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Green projects needed but must be picked carefully

July 9, 2012
The Mining Journal

We believe that green energy sources have important roles to play in the nation's future.

But a plan backed by Senate Majority Leader Harry Reid, D-Nev., leaves a lot to be desired - plus it's losing buckets of 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 administration through a program Reid pushed in the Senate.

While President Obama, Reid and others do all in their power to ruin the coal industry, they are using billions of dollars in public funds to postpone the demises of some "green" energy enterprises.

That is something voters ought to remember in November.

 
 

 

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