“A recent ruling by a federal judge dictates that oil companies must contribute to the roughly $7.2 billion in cleanup costs of decommissioning oil wells in the Gulf of Mexico. The ruling marks a significant turn in the bankruptcy case of Fieldwood Energy LLC, who are seeking to pass the buck on cleanup costs … [Read more…]
“The owner of a Nevada solar farm financed with government backing filed for chapter 11 bankruptcy, proposing to repay taxpayers less than half of what they are owed on $425 million in outstanding public debt used to build the project. Under the proposed deal, the U.S. government would lose as much as $225 million … [Read more…]
“US residential solar installer PetersenDean has filed for Chapter 11 bankruptcy protection. Red Rose Inc, the parent company of the California-based installer, filed a voluntary petition with the United States Bankruptcy Court for the District of Nevada on 11 June. The firm appears to have preceded the filing by suspending solar and energy storage … [Read more…]
“Warren Buffett’s investment conglomerate, Berkshire Hathaway, took a $377 million hit in the first quarter of 2019 due to prior years’ investments in a group of funds run by a company that’s now believed to be a Ponzi scheme. Between 2015 to 2018, Berkshire Hathaway invested a total of $340 million in tax-credit investment … [Read more…]
“A federal jury on Wednesday convicted the owner of an Excelsior renewable energy firm of multiple fraud charges in connection with bilking more than 70 customers out of millions of dollars for wind turbines they never received. Prosecutors charged Shawn Robert Dooling, 52, last year after an FBI investigation, alleging that he used Renewable … [Read more…]
“Abengoa, the Spanish company that built the expansive $2 billion concentrated solar plant near Gila Bend, is broke and headed toward a possible bankruptcy filing. It’s the latest solar scandal for the Obama administration, which picked Abengoa for billions in lucrative loan guarantees. This week, Abengoa filed in Spain for protection against its creditors, … [Read more…]