From The Pirate’s Cove:
By William Teach October 9, 2012 – 3:36 pm
The Obama administration loans for “green” energy have been such a disaster that we have to wonder if anyone will want to invest for decades. Here’s another example
(Fox News) President Obama touted it in 2010 as evidence “manufacturing jobs are coming back to the United States,” but two years later, a Michigan hybrid battery plant built with $150 million in taxpayer funds is putting workers on furlough before a single battery has been produced.
Workers at the Compact Power manufacturing facilities in Holland, Mich., run by LG Chem, have been placed on rotating furloughs, working only three weeks per month based on lack of demand for lithium-ion cells.
The facility, which was opened in July 2010 with a groundbreaking attended by Obama, has yet to produce a single battery for the Chevrolet Volt, the troubled electric car from General Motors. The plant’s batteries also were intended to be used in Ford’s electric Focus.
The plant is owned by a South Korean company, and, even better, the actual batteries in the Chevy Diego, er, Volt, are made by the same company IN S. Korea.
Emphasis mine. Well, maybe it’s a good thing that the Chevy Dolt uses batteries made in the Republic of Korea:
October 7, 2012 | By Lonely Conservative
The Daily Caller reported that a new study by the Norwegian University of Science and Technology found that “green” electric cars are worse for the environment than traditional automobiles that run on gasoline or diesel. I don’t even think they took into account what happens when electric cars catch on fire.
Specifically, the study found that electric car factories can emit more toxic waste than gas-burning car factories. And greenhouse gas emissions rise exponentially if coal is used to produce the electricity necessary to charge “green” vehicles, according to the study.
The researchers compared the overall life-cycle impact of petrol or diesel-powered cars and electric vehicles and concluded that the latter can significantly damage the climate.
“The global warming potential from electric vehicle production is about twice that of conventional vehicles,” the report said. “It is counterproductive to promote electric vehicles in regions where electricity is primarily produced from lignite, coal or even heavy oil combustion.” (Read More)
This must comes as news to President Obama who has invested billions of taxpayer dollars into green cars, including Chevy Volts which GM manufactures at a loss.
This is what happens when business “investment” is driven by ideology rather than business considerations, economics, and just plain common sense. If the Chevy Volt was a car that people actually wanted to buy, people would be out there buying them. Sales of the Dolt have been increasing recently, but are still so low that General Motors will be closing down the production line until the supply of Volts more closely matches sales.