Obama & Reid's Great $Trillion Green Adventure

A Whale of a Tall Tale:  Senator Harry Reid touted the Nevada Crescent Dunes Solar-Thermal Nevada Senator Harry Reidproject's technology and scope. "I don't think people realize how big this project is," he said. - No Harry, people don't know how big this project is or they would have cancelled it and fired you on the spot!

A Tale of Two Solar Companies:  What do Federal Taxpayer Guaranteed Loans for a $737 Million SolarReserve package have to do with a $535 Million Solyndra package? The answer? ...Absolutely nothing since one loan lost taxpayers $535 Million and the other may lose taxpayers $Trillions, read on...FOR THE REAL PROBLEMS!

 

On September 29, 2011 SolarReserve closed financing on a $737 million Federal  guaranteed loan from Obama's DOE on its 110 megawatt (MW) Crescent Dunes solar-thermal project. When complete, it is expected to be the U.S.’ first commercial scale solar power tower that will use the sun's heat to create steam to drive a turbine generator with fully integratedArtist Rendition of Tonopah, NV Solar Turbine Tower energy storage, the largest of its kind in the world able to power 32,000 homes during peak electricity hours. It will employ 45 permanent workers costing $16 million per job. - OBVIOUS A REAL PROBLEM? - NEGATIVE JOBS RETURN?

According to numbers obtained by the Las Vegas Review-Journal in 2010, NV Energy has agreed to pay 13.5 cents per kilowatt hour for electricity generated by the Tonopah plant. That number is more than triple the 4 cents per kilowatt hour that the utility company has paid for wholesale power, which largely comes from natural-gas generation, in recent years. Currently in 2011, retail end-customers pay 10.56 cents per kilowatt hour for electricity - MUCH HIGHER CONSUMER COST, WHO IS DOING THE MATH? - A REAL PROBLEM!

Located near Tonopah, Nevada, on federal land operated by the Bureau of Land Management, construction on the solar thermal project started earlier this month. It is scheduled to be operational by late 2013 and is expected to generate $40 million in tax revenues in its first decade of operation. (Do the math: $40Mil/10yrs = $4Mil/yr/32,000homes = $125/yr = $10.50/mo/.25/kWh = 42hrs per mo. used) - The math does not add up for Obama Solar Power Usage or Kilowatt price per hour. - FUZZY MATH AGAIN FROM THE OBAMA WHITE HOUSE?

SolarReserve subsidiary, Tonopah Solar Energy, LLC will construct, own, and operate it. - NOW, IS THERE IS A REAL PROBLEM? - WHO IS THIS TONOPAH SOLAR ENERGY, LLC?

Glassdoor Jobs Recruiters Website: 

SolarReserve Overview  (310) 315-2200.

SolarReserve, LLC generates electricity from solar energy, coal, and natural gas. The company was incorporated in 2007 and is based in Santa Monica, California.

HQ:   2425 Olympic Blvd., Suite 500 East Santa Monica, CA 90404

Website: www.solarreserve.com

Size: 16 to 50 EmployeesSenators Reid & Nancy Pelosi

Industry: Alternative Energy Sources

SolarReserve's investors include Pacific Corporate Group, PCG, a private-equity firm headquartered in La Jolla (San Diego County). Ronald Pelosi, the brother-in-law of Nancy Pelosi, the House Democratic leader, and a former president of San Francisco's Board of Supervisors, is an executive with the firm.  BLATANT CRONYISM! - OH REALLY, NOT A BIG PROBLEM?

Cobra Thermosolar Plants Inc. will act as the general contractor for the project. The company is an affiliate of ACS Cobra, which is acting as an investor, alongside SolarReserve and Santander funding Tonopah Solar Energy, LLC. - NOW, THERE IS A PROBLEM? - WHO ARE THEY? - READ ON...

ACS Cobra - In the opinion of Jose Alfonso Nebrera, Director General of ACS Cobra, Madrid, Spain, "This project could create a market for renewable energy plants to be built wherever there are lots of natural resources, then the feed-in tariff (Green Energy Certificates - AKA Cap & Trade Shares) and difference in cost would be taken by the countries that don’t have the natural resources to achieve their goals, possibly through some sort of Green Electricity Certificates European market.”  Hello, Cap and Trade without passing a Congressional Bill!  Hello, the European Union getting into the United States Economy to bail it out more with financing more Green Power Plants globally too! - NOW, IS THERE A REAL PROBLEM HERE? - THE USA FUNDS EURO & STRUGGLING COUNTRIES' ECONOMIES!

Banco SantaBanco Santander Group Madrid, Spainnder Group - from Spain, is the ninth largest bank in the world serving 60 Million customers in 40 countries according to their 2008 site.  Sovereign Bank in 2006, acquired failed FleetBoston Financial Bank which Business Week said had the allure of a toxic waste to become the largest banking branch acquisition in history.  Sovereign's transaction accounts and all other deposit accounts are FDIC-insured for up to at least $250,000 per depositor. In 2009, Santander acquired Sovereign Bank.  This means the customer bank funds are protected from losses, even if invested in loans with Green Power Energy Plants too? Hmmn...That means their Bank's monies loaned to Tonopah Solar Energy, LLC are covered. - NOW, IS THERE IS A REAL PROBLEM?  THE US TAXPAYERS ARE ON THE HOOK AGAIN!

Harry Reid - The Yucca Mountain Debacle comes to mind about the nuclear power industry’sYucca Mountain, NV Nuclear Dump Site decades-long effort to bury the world’s deadliest garbage. Yucca's huge dollar price tag is $58 Billion, but so is the added cost of transportation risks of hauling high-level radioactive waste, and documentation of the corrupt influence the nuclear power industry has exerted on the decision-making process from the very beginning. Yucca Mtn. is an active earthquake zone that leaks water like a sieve. Burying high-level radioactive waste there would guarantee contamination of the underlying drinking water supply. Besides its geologic unsuitability, Yucca belongs to the Western Shoshone Indian Nation according to the 1863 Treaty of Ruby Valley. - NOW HERE IS A REAL PROBLEM!  

IS TONOPAH SOLAR ENERGY ANOTHER YUCCA MOUNTAIN SCANDAL WITH GREEN POWER?