From the Washington Times:
The Energy Department conceded Friday that the federal government will lose $42 million on a loan to a shuttered Michigan van manufacturer — part of the same program that provided a $529 million loan to an electric car maker that also has gone under.
Vehicle Production Group (VPG), which made vans for the disabled, ceased operations in February and laid off 100 workers, two years after receiving a $50 million federal loan under the same clean-energy program that provided a $529 million loan to electric car maker Fisker Automotive Inc., according to the Associated Press.
Meanwhile, Antonio Tajani, the European industry commissioner, is warning of “a systemic industrial massacre” because of their zealous embrace of “green” energy. From the Telegraph UK:
“I am in favour of a green agenda, but we can’t be religious about this. We need a new energy policy. We have to stop pretending, because we can’t sacrifice Europe’s industry for climate goals that are not realistic, and are not being enforced worldwide,” he told The Daily Telegraph during the Ambrosetti forum of global policy-makers at Lake Como.
“The loss of competitiveness is frightening,” said Paulo Savona, head of Italy’s Fondo Interbancario. “When people choose whether to invest in Europe or the US, what they think about most is the cost of energy.”
A report by the American Chemistry Council said shale gas has given the US a “profound and sustained competitive advantage” in chemicals, plastics, and related industries. Consultants IHS also expect US chemical output to double by 2020, while Europe’s output will have fallen by a third. IHS said $250bn (£160bn) in extra US manufacturing will be added by shale in the next six years.
European president Herman Van Rompuy echoed the growing sense of alarm, calling it a top EU priority to slash energy costs. “Compared to US competitors, European industry pays today twice as much for electricity, and four times as much for gas. Our companies don’t get the rewards for being more efficient,” he said.
Don’t worry, Mr. Tajani. Barack is working on destroying any competitive advantage that evil, racist Amerika has. If he had his way, we would be paying ten times as much for electricity, and certainly $10/gallon for gas. He has used the hideous and destructive Environmental Protection Agency to try to push this ridiculous “green” agenda. We didn’t impeach Richard Nixon, but the House was about to do it when he resigned. That was Watergate, which was really all about Viet Nam. If we were going to impeach him over something real, we should have done it over his creation of the EPA.
Is the “industrial massacre” coming to a country near you, as in the United States? Is this situation in Europe a preview of coming attractions? Stay tuned.