Putrid Green: Harry Reid may have his own Solyndra, “Nevada Geothermal Power” to loot

 By Kevin “Coach” Collins

 First, consider a few facts of life in Nevada.

 Harry Reid is the Boss Tweed of Nevada. He runs the state like a fiefdom where nothing of value goes untouched and “untaxed” by Boss Reid.

 A “green” energy company opening in Nevada could not have escaped his grasp even if it was founded by people not directly connected to him; but such is not the case with “Nevada Geothermal Power”

 In June 2010, Reid used his influence to arrange a Department of Energy “loan” of $98.5 million to Blue Mountain which is a subsidiary of Nevada Geothermal Power Company’s (NGP). Aside from this NGP, the parent company soaked up another $145 million in federally guaranteed loans.

 Nevertheless, Deloitte & Touche (D&T) the nationally known and respected accounting firm released a report on the fiscal health of NGP that had a familiar ring to it. The report said there is “significant doubt” that NGP has the “ability to continue as a going concern.”  To support its conclusion, D&T  added, “… [NGP] has incurred net losses over the past several years, has an accumulated deficit of $44.0 million and an anticipated inability to retire its long-term liabilities.”

 Boss Reid’s connection to NGP

 In June of 2010, just in time for him to ingratiate himself to the backers of this phony company Boss Reid arranged to hand NGP the $98.5 million taxpayer backed loan from John Hancock Financial Services. Reid was supported in this money laundering scheme by Secretary of Energy Steven Chu who commented, “The United States leads the world in geothermal electricity production with just over 3,000 megawatts of installed capacity. Our support of the Blue Mountain project demonstrates our continued commitment to realize the potential in geothermal so that we can achieve our nation’s clean energy goals.”

 Say anything to get the money

Babbling crooked Democrat lies like Boss Reid said, “Northern Nevada is the Saudi Arabia of geothermal energy….. I thank Secretary Chu for recognizing the Silver State’s enormous job-creating potential to produce plenty of clean and affordable energy.”

Creating jobs in Nevada the state with the highest unemployment in the county? The company: Nevada Geothermal Power is a British Columbia firm situated outside of America’s “Blue Sky” laws which demand companies back up their claims of solvency.  

 It is a good guess that sometime soon we will hear more about this “Silver State Solyndra” with Boss Harry Reid’s fingerprints all over it.

 Use this site to contact your Congressional Representative:

https://writerep.house.gov/writerep/welcome.shtml

  To read more about this issue use these links:

 http://blog.heritage.org/2011/10/03/is-harry-reid-backed-nevada-geothermal-the-next-solyndra/

http://reid.senate.gov/newsroom/pr_100615_nvgeothermal.cfm 

 http://www.nytimes.com/2011/10/03/business/a-us-backed-geothermal-plant-in-nevada-struggles.html?pagewanted=2&_r=1 

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