Posted on 01/27/2015 1:02:53 PM PST by Olog-hai
On paper, the pitch was simple: A green energy company backed by $217 million in U.S. government loans would convert one of Africa’s poorest countries into the world’s first biomass-driven economy. But the plan to help Liberia collapsed amid questionable business decisions and oversight.
The company, Buchanan Renewables, dismissed 600 workers and left the country amid complaints of workplace injuries, environmental harm and, at times, sexual abuse.
Backing the company at every stage was the Overseas Private Investment Corporation, a federal agency with a global mandate but low profile. The agency approves more than $3 billion a year in financing, targeting developments in hard-pressed communities. But its internal watchdog has issued reports on just five deals since 2005, a period when OPIC approved more than 530 projects. …
(Excerpt) Read more at hosted.ap.org ...
Oh it’s a green company for the fleece manager in the executive suite.
Fundamentals vs. ‘windmills’ and pipedreams.
Obamascum.
Someone made money off of this.
The “green” is the money that can be grifted off these kinds of efforts.
Probably 90% of this kind of a guarantee is stolen.
And how much did these companies donate to Democratic Party coffers? Yet another green money laundering scheme. What is left of the Five Families is wondering why they didn’t think of this earlier.
Anyone still wonder why we're swirling down a $16 trillion debt toilet?
A green biomass company, in west Africa, with 217 million tax dollars sloshing around. I cannot understand how this failed. It had all the appearances of a huge success./
meant to help Liberia, fails, Fred Hayek wrote:
And how much did these companies donate to Democratic Party coffers? Yet another green money laundering scheme. What is left of the Five Families is wondering why they didn’t think of this earlier.
Start checking the entourage list to see if they were members on one of those “state visits”...
Paging Mr. Boehner. Mr. John Boehner please pick up the nearest white courtesy phone.
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