Don’t look now but it appears that another half billion dollar loan guarantee/investment made by none other than you and me, the John Q U.S. taxpayer, has gone bust. Fisker re-called every single one of its Fisker Karma vehicles due to fire hazards. When the CEO of a company like this resigns you have to be skeptical of what the future holds for the business. When the second CEO in one year resigns you have to be down right paranoid of fraud. It certainly is sad to see what’s happened to Solyndra, the Karma, and Tesla and it is a low blow to the environmentalist community which I personally support.
The thing is, electric vehicles really are not all that complicated — stick a battery in a flashlight, turn the thing on, and it should work… bing. The genius kids out there need to get the best battery technology in the market placed into today’s vehicles and clearly the technology isn’t quite there yet despite the investment (or it’s just green-washing, and the technology is already there but big oil shelved it!). What people are forgetting is that 26 year old hippies are already driving around in 1985 Mercedes 300D diesel cars that run on vegetable oil. The government overlooked companies like Rex stores which went from TV sales to ethanol. Rex stores was a book value investment trading at around 30 percent of tangible net equity when they rolled over into the ethanol game and rewarded their shareholders.
Of course, big oil wants these companies to fail and they’re getting what they want. Big oil always gets what they want and they don’t want us all to make it to work in a seaweed or trash powered car. The only obstacle in the way is the fact that it’s not that tough, like I said, for a hippie with dreadlocks to roll around Northern California in a diesel Mercedes that he basically drives for free. I’ve witnessed it myself after the local burger joint is done cleaning up the grill and all that bacon grease and melted fat were emptied into this probably homeless dudes Mercedes. He spun off into the night driving on free gas which is 100 percent environmentally friendly. If some stoned stoner from New Jersey (PROPS) can drive around for free without using any of big oil’s gooey fossilized black stuff, refined and marketed by Chevron (which I like better than the rivals btw!!!), then surely these idiots could have found better uses for the 500 million dollars that they spent. Of course, it’s probably a total friggin scam, but unless you’re a forensic accountant working for the SEC you can’t do anything about it. What we have to do is elect somebody that cares about the Securities Exchange Commission and that means not electing people that rubber stamp Wall Street revolving door types into that post. Some day some kid will fund the first workable salad oil powered vehicle on kick starter. He’ll build a model for like 20 K and within 6 months everybody will have one like the Prius in Palo Alto. All you will have to do is retrofit your current car with whatever else this kid figured out how to finagle. That’s how innovation works — it’s one kid and his best buddy in the garage somewhere – his own mom thinks he’s crazy but he still comes up with the Apple Computer (Jobs credited his success to things like acid trips after all) it’s not $600,000,000,000 dollars given to some corporate shill who says he has a good idea or some guy that went to Harvard or an MBA who thinks he’s smart. Wearing a nice tie is simply not the deciding factor here, like it is on the street. The reason that professional types like lawyers can’t come up with the next garbanzo bean powered vehicle is that they spend their whole lives trying to become successful in the corporate world and it take somebody who detests the corporate world culture of greed passionately and is crazy enough to believe in himself to come up with a groundbreaking invention that takes out Exxon Mobile against all odds. True groundbreaking innovation usually won’t emerge from inside the cubicles of Monsanto. Bottom line: where did the money go? Offshore bank accounts; that’s where… you got jacked (again) America.