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.
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Another achievement for Osama's green campaign. Another miracle of good timing.
Okay, BO, just how are we going to keep a million electric cars charged when your EPA is busy shutting down coal-fired power plants that supply 75% of our electricity?
With people like you running the country, by 2015 we will be all riding bicycles, like your buddies over in Red China used to, until they discovered fascist capitalism. That is, if we have anywhere left to go to.
H/t Lady Logician, from whom I shamelessly stole the title.
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