennedy’s VantagePoint Partners. Who pushed to secure
this loan guarantee? None other than Robert F. Kennedy Jr. You remember him.
The guy that got busted for heroin possession back in 1983 and got 2 years
probation. Who else was a big player in this firm you ask? Let’s talk about
former venture capitalist Sanjay Wagle (or vampire capitalist when talking
about Romney). Sanjay, a big player fundraiser for Obama in 2008, left the
private sector for a position in….you guessed it the Department of Energy. Since
his appointment 2.8 billion dollars have been steered to companies that
Sanjay’s old firm, Vantage Point Partners, have investments in.



 



Fisker
Automotive



Remember
that awesome electric car that was going to be built here in the USA and all
the jobs that would be created in Delaware all for a paltry 528 million.
Evidently what we weren’t made privy to was the confusion of Delaware sounds an
awful lot like Finland. What firm is behind Fisker? Well that would be Kleiner
Perkins Caufield &amp; Byers a venture capital firm in which Al Gore is a
partner. But hey remember this project had the full support of Gilbert Grape.
This was half of the 1 billion dollar wheel spin lumped in with Tesla motors
backed by Google co-founders Larry Page and Sergey Brin. It may have been worth
it though. If you want, look at the Consumer Reports test of the Fisker Karma
where it died on the test lot.



First Solar



            After dropping 73% on the S&amp;P
500 index, these guys won the label of worst performer in 2011 by BusinessWeek.
With millions spent on lobbying that pesky moniker wasn’t going to stop Obama
from awarding a mere 3 billion of our dollars in grants on its slow death.



            I know enough already, “no mas”. We
could continue on with the Pelosi connection to Tonopah Solar Energy, her board
sitting brother-in-law, and the 737 million there. If you still want to keep
going research the 1.4 billion going to Project Amp. The undisputable fact is
this president has amassed more debt in just over three years than the previous
president did in eight. While he may have inherited the recession (aka Bush’s
fault), he has managed to do everything possible to prevent its recovery.
Remember, he had the numbers and friends to do/undo anything he wanted from
2008-2010. All of this money has been wasted on profiting donors and friends
for energy sources that when combined supply less than 2% of America’s energy
(and that’s only if the sun is shining, wind blowing etc.). I do have a little
knowledge and insight into this as I have been in the business of producing
power for over 20 years. Of course it sure doesn’t help when you have a
Secretary of Energy that wants to boost gas prices to the levels seen in
Europe. By the way, that’s in the neighborhood of 8-10 bucks a gallon, and that
is one expensive neighborhood.


