Obama's Algae Racket

>>It is not a subsidy if the users are charged the cost

And the SDS associated storm-water “fee” wasn’t a “tax” - according to the local “little Chicago” good-ol-boy kleptocrats. Riiiiiight.

"The smooth-talking, beefy and blustery Aries was bankrolled by a 10-year, $104 million non-recourse loan (he had no personal liability to repay it) from Western Savings and Loan of Phoenix, Arizona’s largest S&L.

[snip]

A year later, Aries bought the 3,631-acre Colorado Centre development, adjacent to the ranch, from L-P Associates for $41.3 million.

The purchase was funded by a $33.3 million loan from Western Savings, which had already loaned out millions for casino projects in Las Vegas and Atlantic City.

Eventually, Aries’ loans were reported at $240 million total.

In Colorado Springs, his golden touch spread far and wide.

Aries convinced the Colorado Springs School, an exclusive prekindergarten through 12th grade private school on Broadmoor Avenue, to allow his son to attend without paying tuition on the promise that he would construct a new building for the school.

“A lot of people thought he was a great guy,” said long-time Colorado Springs resident John Daly. “When his son was to have his bar mitzvah, Aries held a big breakfast in the main dining room at the Broadmoor for business associates and all sorts of people. Then they all got aboard several buses and went to Denver for the bar mitzvah.”

Persuaded by Aries that a master plan and annexation would cause the value of Banning Lewis Ranch to skyrocket, Western Savings agreed to open a line of credit to finance the master plan.

The plan included 25,000 homes, golf courses, a new headquarters for the U.S. Space Foundation, a $3 million IMAX theater, a high-tech Olympic Hall of Fame; and a $35 million eight-lane thoroughfare, called the Banning-Lewis Parkway, running north and south through the property.

In 1988, Aries convinced the Colorado Springs City Council to annex his property. Mayor Robert Isaac was one of two who voted against annexation. The Council’s other seven members eagerly voted yes. It was the largest annexation in the state’s history.

If he couldn’t stop annexation fever, Isaac extracted a pound of flesh by requiring an annual $250,000 payment to the city for providing services to land that remained undeveloped until 2007.

“He (Aries) was a real showman, no question about it, and arrogant, too. He demanded the Council annex Banning Lewis Ranch,” Daly said.

Annexation was supposed to create a flock of eager developers wanting to buy parts of the ranch. They would propel the value of Banning Lewis Ranch to the moon. Aries would then be able to sell part of the ranch and pay off his loans.

Those developers never materialized, and Aries’ house of cards collapsed a year after annexation.

He defaulted on his loans and deeded the ranch back to Western Savings.

http://www.newfalconherald.com/DisplayArticle.php?ArticleID=6784

Uhuh. No subsidization there.

The Banning Lewis fiasco has been a centerpiece of Good-Ol-Boy cronyism, including Mobil Oil and Russian Mafiosi, for over 40 years - right in Moochele's front yard.

Ultra Lays Out Drilling Plans for Banning Lewis Ranch

by Andrew Wineke

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The Gazette (Colorado Springs, Colorado)

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Thursday, March 22, 2012

"...We can't reach that from Banning Lewis," he said. "We'd have to set up in a school playground. That's a joke - if there are any members of the media here, that was only a joke. If there's no surface access, we don't get too excited about it."
In Greeley, where there are more than 400 wells inside the city limits, big oil companies have avoided densely populated areas, but smaller companies have found a profitable niche working through the challenges of drilling near residential areas.
Kent Rogers, Ultra's vice president of drilling, said the company has secured private water sources for its drilling operations. He would not say where the water came from...
http://www.rigzone.com/news/article.asp?a_id=116306&hmpn=1

"Just a Joke" Uhuh.

FAIL.

Since when is government supposed to be in the business of selling anything, Comrade?

Municipalities have built water systems, sewer systems, etc and charged the users for what? a hundred years or two?

How do you want it done? Give it away for free?

>>How do you want it done?

With the permission of the voting public - and not shoved up our arse by a bunch of crony good-ol-boys riding the Enterprise gravy train.

I’ve gotta ask....won’t this affect our precious ‘wet lands’ adversely? Call the EPA!