Sunday, March 30, 2014

Kleiner Perkins and Wanxiang

Much has been made of the news that Wanxiang the leading Chinese auto parts maker has bought Fisker the failed “plug in” auto company that Al Gore and his partners at Kleiner Perkins invested in and pretended was a green technology and the future of automotive technology.

The link below summarizes the recent purchase of Fisker by Waxiang.

Waxiang now owns the old assembly plant in Delaware and we will see if they assemble cars in the First State.

What is not reported is the previous business relationship Waxiang had with Kleiner Perkins when Waxiang invested heavily more than two years to become the largest shareholder in Great Point Energy a Kleiner Perkins startup. 

Great Point claimed to have coal to natural gas synthesis technology.  KP invested in them when natural gas prices in the US were high and all the pundits except the Green Machine thought the US would have a long term continued shortage of natural gas.  Nothing green about Great Point as it produces one mole of CO2 for each mole of CH4 or in mass terms it produces 2.75 tons of CO2 for each ton of methane produced.   Uncle Al Gore and his partners at KP made money in selling a CO2 polluting technology to the Chinese.

The link below explains this pollution in the form of CO2 that China will inflict upon the world in converting their coal to methane.

Worse still the coal to methane technology needs copious amounts of water that China simply does not have in the arid regions of the country where these plants will be located.   Al Gore and his friends at Kleiner Perkins don’t really care about air and water!  They simple care about green backs.

What is interesting is that Wanxiang and Kleiner Perkins had a tight relationship that long predated the Fisker sale.   The press made a big story of how two Chinese companies fought over Fisker.   I published the story that the US DOE gave up their secured position in Fisker for Bupkis. 

 I now think the whole “auction” fight that entailed Wanxiang was a sham.   KP and Wanxiang are “buddies”.   KP wanted Wanxiang to win Fisker at the lowest cost to help their buddy.  They all arranged the third party other Chinese company to buy out the Feds at pennies on the dollar to rid the company of the DOE loans that were secured.    Wanxiang and the third party Chinese company pretended to bid against the other in the bankruptcy auction and we the tax payers were long forgotten.   Fisker is now firmly in the hands of Wanxiang who are KP’s partner in Great Point and KP and Wanxiang will continue to be partners polluting the air in China and diminishing the water supply in the arid regions of China.

A Great Point I am making is how naive if not stupid Dr. Moniz and his DOE were when they were played like a cheap fiddle to bow out of our secured position in Fisker.  The other Great Point I am making is that Kleiner Perkins missed out on the shale revolution and invested in Luca the Polluter that is now shut, and Great Point is a “technology”  that only makes sense in China where natural gas is in short supply and the country pollutes like there is no tomorrow.    The last Great Point of this blog is that Al Gore is Gangrene from head to toe and is a Great Pointless Hypocrite.