]]></description>
		<content:encoded><![CDATA[<p>     I looked at your bio. So you have really zero background in engineering and/or any form of power production. You have spent your adult life as a community/city organizer and planner and student/ambassador of the environment. It is not my intention to sound belittling, but I believe your opinion is not grounded in substantiated knowledge or fact. <br />
     This administration has completely squandered over 6.5 billion in loan guarantees for alternative &#8220;green&#8221; energy endeavors that the taxpayers will not see one cent returned. One of the most recent failures is Nevada<br />
Geothermal Power, a project highly touted by Harry Reid. While nuclear power is not &#8220;too cheap to meter&#8221; as heralded nearly 4 decades ago, this is entirely due to government regulation. While oversight is important, too much is expensive and painful. In addition to the NRC, we are also self-policed as an industry by INPO. I say &#8220;we&#8221; because I spent 8 years as a Reactor Operator in the Navy, and have been in operations and operations training in commercial nuclear power since 1997.<br />
     I am not opposed to exploring alternative forms of energy, but the notion that wind, solar, and geothermal can meet the power demands of our nation is uninformed and naive. You cannot sustain base load with alternative power that is reliant on a shining sun and blowing wind. Concerning the other methods we employ for base loading, I am sure your background in environmental studies provides you an understanding of the emissions produced due to generation using coal and gas. This is in stark contrast to the zero carbon emission from nuclear production.<br />
      I welcome peoples&#8217; opinions and the debates concerning a renaissance in nuclear power. However, I abhor purposely misleading statements such as the one in the first paragraph of your blog stating &#8220;the controversial nuclear reactors are already in trouble”. That shock quote is intended to incite fear through peoples&#8217; ignorance. The &#8220;trouble&#8221; lies in the infinite government regulatory hurdles of environmental impact to some protected newt, uninformed watchdog groups, and an endless list of others. The &#8220;trouble&#8221; is not in the reactor itself or its design. The new reactor designs are so much safer than the designs of over 4 decades ago, with a reliance on safety systems that are completely passive.<br />
      Again, I completely encourage exploring new technologies. However, we have the technology to build a complete new fleet of nuclear power plants that is inherently safe, and possesses the ability to provide power and jobs for decades to come. The stimulus money wasted on all the failed alternative power projects could have went to a plant that would hire thousands of workers for a period of 5-8 years for construction, and approximately a thousand workers for over 4 decades.<br />
   Here is a piece I recently wrote:</p>
<p>The crusade of this administration&#8217;s<br />
&#8220;green&#8221; initiatives has fallen short. The most recent addition to the<br />
long list of flailing or failed is Nevada Geothermal Power. After avowing that<br />
this would “put Nevadans to work” and Nevada would be the “Saudi Arabia of<br />
geothermal energy”, the pugilistic progressive from Nevada (Harry Reid) and<br />
Energy Secretary Steven Chu gave their cross our heart and hope to die<br />
endorsements to the Obama administration. Of course, this was all the blessing<br />
needed for a 98.5 million dollar loan guarantee to a company that had an<br />
existing facility up and running. The 98.5 million did not add any new<br />
construction or create a new job. A little FYI, when they guaranteed the loan NPG’s<br />
credit rating was BB+ (a.k.a. speculative, junk, below investment grade). That<br />
being said, let us take a look (and some blood pressure medicine) at the Obama<br />
administration’s record (and over 6.5 billion taxpayer dollars from those of us<br />
that still pay taxes) for all this wonderful touchy feely green initiatives.</p>
<p>Solyndra</p>
<p>Days<br />
before this California based company (hoorah for Feinstein, Boxer, and Pelosi-more<br />
on her later) received a 535 million dollar loan guarantee Obama administration<br />
officials warned that the loan was a bad move. The thinkers in the group were<br />
budget analysts Mathew Mosk, Brian Ross, and Ronnie Green, and Biden’s chief of<br />
staff, Ronald A. Klain. As we all know Solyndra went belly up in August 2011.<br />
Surely there were no hands in the presidential cookie jar, so how did the<br />
surgeon of spin attempt to remove any accountability and responsibility? </p>
<p>Stage<br />
one was to state they had no idea that Solyndra was in bad shape. This is tough<br />
to sell when you have White House emails from the three analysts. This alone is<br />
enough to elicit the liar liar pants on fire retort. Stage one is officially<br />
debunked. Stage two is, wait for it, wait for it,…….blame Bush. During an<br />
October press conference Obama said that the loan guarantee was a Bush<br />
initiative under the Energy Policy Act of 2005 and “all of them (Congress) in<br />
the past have been supportive of the loan guarantee program”. Well at least<br />
there is an ounce of truth buried in this one. The following comes directly<br />
from the DOE website. Section 1703,<br />
Title XVII, of the Energy Policy Act of 2005 was created to provide self-pay<br />
credit subsidy loan guarantees to U.S.<br />
(not Finnish aka Fisker Automotive) companies developing “a new or<br />
significantly improved technology that is NOT a commercial technology”. A<br />
self-pay credit subsidy loan charges the borrower the amount the government<br />
would lose over the life of the loan including lost interest, application,<br />
facility, and maintenance fees. The loan also guarantees that your tax dollars<br />
will pay the loan if the borrower defaults. These costs can range from 1-30% of<br />
the loan. However, Solyndra’s entire loan came from the amended Section 1705 (not 1703), Title XVII, of<br />
