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Geothermal energy another waste

July 11, 2012
Tribune Chronicle | TribToday.com

Flushing taxpayers' money down the ''green'' toilet in Washington has become a habit. 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 recently 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.

While federal government does all in its power to ruin the coal industry, it is 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.

editorial@tribtoday.com

 
 

 

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