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- Sep 15, 2008
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From the Washington Examiner:
Green-energy plant sucks up subsidies, then goes bust | Timothy P. Carney | Politics | Washington Examiner
Green-energy plant sucks up subsidies, then goes bust | Timothy P. Carney | Politics | Washington Examiner
I have a good idea how we can get off foreign oil: Drill for domestic oil.To turn wood chips into ethanol fuel, George W. Bush's Department of Energy in February 2007 announced a $76 million grant to Range Fuels for a cutting-edge refinery. A few months later, the refinery opened in the piney woods of Treutlen County, Ga., as the taxpayers of Georgia piled on another $6 million. In 2008, the ethanol plant was the first beneficiary of the Biorefinery Assistance Program, pocketing a loan for $80 million guaranteed by the U.S. taxpayers. Last month, the refinery closed down, having failed to squeeze even a drop of ethanol out of its pine chips.