the Energy Policy Act of 2005. The amendment was created under the American<br />
Recovery and Reinvestment Act of 2009, also known as the stimulus law, for “commercially<br />
available technologies,” This amendment provided more funding and had no<br />
credit subsidy fees meaning the company didn’t have to secure any money for the<br />
loan guarantee. Since it was his bright idea to spend us out of debt, it definitely<br />
did not predate Obama. Stage two is officially debunked. For the sweeping<br />
bi-partisan support claim, in 2005, the Republican controlled House and Senate<br />
passed the Energy Policy Act. The House vote was 275-156 with 31 Republicans<br />
voting nay, and the Senate vote was 74-26 with 6 Republicans, Biden, and<br />
Hillary, who criticized the bill as too generous to the oil industry, voting<br />
nay. </p>
<p>Now<br />
for some dirt behind the Solyndra deal. First we have billionaire<br />
George Kaiser, a private investor in the Solyndra deal who just happened to be<br />
a fundraiser for Obama during the 2008 presidential election cycle. Up next we<br />
have another presidential backer, Steve Spinner. Ole Stevie boy raised about<br />
$500,000 for candidate Obama back in 2008 and subsequently got a top job in the<br />
Energy Department, where he was now able to influence the $535 million loan<br />
guarantee for Solyndra. By sheer coincidence Spinner&#8217;s wife worked for a law<br />
firm representing Solyndra at the time. </p>
<p>Beacon Power</p>
<p>This gem had allegedly had a Standard &amp; Poor<br />
(S&amp;P) rating of CCC-plus, which is the same as being rated as a junk bond,<br />
before it was doled out 43 million in unsecured taxpayer money. When asked<br />
about personally investing in Beacon Power, economist Peter Morici (the bow tie<br />
sporting fella in the Kyocera commercials) said he wouldn’t do it on purpose<br />
stating that it wasn’t even good junk bond (oxymoron anyone). When it went<br />
belly up with our tax dollars in Oct. 2011, those not financially hurt by it<br />
were CEO William Capp (a 2008 Obama donor) and lobbyist Steve Wolfe (former<br />
aide to the late Sen. Ted Kennedy).</p>
<p>BrightSource</p>
<p>These<br />
guys received 1.4 billion, yes with a B. These entrepreneurs were neck deep in<br />
debt to the tune of 1.8 billion losing 71.6 million to their 13.5 million in<br />
revenue. For those of you possessing the ability to balance your family<br />
checkbook, more goes-outs than come-ins equates to you living beyond your<br />
means. No B.S. flags to be thrown here, despite the fact that the company’s<br />
largest shareholder is Kennedy’s VantagePoint Partners. Who pushed to secure<br />
this loan guarantee? None other than Robert F. Kennedy Jr. You remember him.<br />
The guy that got busted for heroin possession back in 1983 and got 2 years<br />
probation. Who else was a big player in this firm you ask? Let’s talk about<br />
former venture capitalist Sanjay Wagle (or vampire capitalist when talking<br />
about Romney). Sanjay, a big player fundraiser for Obama in 2008, left the<br />
private sector for a position in….you guessed it the Department of Energy. Since<br />
his appointment 2.8 billion dollars have been steered to companies that<br />
Sanjay’s old firm, Vantage Point Partners, have investments in.</p>
<p> </p>
<p>Fisker<br />
Automotive</p>
<p>Remember<br />
that awesome electric car that was going to be built here in the USA and all<br />
the jobs that would be created in Delaware all for a paltry 528 million.<br />
Evidently what we weren’t made privy to was the confusion of Delaware sounds an<br />
awful lot like Finland. What firm is behind Fisker? Well that would be Kleiner<br />
Perkins Caufield &amp; Byers a venture capital firm in which Al Gore is a<br />
partner. But hey remember this project had the full support of Gilbert Grape.<br />
This was half of the 1 billion dollar wheel spin lumped in with Tesla motors<br />
backed by Google co-founders Larry Page and Sergey Brin. It may have been worth<br />
it though. If you want, look at the Consumer Reports test of the Fisker Karma<br />
where it died on the test lot.</p>
<p>First Solar</p>
<p>            After dropping 73% on the S&amp;P<br />
500 index, these guys won the label of worst performer in 2011 by BusinessWeek.<br />
With millions spent on lobbying that pesky moniker wasn’t going to stop Obama<br />
from awarding a mere 3 billion of our dollars in grants on its slow death.</p>
<p>            I know enough already, “no mas”. We<br />
could continue on with the Pelosi connection to Tonopah Solar Energy, her board<br />
sitting brother-in-law, and the 737 million there. If you still want to keep<br />
going research the 1.4 billion going to Project Amp. The undisputable fact is<br />
this president has amassed more debt in just over three years than the previous<br />
president did in eight. While he may have inherited the recession (aka Bush’s<br />
fault), he has managed to do everything possible to prevent its recovery.<br />
Remember, he had the numbers and friends to do/undo anything he wanted from<br />
2008-2010. All of this money has been wasted on profiting donors and friends<br />
for energy sources that when combined supply less than 2% of America’s energy<br />
(and that’s only if the sun is shining, wind blowing etc.). I do have a little<br />
knowledge and insight into this as I have been in the business of producing<br />
power for over 20 years. Of course it sure doesn’t help when you have a<br />
Secretary of Energy that wants to boost gas prices to the levels seen in<br />
Europe. By the way, that’s in the neighborhood of 8-10 bucks a gallon, and that<br />
is one expensive neighborhood.</p>
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	</item>
	<item>
		<title>By: Bob_Wallace</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-124243</link>
		<dc:creator><![CDATA[Bob_Wallace]]></dc:creator>
		<pubDate>Mon, 18 Jun 2012 01:04:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-124243</guid>
		<description><![CDATA[Who, what comment?

