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        Discussion Yet another taxpayer funded government energy fiasco...

#1 P-51C Jan 05, 2012 01:59 PM

Yet another taxpayer funded government energy fiasco...
 
http://www.ajc.com/business/georgia-...d-1289567.html

"Georgia ethanol plant sold, at taxpayers' lossShareThisPrint E-mail .By Dan Chapman


The Atlanta Journal-Constitution

The failed Range Fuels wood-to-ethanol factory in southeastern Georgia that sucked up $65 million in federal and state tax dollars was sold Tuesday for pennies on the dollar to another bio-fuel maker with equally grand plans to transform the alternative energy world.

LanzaTech, a New Zealand-based biofuel company, paid $5.1 million for the plant in Soperton. Its main financial backer: Vinod Khosla, a California entrepreneur who also bankrolled Range Fuels, and helped secure its government loans, before Range went bust last year (snip)

Range cost U.S. taxpayers $64 million and Georgia taxpayers another $6.2 million. Tuesday's sale netted $5.1 million which will help offset losses suffered by the U.S. Department of Agriculture. "

#2 mikefast Jan 05, 2012 02:18 PM

obammy will O.K. a new loan to the new company, and of course that taxpayers will pick up the tab. Money means nothing to obammy. By the way, has he ever held a real job?

#3 MaddSkillz Jan 05, 2012 02:20 PM

Government is a business without competition.

#4 radix2 Jan 05, 2012 02:23 PM

Energy is a huge and profitable industry, if there is no private money for a project, it is a pretty darn clear vote that the risk is not worth it.

The gov should stick with backing research, where the $$ are much less and the return is just as good.

People need to lose their jobs over these deals.

#5 logan5 Jan 05, 2012 02:37 PM

Quote:

Originally Posted by radix2 (Post 20330317)
Energy is a huge and profitable industry, if there is no private money for a project, it is a pretty darn clear vote that the risk is not worth it.

The gov should stick with backing research, where the $$ are much less and the return is just as good.

People need to lose their jobs over these deals.

I can agree with almost all of this.


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