The success of Tesla Motors complicates Fox News' narrative about green energy investments, but the network has a strategy: simply ignore the fact that the company received a federal loan.
Tesla, a leading electric automaker, received a $465 million loan guarantee from the Department of Energy's Advanced Technology Vehicles Manufacturing (ATVM) program in 2010. The company has since become a fixture in car magazines and one of the most conspicuous successes of the Obama administration's green energy policies, recently announcing that it intends to pay back the loan five years ahead of schedule and reporting its first quarterly profits. On the heels of the latter news came word that the notably tough reviewers at Consumer Reports had given the Tesla Model S sedan a 99 out of 100 rating, proclaiming "we've never seen anything quite like the Model S. This car performs better than anything we've ever tested before."
On Friday, Fox News reported the quarter one profits -- "encouraging" -- and the positive review, pronouncing the automaker a "huge success."
"If you're smart or rich or lucky maybe you'll beat the laws of man but the inner laws of spirit and the outer laws of nature no man can, no, no man can." ~Joni
Eli Whitney is credited by history with developing in America mass production of muskets with interchangeable parts. History skims over the fact that the US Government funded the idea of mass production and interchangeable parts. Like any part of history people argue over details, but Whitney repeatedly got more funds from Congress to fullfill the contract for his initial order of 10,000 muskets. Business, in America would be still horse and buggy blacksmithing without government funding the advancement.