Do you have a point to make?  ]]></description>
		<content:encoded><![CDATA[<p>Who, what comment?</p>
<p>Do you have a point to make?  </p>
]]></content:encoded>
	</item>
	<item>
		<title>By: 145mat</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-124242</link>
		<dc:creator><![CDATA[145mat]]></dc:creator>
		<pubDate>Mon, 18 Jun 2012 00:45:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-124242</guid>
		<description><![CDATA[I&#039;m out here in Arizonia, maybe you need to research the cost of solar fields and the amount of land needed to create the power that is equal to one nuke, before you make acomment like that]]></description>
		<content:encoded><![CDATA[<p>I&#8217;m out here in Arizonia, maybe you need to research the cost of solar fields and the amount of land needed to create the power that is equal to one nuke, before you make acomment like that</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Zachary Shahan</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-121501</link>
		<dc:creator><![CDATA[Zachary Shahan]]></dc:creator>
		<pubDate>Sun, 20 May 2012 11:17:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-121501</guid>
		<description><![CDATA[yep.]]></description>
		<content:encoded><![CDATA[<p>yep.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: CaptD</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-121437</link>
		<dc:creator><![CDATA[CaptD]]></dc:creator>
		<pubDate>Sat, 19 May 2012 14:00:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-121437</guid>
		<description><![CDATA[&quot;weasel words&quot; and Nuclear go so well together...  Like Nuclear Safety!]]></description>
		<content:encoded><![CDATA[<p>&#8220;weasel words&#8221; and Nuclear go so well together&#8230;  Like Nuclear Safety!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: CaptD</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-121436</link>
		<dc:creator><![CDATA[CaptD]]></dc:creator>
		<pubDate>Sat, 19 May 2012 13:59:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-121436</guid>
		<description><![CDATA[We, the US taxpayers should be so lucky!
Liked]]></description>
		<content:encoded><![CDATA[<p>We, the US taxpayers should be so lucky!<br />
Liked</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: CaptD</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-121435</link>
		<dc:creator><![CDATA[CaptD]]></dc:creator>
		<pubDate>Sat, 19 May 2012 13:58:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-121435</guid>
		<description><![CDATA[Seems the South is now firmly under the THUMB of nuclear fascism* while the entire USA is now on the HOOK to pick up the tab if anything goes wrong; where is the fairness in that?

