Saturday, August 31, 2013

KIOR Draws Last $10 Million From Khosla

KIOR reported to the SEC that it drew $10 million as a loan from Khosla on August 27, 2013.

This is the last of the available funds under the $50 million loan facility and future funding of the company will have to come from another loan or an issuance of equity.  The real question is can a new infusion of funds be accomplished????

This last draw is the fifth monthly draw of $10 million that has occurred each month since May.  $10 million is approximately the monthly cash loss Kior the gangrene company “enjoys”.

Now the proverbial rabbit has to be plucked out of the hat by Condi Rice and Vinod Khosla to raise more funds to keep their charade of replacing oil imports alive and to get their alchemic process of turning pine into diesel into a business reality.  The once free Obama/Chu money for junk science is no longer available and Condi will need to look to real investors to save the company.  Remember Condi is paid handsomely to be Vinod’s “strategic” adviser.  I have to wonder what strategic advice she really gives his “ventures”.

If Condi pulls off the funding she will be more famous than Lee Iacocca was for saving Chrysler.  If she fails she will be facing dozens of law suits without the help of corporate funds.  She had immunity of office for her role in the fake out leading to the war on Iraq, but as a director of a public company there is no immunity and amnesia and incompetence is not a defense.

Condi claimed on an ABC interview with George Stephanoupolis that Donald Rumsfeld once accused her of being “bright”. 

Well when it comes to thermodynamics Ms. Rice is plain stupid.  Yes Condi,  Kior has shown the reality of her dimmed brightness.  I find it rather sad that such a “bright” lady got involved with Kior for a mere quarter of a million of now almost worthless shares.

I hope that CNBC or Bloomberg can get an interview with Condi and find out what role, other than making false statements about the thermodynamic reality of Kior, she had at Kior and at Khosla Ventures.   She thought beating Iraq was going to be a slam dunk.  She told us Kior was a reality.  Next she will tell us we need no fossil fuel to get to where we are going. 

Kior’s stock traded at $2.21 on Friday, just less than half of its price a few weeks ago when the “analysts” were expecting between 300,000 and 500,000 gallons of alchemic oil from Kior in the second quarter.  Watching what Kior does is going to be fun and the action has to be this month before they run out of cash and layoff over 100 people who have those high paying “manufacturing jobs” Obama and Barbour promised.

As for Vinod Khosla he is a three strike out guy.  He brought us Cello, Range and now Kior.  Vinod may have made some bucks on Sun Microsystems but he is clueless when it comes to thermodynmics.   Sun claimed to put the dot in dot com, Vinod put the lose in cellulose.

Thursday, August 29, 2013

Wesoff Busts Bloom Energy

Eric Wesoff the well-known editor of Green Tech Media the leading global site for green news busted Bloom Energy today.  I suggest you read his article in the link below:

A simple analysis from Eric’s data reveals the following for the Delaware Rip Off Bloom and the thermodynamic neophyte of a governor and his green tsar allowed in the First State.  Eric states that 2012 CO2 emissions per megawatt hour in Delaware were approximately 1,100 pounds.  Bloom “guaranteed” their gangrene and expensive box will deliver power with 884 pounds of CO2 emissions per megawatt hour.  Compared with the Delaware grid this is a “savings” of 216 pound of CO2 per megawatt hour (1,100 – 884).

From the Gannett article on added cost in September that Delmarva customers will pay to "subsidize" Bloom we have that added unit cost of $171.96 per megawatt hour.  Divide the 216 pounds save into the $171.96 and multiply by 2,000 pounds per ton we have a carbon tax (gift to Bloom and their shareholders Al Gore, John Doerr and Colin Powell) of $1,592.22 per ton of avoided CO2 emissions.   Today Bloomberg reports that in the EU one can buy a metric ton (2,200 pounds) of CO2 emissions for Euro4.60.  This equals $5.55 per US short ton.  Al Jazeera Gore is getting $1,592.22 for something that is worth $5.55 and ripping off the poor and middle class in Delaware by a factor of 287 times ($1,592.22 divide $5.55).

