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Aug 10 2023

Another Green Boondoggle Goes Belly Up

Didn’t they learn anything from Solyndra and the other extravagantly expensive green energy boondoggles that went belly up during the Obama Administration? Sure they did. They learned that they can get away with flushing money down the toilet. So they keep doing it:

Biden frequently extolled an electric vehicle company — in which his energy secretary heavily invested — before it declared bankruptcy on Monday.

Bay Area-based electric bus and battery maker Proterra filed for Chapter 11, with CEO Gareth Joyce citing “various market and macroeconomic headwinds that have impacted our ability to efficiently scale.”

One headwind is that electric buses are prone to bursting into flames.

The EV firm, which sold more than 1,300 electric buses to public transit systems in the US and Canada, was valued at $1.6 billion when Biden, 80, took office in January 2021 — but closed with a market value of $362 million, according to Reuters.

Where does all the wealth disappear to? Democrat donors are most likely to know.


In 2021, the president pledged more than $10 billion from his $1.9 trillion bipartisan infrastructure plan toward zero-emission transit and school bus programs.

But no amount of other people’s money can make electric vehicles make sense. In the end, the market decides what is fit to exist, not liberal ideology.

On tips from Varla, Jack D, Occam’s Stubble, Wiggins, and Franco.


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