*Nuclear Fascism
 http://www.urbandictionary.com/define.php?term=nuclear+fascism]]></description>
		<content:encoded><![CDATA[<p>Seems the South is now firmly under the THUMB of nuclear fascism* while the entire USA is now on the HOOK to pick up the tab if anything goes wrong; where is the fairness in that?</p>
<p>*Nuclear Fascism<br />
 <a href="http://www.urbandictionary.com/define.php?term=nuclear+fascism" rel="nofollow">http://www.urbandictionary.com/define.php?term=nuclear+fascism</a></p>
]]></content:encoded>
	</item>
	<item>
		<title>By: CaptD</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-121431</link>
		<dc:creator><![CDATA[CaptD]]></dc:creator>
		<pubDate>Sat, 19 May 2012 13:50:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-121431</guid>
		<description><![CDATA[Georgia ratepayers are getting raped by the nuclear industry
already!

Time will show that by the time this nuclear turkey is finished the Energy will be too expensive to afford giving that the cost of Solar (of all flavors) is dropping monthly!]]></description>
		<content:encoded><![CDATA[<p>Georgia ratepayers are getting raped by the nuclear industry<br />
already!</p>
<p>Time will show that by the time this nuclear turkey is finished the Energy will be too expensive to afford giving that the cost of Solar (of all flavors) is dropping monthly!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Ross</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-120962</link>
		<dc:creator><![CDATA[Ross]]></dc:creator>
		<pubDate>Tue, 15 May 2012 06:07:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-120962</guid>
		<description><![CDATA[A previous survey said 26% of Georgia&#039;s electrical power could come from rooftop solar.]]></description>
		<content:encoded><![CDATA[<p>A previous survey said 26% of Georgia&#8217;s electrical power could come from rooftop solar.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Jeff King</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-120952</link>
		<dc:creator><![CDATA[Jeff King]]></dc:creator>
		<pubDate>Tue, 15 May 2012 01:16:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-120952</guid>
		<description><![CDATA[Well thats just direct purchases not even using it as a subsidy to motivate people to invest so it could be even more]]></description>
		<content:encoded><![CDATA[<p>Well thats just direct purchases not even using it as a subsidy to motivate people to invest so it could be even more</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Bob_Wallace</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-120951</link>
		<dc:creator><![CDATA[Bob_Wallace]]></dc:creator>
		<pubDate>Tue, 15 May 2012 00:44:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-120951</guid>
		<description><![CDATA[Yeah, but it&#039;s an announcement full of weasel words.

&quot;Could&quot; save a couple of billion.  &quot;If&quot;....

And, as I pointed out, it&#039;s not clear if they added in the cost of an extra 8 months of financing caused by the announced delay.

Georgia rate payers are likely to take it in the shorts for this move.  It&#039;s going to be interesting to see if some people take themselves off the grid as solar prices drop and batteries improve.

Loosing customers, even loosing peak hour demand could be a big problem for Vogtle.  And, in Georgia, the utility companies seem to be able to pass their pain on to customers. ]]></description>
		<content:encoded><![CDATA[<p>Yeah, but it&#8217;s an announcement full of weasel words.</p>
<p>&#8220;Could&#8221; save a couple of billion.  &#8220;If&#8221;&#8230;.</p>
<p>And, as I pointed out, it&#8217;s not clear if they added in the cost of an extra 8 months of financing caused by the announced delay.</p>
<p>Georgia rate payers are likely to take it in the shorts for this move.  It&#8217;s going to be interesting to see if some people take themselves off the grid as solar prices drop and batteries improve.</p>
<p>Loosing customers, even loosing peak hour demand could be a big problem for Vogtle.  And, in Georgia, the utility companies seem to be able to pass their pain on to customers. </p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Matt</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-120950</link>
		<dc:creator><![CDATA[Matt]]></dc:creator>
		<pubDate>Tue, 15 May 2012 00:32:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-120950</guid>
		<description><![CDATA[Two unit cost $14 billion and provide 2200 megawatts of base load power (GE estimate), plus current $1billion overrun, plus site work and legal fees, plus interest on the cost. But let us use the low number and use the $2M/MW nominal from Ross below. 
 $15000Million / 2 = 7500MW now it isn&#039;t really 3 time since solar/wind don&#039;t run 24 hours a day. But then neither would these plants. And in fact the bigger need is for peak power.

