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<blockquote data-quote="Babagounj" data-source="post: 2535972" data-attributes="member: 12952"><p><a href="http://dailycaller.com/2016/12/21/obama-hands-out-a-2-billion-loan-to-further-his-global-warming-goals/" target="_blank">Obama Hands Out A $2 Billion Loan To Further His Global Warming Goals</a></p><p></p><p>In May, The Department of Energy's (DOE) inspector general <a href="http://dailycaller.com/2016/05/02/ig-questions-the-viability-of-does-116-million-clean-coal-debacle/" target="_blank">issued a report</a> on the Texas Clean Energy Project (TCEP). The IG questioned DOE’s plowing $116 million into the project “without assurances that it would succeed.”</p><p></p><p>TCEP was estimated to cost $1.9 billion when DOE first loaned it money, but now the project’s costs have doubled to $3.9 billion. TCEP wasn’t even under construction when the IG issued its report.</p><p></p><p>The Obama administration will give $2 billion in loan guarantees</p><p>the DOE announced Wednesday its support for <a href="https://www.energy.gov/articles/energy-department-offers-conditional-commitment-first-advanced-fossil-energy-loan-guarantee" target="_blank">the Lake Charles Methanol plant</a>. 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.</p><p></p><p>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 <a href="http://dailycaller.com/2016/11/30/obamas-green-energy-loans-are-still-on-track-to-lose-money/" target="_blank">projected to lose $2.1 billion</a> after loaning money to several now-bankrupt green energy companies, like Solyndra.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 2535972, member: 12952"] [URL="http://dailycaller.com/2016/12/21/obama-hands-out-a-2-billion-loan-to-further-his-global-warming-goals/"]Obama Hands Out A $2 Billion Loan To Further His Global Warming Goals[/URL] In May, The Department of Energy's (DOE) inspector general [URL='http://dailycaller.com/2016/05/02/ig-questions-the-viability-of-does-116-million-clean-coal-debacle/']issued a report[/URL] on the Texas Clean Energy Project (TCEP). The IG questioned DOE’s plowing $116 million into the project “without assurances that it would succeed.” TCEP was estimated to cost $1.9 billion when DOE first loaned it money, but now the project’s costs have doubled to $3.9 billion. TCEP wasn’t even under construction when the IG issued its report. The Obama administration will give $2 billion in loan guarantees the DOE announced Wednesday its support for [URL='https://www.energy.gov/articles/energy-department-offers-conditional-commitment-first-advanced-fossil-energy-loan-guarantee']the Lake Charles Methanol plant[/URL]. 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 [URL='http://dailycaller.com/2016/11/30/obamas-green-energy-loans-are-still-on-track-to-lose-money/']projected to lose $2.1 billion[/URL] after loaning money to several now-bankrupt green energy companies, like Solyndra. [/QUOTE]
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