Posted on 09/29/2011 3:12:13 PM PDT by Slyscribe
The Energy Department continued to hurry up approvals for green energy loans before the program ends Sept. 30. Late Thursday, the DOE approved a $132 million loan guarantee for Abengoa Bioenergy Project, a Kansas-based cellulosic ethanol plant.
The project would create 65 permanent jobs — or just over $2 million per position. That’s actually a big improvement from Wednesday’s DOE approvals of more than $1 billion in loans to two green projects promising 52-55 permanent jobs.
(Excerpt) Read more at blogs.investors.com ...
Why is DOE giving out loans in the first place, and with what money?
how much did they donate to Obama and the Democrats?
Might be time to dis-establish the Dept of Energy. It was created under Jimmy Carter which pretty much makes it a stupid idea in the first place. Stupid & wasteful that is!
For later. I know them. Looks like they finallly got it
The Secret Government Bank That's Financing More Solyndras
.
Good question. Also, how much of this loan money will be washed through the companies and construction unions and end up back in Democrat campaign coffers?
ping.
It’s OUR money, coming out the Treasury, via a little-known Federal Loan bank...aka Timmy Geithner’s personal wallet/crony slushfund. NO oversight, no DIC, no government contract bid or award, no audit.
see this
http://www.foxbusiness.com/markets/2011/09/28/government-bank-financing-more-solyndras/
The science is not there for economical ethanol production from cellulosic feedstocks. This is as much of a travesty as the solar loans. Read about the story with Range Fuels in Georgia. The citizens need to tell Congress to stop funding these fairy tale energy ventures. Follow the money!
If they have money to lend; then they sure as hell have toooooo much of my money already.
And the looting continues now in the open for all to see and we the people sit on the side lines and wonder why the representatives we elected to represent us are also sitting on the side lines with us and SAYING NOTHING AND DOING NOTHING!!!!!!!!!!!!
Hey, it’s only money from the suckers with the bum paychecks. If they complain, they’ll only get hit harder.
Yes, the Goodfellas quotes come easier and easier.
Seconded. As I've said before, Solyndra should have been a death penalty offense for the DoE.
Javier Salgado Leirado. President and CEO of Abengoa Bioenergy S.A., Madrid
Producer of subsidized Ethanol for years in the USA.
These guys are leveraged to the hilt. I would not loan them bus fare.
Check out their balance sheet 2010. They have negative retained earnings and negligible equity. Current ratio looks awful.
Looks like a laundromat.
yep, subsidizing failure, that is leftists for you
The money has already been appropriated and given to DOE. It was part of the stimulus bill. Congress cannot stop the spending of the money. Only the Executive Branch could choose not to obligate the money. It is a use or lose situation.
Not so simple. The money was already appropriated -- by the previous Congress.
In order to defund this particular program, the House would have to pass a bill doing exactly that -- then, the Senate would have to pass it and the President sign it into law.
Not gonna happen.
In the meantime, DOE is under the gun to loan all the money that's been appropriated and take care of Obama's contributors by the end of the fiscal year.
There really isn't much the Republican House can do about it.
There is something we can do about it, though. Vote against every sleazy, corrupt Democrat on the ticket.
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