Author Topic: State Gave $69 Million Loan to Green Energy Company on Verge of Bankruptcy  (Read 536 times)

0 Members and 1 Guest are viewing this topic.

Offline rangerrebew

  • America defending Veteran
  • TBR Contributor
  • Hero Member
  • *****
  • Posts: 76,320
« Last Edit: August 19, 2014, 05:41:31 AM by rangerrebew »
"Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim tribute to patriotism who should labor to subvert these great pillars of human happiness -- these firmest props of the duties of men and citizens. . . . reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principles."
George Washington

"Only a virtuous people are capable of freedom. As nations become more corrupt and vicious, they have more need of masters."
Benjamin Franklin

Offline Oceander

  • Technical
  • Hero Member
  • ****
  • Posts: 48,192
  • TBR Illuminati
Are there any "green" energy companies that haven't defaulted or gone bankrupt?

Offline GourmetDan

  • Hero Member
  • ****
  • Posts: 7,168

That's how it works.  Government funds those companies and ideas that the market will not.

And there's usually a good reason the market won't fund them...


"The heart of the wise inclines to the right, but the heart of the fool to the left." - Ecclesiastes 10:2

"The sole purpose of the Republican Party is to serve as an ineffective alternative to the Democrat Party." - GourmetDan

Offline truth_seeker

  • Hero Member
  • ****
  • Posts: 19,922
  • Common Sense Results Oriented Conservative Veteran
    • The place where argument addicts can go
The fedgov has mandated a certain percent of energy be derived from "alternative" sources. Same for many state governments.

So big electric power generating utilities, have to go along, to get along, and to get loans, licensing, permitting, etc.

A lot of crony capitalism involves lawyers who draft enormously complicated contracts, to secure or grant financing, out of public coffers, direct or guaranteed. Lawyers, accountants, securities brokers all earn fees for such instruments.

By the time it blows up, because the underlying economics were based on voodoo, the checks for the fees have already been cashed.

Such is the revolving door of elected, appointed offices, K street, financiers, lawyers, accountants, bond rating agencies, etc.

You say we need a railroad from Bakersfield to Stockton? No problema. We will have to run it on biofuels, however. You know, liquid transport fuel derived from lawn cuttings, deep fat frying grease, trash, etc.

What will that fuel cost? Oh, about $13 per gallon. But the differential wil be buried in various department general fund budgets, state and federal grants, financing, etc.

At the end of the day, it would take a team of genius forensic accountants weeks to discern what really goes on.

I have tried such exercizes with "redevelopment" and "low cost public housing" and it is mind-boggling.

Those interests (government employees, lawyers, accountants, financiers, etc.) all have a vested interest in two thing:

1. It is too complicated for mortals to unravel, and
2. That it continues.
"God must love the common man, he made so many of them.�  Abe Lincoln

Offline rangerrebew

  • America defending Veteran
  • TBR Contributor
  • Hero Member
  • *****
  • Posts: 76,320
Just think of the massive amount of transportation and electric energy savings if the government downsized.  I don't believe there would be a problem with having enough energy then.  Of course I'm not suggesting the government is it's own worst enemy in energy conservation. :whistle:
« Last Edit: August 20, 2014, 09:45:29 AM by rangerrebew »
"Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim tribute to patriotism who should labor to subvert these great pillars of human happiness -- these firmest props of the duties of men and citizens. . . . reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principles."
George Washington

"Only a virtuous people are capable of freedom. As nations become more corrupt and vicious, they have more need of masters."
Benjamin Franklin

Offline Oceander

  • Technical
  • Hero Member
  • ****
  • Posts: 48,192
  • TBR Illuminati
The fedgov has mandated a certain percent of energy be derived from "alternative" sources. Same for many state governments.

So big electric power generating utilities, have to go along, to get along, and to get loans, licensing, permitting, etc.

A lot of crony capitalism involves lawyers who draft enormously complicated contracts, to secure or grant financing, out of public coffers, direct or guaranteed. Lawyers, accountants, securities brokers all earn fees for such instruments.

By the time it blows up, because the underlying economics were based on voodoo, the checks for the fees have already been cashed.

Such is the revolving door of elected, appointed offices, K street, financiers, lawyers, accountants, bond rating agencies, etc.

You say we need a railroad from Bakersfield to Stockton? No problema. We will have to run it on biofuels, however. You know, liquid transport fuel derived from lawn cuttings, deep fat frying grease, trash, etc.

What will that fuel cost? Oh, about $13 per gallon. But the differential wil be buried in various department general fund budgets, state and federal grants, financing, etc.

At the end of the day, it would take a team of genius forensic accountants weeks to discern what really goes on.

I have tried such exercizes with "redevelopment" and "low cost public housing" and it is mind-boggling.

Those interests (government employees, lawyers, accountants, financiers, etc.) all have a vested interest in two thing:

1. It is too complicated for mortals to unravel, and
2. That it continues.


Cannot disagree with you.  The groups you've identified are the masters of arbitraging government.


Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf