Sweet Subsidies

Did you ever wonder about the return one gets for tax dollars? There is a bit of a sad story at the Examiner http://washingtonexaminer.com/politics/2011/02/green-energy-plant-sucks-subsidies-then-goes-bust of a bio-fuel plant closing down. It is an example of what we get for our subsidy dollars.

Range Fuels built a cutting-edge refinery, to turn wood chips into fuel. Net cost to the taxpayer: $162,000,000, and private investors added another $100,000,000. $262 million and the amount of bio-fuel they produced: zero. The realization that the taxpayers and green investors were taken for a ride: priceless.

Don’t worry. We are still subsidizing bio-fuel, and the farmers are doing somewhat better than Range Fuels, but bio-fuel costs more to make than it is worth. The same goes for wind generated electricity and photoelectric cell electricity, but what the heck. It’s only taxpayer money. Do you suppose it’s too late to jump on the investment wagon?

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