But wait there is more, lets us look at how the power company could get much more for its money. Take 1/2 and say that for anyone in they service area they will match the 1/3 Fed tax credit on roof top solar. Now the amount spent on the solar is not 7.5 billion it is 22.5 billion (11.25 GW) plus the power is distributed so they don&#039;t have transmission loses (say 10% =&gt; 12.5GW), plus less power over local lines so less maintenance cost there. Okay maybe a portion on the best energy eff projects.

Which means they also don&#039;t need to buy another couple coal/nuclear plant.]]></description>
		<content:encoded><![CDATA[<p>Two unit cost $14 billion and provide 2200 megawatts of base load power (GE estimate), plus current $1billion overrun, plus site work and legal fees, plus interest on the cost. But let us use the low number and use the $2M/MW nominal from Ross below.<br />
 $15000Million / 2 = 7500MW now it isn&#8217;t really 3 time since solar/wind don&#8217;t run 24 hours a day. But then neither would these plants. And in fact the bigger need is for peak power.</p>
<p>But wait there is more, lets us look at how the power company could get much more for its money. Take 1/2 and say that for anyone in they service area they will match the 1/3 Fed tax credit on roof top solar. Now the amount spent on the solar is not 7.5 billion it is 22.5 billion (11.25 GW) plus the power is distributed so they don&#8217;t have transmission loses (say 10% =&gt; 12.5GW), plus less power over local lines so less maintenance cost there. Okay maybe a portion on the best energy eff projects.</p>
<p>Which means they also don&#8217;t need to buy another couple coal/nuclear plant.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Bill_Woods</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-120949</link>
		<dc:creator><![CDATA[Bill_Woods]]></dc:creator>
		<pubDate>Tue, 15 May 2012 00:12:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-120949</guid>
		<description><![CDATA[A &lt;i&gt;second&lt;/i&gt; billion!]]></description>
		<content:encoded><![CDATA[<p>A <i>second</i> billion!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Ross</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-120940</link>
		<dc:creator><![CDATA[Ross]]></dc:creator>
		<pubDate>Mon, 14 May 2012 20:34:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-120940</guid>
		<description><![CDATA[Assuming about $2 million per MW that&#039;s 4.5GW nominal.]]></description>
		<content:encoded><![CDATA[<p>Assuming about $2 million per MW that&#8217;s 4.5GW nominal.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Bob_Wallace</title>
		<link>http://cleantechnica.com/2012/05/14/nearly-1-billion-in-vogtle-nuclear-reactor-overruns-so-far-whos-surprised/#comment-120936</link>
		<dc:creator><![CDATA[Bob_Wallace]]></dc:creator>
		<pubDate>Mon, 14 May 2012 19:17:00 +0000</pubDate>
		<guid isPermaLink="false">http://cleantechnica.com/?p=38010#comment-120936</guid>
		<description><![CDATA[A continued stream of bad news out of Vogtle will probably doom new nuclear in the US.

We seem to be unable to learn from things that happen outside our boarders.  We dismiss the rising costs and extending time lines in Finland and France.  This will be data that will hard to dismiss.  

All the promises of &quot;We know how to do it right, now.&quot; are showing to be hollow.

People who don&#039;t care about the risk of nuclear are going to be influenced by the cost of nuclear.  

The downside of that is that it&#039;s likely we&#039;ll build more natural gas generation in order to get the  power we want.  But at least NG is dispatchable and cheaper wind/solar will force it off the grid over time.]]></description>
		<content:encoded><![CDATA[<p>A continued stream of bad news out of Vogtle will probably doom new nuclear in the US.</p>
<p>We seem to be unable to learn from things that happen outside our boarders.  We dismiss the rising costs and extending time lines in Finland and France.  This will be data that will hard to dismiss.  </p>
<p>All the promises of &#8220;We know how to do it right, now.&#8221; are showing to be hollow.</p>
<p>People who don&#8217;t care about the risk of nuclear are going to be influenced by the cost of nuclear.  </p>
<p>The downside of that is that it&#8217;s likely we&#8217;ll build more natural gas generation in order to get the  power we want.  But at least NG is dispatchable and cheaper wind/solar will force it off the grid over time.</p>
]]></content:encoded>
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