Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Facebook | Twitter | Home RSS
 
 
 

Geothermal cash latest flush from Dems’ green team

July 11, 2012
Salem News

Flushing taxpayers' money down the "green" toilet in Washington has become a habit for President Barack Obama's administration. Now, to hundreds of millions of dollars gone in government subsidies for solar power projects and companies such as Solyndra, add geothermal energy to the mix.

And add U.S. Senate Majority Leader Harry Reid, D-Nev., to the list of politicians who have helped failing "green" energy firms with taxpayers' money.

It was reported last week the Nevada Geothermal Power company is in hot water financially. According to a published report, NGP has lost $98 million during the past several years and, after servicing its debt, is having trouble covering operating costs.

If NGP joins losers such as Solyndra in going bankrupt, taxpayers may lose the $98.5 million in loan guarantees provided the firm by the Obama administration through a program Reid pushed in the Senate.

While Obama, Reid and other liberals do all in their power to ruin the coal industry, they are using billions of dollars in public funds to postpone the demises of some "green" energy enterprises. That is something voters ought to remember in November.

 
 

 

I am looking for:
in:
News, Blogs & Events Web