HobbyKing.com New Products Flash Sale
Reply
Thread Tools
Old Jan 05, 2012, 01:59 PM
Reserved Parking
P-51C's Avatar
Joined Jun 2004
926 Posts
Discussion
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. "
P-51C is offline Find More Posts by P-51C
Reply With Quote
Old Jan 05, 2012, 02:18 PM
Registered User
mikefast's Avatar
Houston Intercont, Texas, United States
Joined Jun 2001
122 Posts
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?
mikefast is offline Find More Posts by mikefast
Reply With Quote
Old Jan 05, 2012, 02:20 PM
Intergalctic Coffee Enthusiast
MaddSkillz's Avatar
United States, OK, Tulsa
Joined Jun 2011
1,419 Posts
Government is a business without competition.
MaddSkillz is offline Find More Posts by MaddSkillz
Reply With Quote
Old Jan 05, 2012, 02:23 PM
Radix malorum est cupiditas
radix2's Avatar
Joined Jul 2000
460 Posts
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.
radix2 is offline Find More Posts by radix2
Reply With Quote
Old Jan 05, 2012, 02:37 PM
Libertas in Infinitum
logan5's Avatar
Houston Ellington, Texas, United States
Joined Feb 2001
312 Posts
Quote:
Originally Posted by radix2 View Post
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.
logan5 is online now Find More Posts by logan5
Reply With Quote
Reply


Thread Tools

Similar Threads
Category Thread Thread Starter Forum Replies Last Post
Discussion Just another example of Government and Corporations working hand in hand ... logan5 Life, The Universe, and Politics 1 Nov 17, 2011 11:51 AM
Discussion another Tar Baby for green energy and the government logan5 Life, The Universe, and Politics 63 Oct 13, 2011 02:12 PM
Discussion Spektrum DX8 - Not yet 1yrs and yet another Problem. freechip Radios 20 Aug 29, 2011 06:53 AM
Discussion Economic benefit of taxpayer funded scientific research Jim Thomerson Life, The Universe, and Politics 23 May 22, 2011 11:57 PM
Poll Government funded health care anyone? Bilbobaker Life, The Universe, and Politics 218 Apr 29, 2007 12:59 AM