Another ‘Green’ Scandal Alert
Katy Grimes: ECOtality, a San Francisco green-tech company which had been on the verge of bankruptcy, “received roughly $115 million in two separate Energy Department grants to build 14,000 electric vehicle charging stations in 18 cities,” the Heritage Foundation reported today.
“In its push to get electric vehicles on the road, the Obama administration has partnered with a company in dire financial straits that is also under investigation by the Securities and Exchange Commission for insider trading,” the Heritage Foundation wrote.
I have never seen a car parked and using a charging station. Apparently no one else has either, and ECOtality has the numbers to show for it. But I really laugh when I see charging stations on college campuses. What college student can afford an expensive Chevy Volt?
Despite receiving the $115 million from the federal government, ECOtality reported a net loss of more than $12 million in just the first six months of 2011.
Where is the money going? If you build it, they don’t come.
It’s not going to operating expenses because the ECOtality website newsletter is gone.
Read the Heritage story, and stay tuned.
MAR. 23, 2012
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