Remember the Solyndra debacle? In March of 2009, then Energy Secretary Steven Chu, the man who wanted to raise American’s gasoline prices to European levels--$10.00+--announced a $535 million loan to Solyndra, a maker of solar cells. By August, 2011, Solyndra was bankrupt, but this was not just another tale of a green company’s utopian goals in direct conflict with sound business sense. After an FBI raid of the company, this:

Either way, the IG report indicates that ‘the investigative record suggests that the actions of certain Solyndra officials were, at best, reckless and irresponsible or, at worst, an orchestrated effort to knowingly and intentionally deceive and mislead the Department.’ The IG admits that there were signs the government might have missed some obvious red flags, while critics have argued those red flags were more likely overlooked intentionally.

Taxpayers were stiffed for more than a half billion. This was far from the only green debacle of the Obama years. Joe Biden, who doesn’t remember he was vice president or when, did learn and remember one thing: how to profit from green corruption.

Electric vehicle mandates and wasted taxpayer handouts have been standard operating procedure for the Biden Administration, among them, to Fisker, an electric vehicle (EV) manufacturer.  Fisker’s products tended to run in the $100,000 dollar range. Past tense because Fisker went bankrupt in July, taking some $529 million in taxpayer cash with them. 

Graphic: X screenshot

One would think sane government functionaries would see the EV writing on the wall: Americans can’t afford, don’t want, and won’t buy EVs. They’ve always been a niche product, toys for the well off. Clearly, one of the things Biden learned, and remembered, is it pays to give more than a half billion to green companies.

Fisker Oceans, the only SUV model Fisker has recently made, are now going for pennies on the dollar, but who is going to buy an EV that no longer has any factory/dealer backing? As far back as 2009, the Biden Crime Family was working its pay for play magic:

Vice President Joe Biden, told local politicians, union members, and Fisker executives in Wilmington, Delaware in 2009 that Fisker would be bringing green jobs for everyone.

Joe Biden cited ‘a real commitment by this Administration’ and ‘loans from the Department of Energy’ that would help ‘America’s auto industry reclaim its top position in the global market. Of the total loan, $359 million is going to revive manufacturing at the Boxwood Plant.’

The then vice president made no mention of Hunter’s business interests, Fisker’s backing by Al Gore’s venture capital fund or that the $170 million remainder of the loan would be going to build Fisker’s ‘Karma’ cars in Finland.

The Delaware connection was apparently only for funneling cash to Hunter and his cronies. The few Karmas built were assembled in Finland. So much for thousands of green Delaware jobs.

As always, Hunter worked as a fixer and bagman. He massaged Delaware’s governor, the head of Delaware office of economic development, and of course coordinated with Fisker, selling “a green energy project” straight out of the Vice President’s office:

After Fisker’s loan had been secured, Wayne Kimmel, Hunter’s childhood friend and a venture capitalist, who along with Hunter had cosponsored an inaugural breakfast to celebrate his dad’s new job, emailed Hunter to ask for an introduction to Chris Heinz, John Kerry’s stepson and a co-founder of Hunter’s Rosemont Seneca firm, to discuss Fisker.

‘It’s our fund that’s in the deal,’ Hunter replied.

And what made the deal work was $529 million in taxpayer money. The Delaware launch, attended by Joe Biden, was ultimately going to benefit Hunter Biden’s company.

Graphic: Fisker Karma Driving. Wikimedia Commons.org, CCA-SA 3.0

There was also $525 million from private investors. At the time, Hunter, whose appetite for expensive cars—the 2012 Karma cost around $100,000 dollars--was by then as insatiable as his drug appetite, was driving a Karma. Hunter’s experience was much like every Karma owner’s: his vehicle failed, and e-mail exchanges between Chinese backers—surprise!—and Hunter spoke of their promise to try to figure out how to fix it. By 2012, the Karma’s battery maker, A123 Systems, went bankrupt, and the bug-plagued Karma went out of production.  Only 2,450 were made. 

As is virtually always the case, private creditors will benefit from whatever is left of Fisker’s assets, while taxpayers will take a bath. As Americans are learning, a substantial amount of what Joe Biden did in government “service” was filling his family’s coffers with cash from any and every possible source. It seems Fisker was only one such source. I wonder what the “Big Guy’s” 10% cut yielded?

Mike McDaniel is a USAF veteran, classically trained musician, Japanese and European fencer, life-long athlete, firearm instructor, retired police officer and high school and college English teacher. He is a published author and blogger. His home blog is Stately McDaniel Manor.