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Jan 05, 2012, 01:59 PM
Reserved Parking
P-51C's Avatar
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. "
Jan 05, 2012, 02:18 PM
Registered User
mikefast's Avatar
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, 02:20 PM
Intergalctic Coffee Enthusiast
MaddSkillz's Avatar
Government is a business without competition.
Jan 05, 2012, 02:23 PM
Radix malorum est cupiditas
radix2's Avatar
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, 02:37 PM
Libertas in Infinitum
logan5's Avatar
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.


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