In California and Connecticut where Bloom has many of the coffins (boxes) the factor is infinite as the gangrene fuel cell emits more CO2 per megawatt hour than the grid.  Good old Al Gore and his friends John Doerr and Colin Powell you guys sure have chutzpah to charge markups of between 28,700% and infinite% on your gangrene power.  Governor Markell and Collin O’Mara his green tsar are just a bunch of schlemiels.  The schlimazels are the poor and the middle class who actually fund the rip off by Bloom. 

Here is a link to a Yiddish dictionary in case you what to get the real meaning of chutzpah, schlemiels, and schlimazels.   You all may want to find out what drek means as that really describes the Bloom Coffin.

Tuesday, August 27, 2013

Tesla Defies Gravity

Tesla’s stock has surged once more on the belief that Tesla will be the Porsche of the 21st century.  No doubt as I have oft said the Model S is an engineering marvel that should sell for $30,000 more than it is currently priced.

It is well built, safe, heavy, ergonomic, and stylish but it simply is not green.  I have written enough about how the EPA allows Tesla to fib regarding equivalent MPGs but let’s forget the gangrene at any angle story of the 85 kwh Model S.

Let’s focus on the dropped 40 kwh Model S that was hyped as a big story in the past as the peoples’ EV that would go 160 miles on a charge and cost less than $50,000.  Elon bragged for three years about this “affordable” Model S that he simply could never produce.  The whole story of the Tesla Motor Company for three years was the hype from the green press that Elon was going to give us the Electric Peoples’ Wagon.  That whole hype has been quickly forgotten in the five months since the 40 kwh Model S was dropped on April fools’ day.

Maybe the John Broder story in the New York Times on February 8 had some basis for the pulling of low end Model S?  The 40 kwh Model S would never have had a real range of 160 miles.  Elon certainly knew this!  It probably would have had a range of 100 miles with the heater on in typical winter weather in the Northeast.  Also Tesla would never have made profit selling this version of the Model S for $50,000.  Elon is a savvy businessman and he dropped the whole charade of the peoples’ EV and quickly paid off his Obama loans that were constraining Tesla.   Without the Obama loans he can raise prices to where they have to be to keep the company solvent.

I am not a stock analyst but a $20 billion market cap for Tesla is about as realistic as the 40 kwh model S having a range of 160 miles.  When rationality returns to the stock price and folks realize that Tesla is only about selling high priced fully appointed vehicles I think the price of the stock in dollars will equal the average quantity of kilowatt hours stored in the batteries in each of their cars.  On this non-scientific throw a dart at board basis the price of TSLA should be near $85 a share.  But maybe Elon has a new super hyper duper Model S on the drawing boards with 165 kilowatt hours of batteries and then the stock could stay at the $165 level.

As for the DOE loans that were made to put the peoples’ EV on the road we can thank Elon for paying them back in full and early but alas the folks who are not wealthy will continue to drive a Yaris or a Dart and these motorists can only dream about being part of the Tesla crowd while they buy self-serve regular at a Rotten Robbie.  As for me I still will keep my almost 15 year old car and dream of someday buying an electric pencil sharpener.   For now I will continue to use my mechanical pencil and simply buy lead refills.  I wonder if they will ever make unleaded refills for mechanical pencils??? 

I know lead is made of graphite but sometimes I have to be a little funny.  It will be really funny if Tesla’s stock drops to $85 when the analysts remember that gravity is a fundamental force and the EPA starts to honestly evaluate the MPG equivalent of electric vehicles.  Then the stock will be called a lead balloon. 

Elon will always be called a visionary by the adoring press who think he is the new Edison.  I think Elon is a smart businessman who beat Al Gore and the team at Fisker to a pulp and for that I am eternally grateful.  The photo of the quiet and clean electric car was sent to me by Dean one of my readers who lives in the Silicon Valley.

Sunday, August 25, 2013

Delaware Press Wakes Up To Bloom Boondoggle

15 months after the Green Machine busted Al Gore and Colin Powell in Delaware for their gangrene Bloom Box project, the press in the First State has finally caught on.  Today the Gannett News Journal in Wilmington posted an article of how the Delmarva customers in Delaware are being ripped off by Bloom Energy.

 “Most Delmarva Power customers have no idea, but for the past year they have paid a Bloom Energy subsidiary about $14.5 million, with each residential consumer paying an average monthly surcharge that has soared from 67 cents to $3.83.”

