To envision the size of the pot of gold that Democrats envision for themselves at the other end of the Green New Deal rainbow we only have to look back to the Obama administration, the $3 Trillion in “stimulus” money, the Green Movement, and how it seemingly enriched Democrats, their donors, and Nancy Pelosi in particular.
For background we cite a September 2011 article from the Daily Mail:
Even as government financed “green energy” pioneer Solyndra was failing, the Obama administration approved an additional $1 Billion in loans to similar green energy projects.
A whopping $737 million of that money went to the Crescent Dunes project situated in Tonopah, Nevada, to finance a 110-megawatt desert solar power plant.
Stay with me.
Nancy Pelosi’s brother-in-law was previously an “Executive Director”, and at the time the loan was completed, Ron Pelosi was an “Independent Director” of a parent company who held a minority share of the company that was a primary beneficiary of that money landing a $737 million loan guarantee from the Department of Energy for Crescent Dunes.
Funny that as Democrats scream that Saudi’s renting out an entire floor of a Trump hotel is an untenable emolument. But I digress.
Despite knowledge that Solyndra was tanking then-Minority Leader Pelosi’s brother-in-law, second in command at the energy investment firm backing the project, somehow secured government funding for the SolarReserve project.
PCG Clean Energy & Technology Fund (East) LLC, listed as one of the investors in the project was given the staggering loan, which even dwarfs that given to failed company Solyndra. PCG Clean Energy & Technology Fund was reportedly a 2% owner of Tonopah.
The project was expected to generate enough electricity to power 43,000 homes. That’s it.
Obama’s Energy Secretary Steven Chu announced the loan just two days after the doomed $535 million Solyndra disaster was scheduled for completion.