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Tax money in ‘green toilet’

July 11, 2012
The Leader Herald

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.

Obama and other politicians are using billions of dollars in public funds to postpone the demises of some "green" energy enterprises.

 
 

 

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