You Need Another Example!

Andrew Restuccia of The Hill is reporting that Ener1, a battery company that President Obama referenced in his State of The Union Speech on Tuesday as an example of successful energy investments, has just filed for chapter 11 bankruptcy.

That’s just two days after the speech.

“In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries,” Obama said in his speech.

According to Phil Milford and Dawn McCarty at Businessweek, Ener1 had received a $118 million U.S. Energy Department grant to make electric-car batteries.

http://poorrichards-blog.blogspot.com/2012/01/president-obama-mentions-energy-company.html

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