Their audacity does not end there, on May 19th these gangrene green folks paraded their contraption on Capitol Hill and had Senator Hatch drive the thing around the Capitol.
100 mpg my elbow!! The piece of junk at best gets 33mpg and cost $40,000 more than a standard bummer. Together with Tad Patzek the Chairman of the Department of Petroleum Engineering at University Texas I helped alternativeenergy dot com www.alternativeenergy.com bust these green imposters. David Kates writing for alternative energy dot com broke the story that the 100 mpg was a slight of hand. You must read his article by going to http://alternativeenergy.com/profiles/blogs/a-100-mpg-hummer-really
Doug Schiller of alternative energy dot com also was interviewed on MSNBC who broke the news that the 100 mpg was a myth. Go to http://www.msnbc.msn.com/id/30845961/ for the MSNBC article on 100 mpg more or less
Why is Raser hyping thing this. Well Raser Technologies (RZ NYSE) is a small cap stock and they are for all intents and purposes insolvent. They reported their first quarter earning recently and their balance sheet makes Chrysler look triple A. Their working capital is negative to the tune of $60 million and their net equity is negative by over $20 million. The 100 mpg Hummer is being used as a last ditch effort to inflate their stock. I had blogged in March 2008 that Raser was a hype stock when they were trading at $13.82 http://www.greenenergyexplained.com/2008/01/geothermal-stocks.html
Raser is now trading around $4.00 even with the hype of the 100 mpg Hummer. I was correct in renaming Raser to Eraser as they are a wipe out. Remember my motto that is a misquote of Warren Buffet "be green when all are fearful and be fearful when all are green". No doubt you must be very fearful when folks are gangrene.