John Podesta has awarded $2 billion to a former head of Tesla to compete with Elon Musk.
Last September, it was reported Podesta was taking over the head of a new government venture after being selected as the President for Clean Energy Innovation and Implementation.
Podesta was assigned to oversee the implementation of $370 billion worth of climate change provisions in the Inflation Reduction Act.
The former White House advisor is currently chair of the board of directors for the Center for American Progress, which he founded in 2003.
Now, Redwood Materials, a U.S.-based battery materials company founded by Tesla co-founder J.B. Straubel, has received conditional approval for a $2 billion loan from the U.S. Department of Energy (DOE) for domestic battery cell production, The Gateway Pundit reported.
Bloomberg reports the DOE’s Advanced Technology Vehicle Manufacturing program, which helped Tesla develop its signature Model Y, is funding the loan.
The program’s lending limit soared to $55 billion by President Joe Biden’s signature Inflation Reduction Act (IRA), almost four times its previous level.
Podesta’s project is already expected to cost billions more.
But the slew of new investments nearly quadrupled the projected cost of the tax credits, from the Congressional Budget Office’s initial estimate that the program would cost roughly $30.6 billion over the next ten years.
Private analysts say the program will cost roughly $136 billion over the next ten years, and the cost might increase if new projects are announced,
Podesta and his deep-state cronies don’t like Elon Musk; that’s pretty obvious.
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Spirit cooking John?
Didja’ KNOW that Podesta’s BROTHERS’ phone was “pinging” in Portugal the night of McCann’s disappearance????
LOOK IT UP!!!
Who gave that kiddy fiddler 2 billion to hand that sort of money needs the approval of congress
Fleecing the US Taxpayers
Their poster child Musk spoke out against them.
meanwhile at the circus, Biden bans rare earth mining in Minnesota, so this project is bound to fail, and the $ will go where Obama’s solar energy money went
We could use this money to reduce the National Debt. The Tree Huggers will waste it.