Canada posts trade surplus on surge in energy exports while another White House backed green energy company goes bankrupt

Imagine if our government actually let us develop our own natural resources. Via Bloomberg:

Canada recorded its first merchandise trade surplus in eight months in September, led by energy exports and a drop in machinery imports.

The country ran a surplus of C$1.25 billion ($1.23 billion) in September, Statistics Canada said today in Ottawa.

While Canada was busily exporting oil and growing their economy, here in the United States our government has been busily growing a list of failed ‘green energy’ companies such as Solyndra and Beacon Power.

Now we can add the recently NASDQ de-listed Ener1 to the growing list:

New York-based Ener1 received a $118.5 million grant to expand its manufacturing operations in Indianapolis, Ind., run by a subsidiary EnerDel, which received a visit from Vice President Joe Biden earlier this year.

But NASDAQ pulled the firm from trading Friday for failing to file its most recent quarterly report on time. Ener1 also let go of its chairman, Charles Gassenheimer, late last month.

Now DOE says it’s watching the company.

“The department is closely monitoring the status of the company,” DOE spokesman Damien LaVera said in an email Monday.

“So far $55 million of the grant has been paid out to EnerDel,” he added. “Any additional funds received from the government would need to be matched dollar for dollar with their own investment.”

Looking at this picture, do you think Biden has any clue about what the people at Ener1 are telling him.

Comments
  • 5etester November 10, 2011 at 11:00 pm

    I believe the caption was this – “Joe, we’ll never be able to market this stuff, but it sure looks great. Can we just get a few billion more?”.

    • steve November 11, 2011 at 6:17 am

      Biden replied “Sounds like a great plan. I’ll get you another billion and don’t worry about turning a profit, it’s not like it’s my money. By the way, did you get an invitation to my $5,000 a plate fundraiser next month? You should bring your friends over there, they look hungry.”

  • Matt November 11, 2011 at 3:18 pm

    You just can’t fix that level of stupid.

    • steve November 11, 2011 at 5:50 pm

      Biden… No hope at all.

  • Jim at Conservatives on Fire November 11, 2011 at 6:34 pm

    And Obama decided to put off making a decision on the Keystone Pipeline Project. we really don’t need the jobs and the investment apparently.

    • steve November 11, 2011 at 6:42 pm

      And we don’t need the stabilizing effect on oil prices either.

      Obama is so clueless.

  • Tom November 19, 2011 at 5:28 pm

    The vacant Ford Plant in Wixom is just another example of the failure of this policy and green technology as a viable alternative. The Wixom deal now seems doomed to failure. The Federal loan guarantees are in jeopardy and no one is willing to risk their own money. I wonder why?

    • steve November 19, 2011 at 6:18 pm

      Great point about private money being invested in ‘green energy.’ If a technology was viable or had a significant upside, money would be flowing in.

      Thanks for the great comment and please stop by again.