By Jove they got it.  The Bloom box project at the substation in the protected coastal zone is only half built and yet $2.6 million of subsidies from the poor to the rich (yes Al Gore, Colin Powell and John Doerr are rich) will be paid in September alone.  Approximately 21 megawatts of power station is now in place.  September has 720 hours so the added $2.6 million is to cover 21 times 720 or 15,120 megawatt hours of power for the month.  Dividing $2.6 million by 15,120 we have the added unit cost of $171.96 per megawatt hour.  We know Delmarva could have bought wholesale power at around $60 per megawatt hour so Bloom is being paid approximately $232 per megawatt hour or approximately four times what the power is really worth.

My blog back in August 2012 addressed how the poor in Delaware were going to pay far too much for Bloom’s toxic and polluting power.  I am proud how spot on I was.

One year later the Gannett organization gets it!!!!   My Gangrene Congressman still does not get it.  Mr. Huffman is still hiding after taking the most campaign money from AT&T who are Bloom’s largest non-utility customer.  Mr. Huffman won’t let me comment on his public Facebook page but he does say he addressed huge crowds about the need to control greenhouse gas emissions. 
The Gannett article did not tell their readers that now that there are 21 megawatts of the toxic chemical containing Bloom boxes on the pristine coast of Delaware, each day 9.83 pounds of ozone forming VOCs are being blasted into the air thanks to Al Jazeera Gore’s bloody awful Bloom Boxes.  Colin Powell the other gangrene former secretary of state who simply lied about weapons of mass destruction in Iraq also should answer how the 105 Bloom Boxes already installed will generate approximately 2.5 tons of solid toxic waste each year they are run.  This solid toxic and hazardous waste may end up being buried in the hole where we found Saddam Hussein without any WMD.  

The corruption in the US has reached similar proportions to what the Dictator of Bagdad perpetrated a few short years ago.  What we need now is a Congressional hearing into why the FTC has not brought a greenwashing suit against Bloom Energy and its officers and directors.  Why can Bloom steal from the poor in Delaware and California?  Why can Bloom lie about their efficiency and emissions?  Why can fools like O’Mara , Huffman, and Markell set idiotic energy policy?  Is it because Al Gore is their friend?  Is it because they can lie to their constituents because they think we are dumb?  Is it because they need campaign money from the likes of AT&T for reelection? 

This corruption also happens because the Attorney General in Delaware and the Attorney General in California have no guts and are too closely tied to the Whitehouse and the DNC.  In Delaware Joe Biden’s son is the AG.  In California Obama’s Pretty Woman Kamala Harris is the AG.  As for Mr. Holder he won’t prosecute anything that his boss does not tell him to do.  He should concentrate on fast and furious, Benghazi, James Rosen, the IRS, the Associated Press, and the NSA and let Bloom carry on lying, stealing, and polluting.

Friends this country stands at the edge of complete lawlessness.  Bloom Energy is just one vivid example of how broken we are.   Mr. Obama and his new buddy Mr. Huffman (invited to the Whitehouse to hear Carol King sing) think it is fine for the people of Delaware and Northern California (me) to breath the greenhouse gasses emitted by Bloom Energy and to have them send tons of solid toxic waste to dumps.  But these two clowns dressed in green must also remember the “middle class” and the poor pay these hefty utility bills to line the pockets of Mr. Gore, Mr. Powell and Mr. Doerr. 

Mr. Obama next time you dine on fine food and expensive wine at Mr. Doerr’s house drink a toast to how you all managed to sucker us that you actually care.  Mr. Huffman let’s meet for fifteen minutes so I can tell you how I really feel about our ruined country and planet.  You joked to the huge loving crowd in Mill Valley that if the planet was named after Ronald Reagan the GOP may actually care about the planet.  Well as I emailed your staff now that you have visited Israel and boasted about it I am trying to get the Dead Sea named after you. It is the lowest spot on earth and you are about as low as it gets.

Mr. Gore, Mr. Powell, and Mr. Doerr you all should go find some good lawyers as the laws of thermodynamics are closing in on you all.  Condi Rice may have some good suggestions for a Johnnie Cochran type who studied engineering before studying law.   He will say “if the emissions are high let’s say goodbye.”

