Posted on 08/18/2014 3:33:12 PM PDT by Islander7
Biofuel manufacturer KiOR’s financial struggles might leave Mississippi holding the title to another failed green energy project.
According to the company’s quarterly report, without additional financing KiOR won’t be able to meet its financial obligations past Sept. 30.
One of its biggest creditors is the state of Mississippi.
The company owes the state $69.275 million on a no-interest loan to build a first-of-its kind plant to convert wood pulp into gasoline, fuel oil and diesel fuel in Columbus, Miss. It missed its most recent semi-annual payment of $1.875 million to the state, which granted forbearance June 3. But that ends Oct. 31.
(Excerpt) Read more at dailysignal.com ...
How come Haley Barber’s name came to mind the second i read the title of the article...
???
Wonder how much his lobbying firm made off of this
That’s the most relevant question.
How about the gazzillions the bankruptcy and litigation lawyers will rake in.... this is an economic bonanza for the country club set....
No political identification of either governor mentioned in this article. Lazy reporting or deliberately omitted.
It is possible that you cannot wonder a number that large. I doubt I could.
Dear Lord! It’s worse than I thought.
Have you heard anything about the new electric plant in DeKalb?
>> Have you heard anything about the new electric plant in DeKalb? <<
Unless it’s stopped by the PSC or state Supreme Court, I’ve read that it’s gonna be perhaps 100 times worse than KiOR — because over a span of 15 or 20 years, it could cost the customers of Miss. Power as much as three or four billion dollars more than the cost would be for electricity from a conventional gas-fired generating plant.
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