|Jan 05, 2012, 02:59 PM|
Yet another taxpayer funded government energy fiasco...
"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. "
|Jan 05, 2012, 03:18 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?
|Jan 05, 2012, 03:23 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.
|Jan 05, 2012, 03:37 PM|
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