Gannett got it.  The New York Times might be next.  I smelled the rat over a year ago but then I studied thermodynamics at Iowa State.  The Cyclone Chemical Engineering Department celebrates its 100th anniversary this year.  Go Cyclones but one of your alumni is a hawk eye for spotting thermodynamic fraud. 

Saturday, August 24, 2013

KIOR Now Called Petro Dismal

My last blog gave the timeline from the date of the  DOE term sheet till the IPO and how the lawyers suing KIOR and its officers and directors should get data from the DOE why the cheap Obama loans were pulled so soon after the DOE executed the term sheet with Kior.

Now let’s dwell on an equally sinister timeline of the first quarter 2013 earnings call through the end of the second quarter and the data that was finally released of the paltry quantity of fuel actually produced in the second quarter by the wood to diesel alchemy Condi Rice and her team practiced there in Columbus Mississippi. 

The CEO held the first quarter earnings call on May 9th 2013 and said the following:

"Consistent with our previous guidance, we expect that total fuel production during the second quarter will range between 300,000 and 500,000 gallons, keeping us on track to fall within our projected production range of 3 million to 5 million gallons for 2013."

On May 21 some 12 days after the earning call, the local Columbus Mississippi CBS station (WCBI) was invited for a site tour of the plant to report on the wondrous alchemy happening there in Old Columbus Miss.  A young and probably rookie reporter named Ms. Caresse Jackman was sent to the plant to do the reporting.  Little did Ms. Jackman realize she was going to break a story of her lifetime that might bring down a former Secretary of State for making overzealous claims of the reality in the production weapons of mass combustion.  Donning a blue hard hat and looking quite the part of a chemical professional in the steam belching chemical plant Ms. Jackman reported that “the plant had only shipped a single truckload of diesel so far this year.”

OK we have the CEO saying 12 days before Ms. Jackman’s visit that the plant will produce between 300,000 and 500,000 gallons in the quarter that was to end on June 30, 2013.  But he must have known that with the quarter almost half over they had shipped out next to nothing.  The dozens of lawyers chasing after KIOR and their officers and directors as part of shareholder class action lawsuits will certainly use Ms. Jackson report as part of their case.  I have alerted several of the lawyers to her onsite reporting.

Ms. Jackson should win a Emmy.  She had no clue all dressed in blue that she was about to uncover one of the biggest hypes in the Obama green-space.  She had no clue Condi was hyping the “reality” of Kior as a substitute to imported oil.  She had no clue that Vinod Khosla, who had a hand in Range Fuels and Cello two other gangrene cellulosic flops, was such a big muckety muck from sand Hill Road.  She had no clue that the plant mainly makes carbon dioxide gas and soot and hardly yields any liquid fuel.   All that belching steam was simply for show.

She probably was sent at Kior’s request to show the wonderful shiny new plant belching steam and chipping southern yellow pine trees to shreds.  How was she to know that this plant that the DOE and EPA were counting on to supply more than 50% of the 2013 advanced cellulosic biofuels in the entire US was simply a violator of the second law of thermodynamics?  As far as she knew Dr. Steven Chu was a firm believer in diesel from wood, and after all he is a Nobel Prize winner in low temperature physics.

I early June when I discovered Ms. Jackman’s report on the internet, I emailed her and her editor to tell them she would become famous.  I received no reply from them as I guess they hoped her story would simply go away and that Condi would miraculously produce the weapons of mass combustion in their backwater town in Mississippi.  Well Ms. Jackman and WCBI you are about to become star witnesses in one of the biggest green stock hypes of the century.

When you are called to court you need not wear a blue hard hat.  Please don a green and soft beret as you are part of the Special Forces that uphold the laws of thermodynamics in a corrupted country where former secretaries of state like Powell and Rice and a former Vice President like Al Jazeera Gore are plundering public funds for their gangrene enterprises like Kior, Fisker, and Bloom Energy.  The massive plundering was allowed by people like Dr. Chu who well understood that this was pure thermodynamic nonsense.  Yet to please his boss he let it happen.  Dr. Chu shame on you!!!

Long Live The Laws Of Thermodynamics they may still save our country.  As for Condi Rice she still is looking for additional bismuth pinkcake from Niger which is the active ingredient in Petro Dismal.