Obama hands out a $2 BILLION loan to further his global warming goals
December 22, 2016 | BPR Wire | Print Article
The Obama administration will give $2 billion in loan guarantees to a first-of-a-kind project meant to further the president’s global warming goals in the final weeks before President-elect Donald Trump takes over.
The Department of Energy (DOE) announced Wednesday its support for the Lake Charles Methanol plant. When built, it’ll be the first U.S. facility to turn petroleum coke to methanol, as well as the first such project to use carbon capture technology.
It’s also the first so-called “Advanced Fossil Energy Project” DOE has funded with the $30 billion left in its loan portfolio. This is the same loan program projected to lose $2.1 billion after loaning money to several now-bankrupt green energy companies, like Solyndra.
http://www.bizpacreview.com/2016/12/22/obama-hands-2-billion-loan-global-warming-goals-426645
