On January 24, 2012, Obama said he would not allow American “green energy” companies to go to China or Germany. It seems Obama makes a lot of promises but doesn’t keep them. This past week the government approved the sale of Boston-based A123 Systems, they make special batteries, to China’s Wanxiang Group.
What is particularly galling is that under Obama’s stimulus the company received $133 million stimulus dollars out of a total grant of $249 million. The Obama Administration, despite what he said, allowed taxpayer’s money to go to a company that now will be Chinese owned.
Why did this happen? A123 filed for bankruptcy despite the stimulus money. This is another example of a poor investment by the Obama Administration. The “green energy” decisions of this administration have wasted billions and put this nation deeper into debt without any benefit to the American people. Obama has done a superb job of financing our major global competitor China by allowing the Chinese to buy up American companies.
The only thing I can say is anybody who believes what he says is gullible and naive.