Fox New’s Malleable Universe: Tesla Edition

May 23, 2013

It’s where deniers live. Cafeteria style reality. Watch the progression as they go from bashing, to sucking up, to Tesla Motors.

Business Insider:

DETROIT (Reuters) – Electric carmaker Tesla Motors Inc. on Wednesday paid off its U.S. Department of Energy loan nine years earlier than required, using money raised last week in a stock and debt offering.

The automaker said on Wednesday that it wired $451.8 million to repay the full loan with interest.

“I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the (Advanced Technology Vehicle Manufacturing) program, and particularly the American taxpayer from whom these funds originate,” Tesla Chief Executive Elon Musk said in a statement. “I hope we did you proud.”

Republicans have criticized the Obama administration‘s support of new-technology companies, including struggling automaker Fisker Automotive Inc, as well as electric battery maker A123 Systems and solar panel maker Solyndra. Both A123 and Solyndra filed for bankruptcy.

DOE officials heralded the Tesla payoff in a press release.

“When you’re talking about cutting-edge clean energy technologies, not every investment will succeed – but today’s repayment is the latest indication that the Energy Department’s portfolio of more than 30 loans is delivering big results for the American economy while costing far less than anticipated,” U.S. Energy Secretary Ernest Monizsaid.

Moniz said more than 90 percent of the loan loss reserve Congress established remains intact, while losses represent about 2 percent of the overall $34 billion portfolio.

12 Responses to “Fox New’s Malleable Universe: Tesla Edition”

  1. Nick Carter Says:

    Interesting. Peter, you might recall that this “change of heart” started with the Volt, actually. Although I can’t prove it, the network changed it’s tune after Heartland’s Summer Meltdown in Chicago. If you recall, the General Motors Foundation was the first organization to pull out of the Institute. Who was Involved with the GM foundation? I believe it was former GM VP,Bob Lutz, who although is a rabid denier, did have a lot of $$ and pride invested in the Volt. Could there have been a connection? Who knows, but I know I saw…perhaps here, the same fawning over the former “Exploding Obamamobile”. Strange bedfellow, some of these folks, no?

  2. Thanks Peter, for all you’re doing. Would you mind sharing this information?

    In 1986, I walked across the country on the Great Peace March (for Global Nuclear Disarmament). I knew about global warming back then, but nuclear warfare was the eminent threat. Reagan was in office and his Star Wars and cruise missiles were gearing up for automatic, one-line-of-code, annihilation. Now we have this more insipid , and harder to retract, threat to civilization.

    It may be time to get those old marching boots out again!

    • greenman3610 Says:

      first I’ve heard about the climate march, but I know this is going to be an active summer. will do a post on the various initiatives soon.

  3. mrsircharles Says:

    It’s seemingly much more important for the US right-wing (you can’t really call them “conservative”) to burn money in banks than investing in a more sustainable future where the money is even paid back by the companies.

  4. Wes Says:

    This one really made me laugh! Thanks for letting us watch them hoist on their own petard. “..didn’t get a govm’t loan…oh, they did?” Quote of the week for sure.

  5. There is an amusing argument going on right now on who repaid their loan first, Chrysler or Tesla. Audi just responded to reports that more Tesla model S were sold than Audi A8s, in the last quarter. Tesla is making a lot of people eat crow right now. And just a little while ago, a certain journalistic got caught taking liberties with range. Seems like a long time ago when Faux News was highly critical of all EVs, Volt, Tesla, whatever, but it was breathtakingly short. Nice to see Faux eat Crow.

  6. prokaryotes Says:

    FOX = Douchebaggery at it’s finest 🙂

  7. joffan7 Says:

    The mentality here, I think, is that they have two different messages and they don’t believe (or they wish to conceal) that they can possibly conflict. One is “government wastes money” and the other is “free enterprise is great”.

  8. […] Here’s the video (follow the link to Peter Sinclair’s article): […]

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