Obama Grants $25M Loan To Create 38 Biofuel Jobs
Two days after President Barack Obama blocked construction of a major oil pipeline, his administration is touting its efforts to expand domestic production of renewable energy.
Agriculture Secretary Tom Vilsack announced Friday that his agency has approved a $25-million conditional loan guarantee to build a 55,000-square-foot biorefinery plant in Iowa.
The Fiberight facility will produce cellulosic ethanol by converting municipal solid waste and other industrial pulps into “advanced biofuels,” the news release said.
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Another waste of our tax dollars!
This is all about kickbacks. Obama, his campaign and his evil friends are all getting kickbacks from these guys and think they are fooling everyone with the “Green” nonsense. It is all too obvious and it will destroy the nation.
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We really need something like that to convert all the BS coming out of the White House into something useful…but it should be built in Washington DC…
Anytime someone saysgo green, it means it is going to cost me more out of my pocket!
Obama shuts down permits for an oil company to build the pipeline that would create thousands and thousands of jobs and the only ones paying for it is the oil companies and not us tax payers.But now he grants $25M to only create 38 jobs.Boy what an idiot!!!
If Vilsack is involved, you know it’s not good. He is a puppet in the King Obamir reign. He was Governor of my state, Iowa, and like King Obamir, I didn’t vote for him either. Vilsack will kiss arse to be a part of anyone’s game plan.
Next on the obummer BS agenda…the flux capacitor….but it will probably only work in a Delorian!! Typical usefulness for this administration.
Here we go again, more good money being thrown away.
38 biofuel jobs? How many jobs will be left after the CEO’s donate 25 1/2 million to Odumbo’s campaign and then declare bankruptcy?
Obama has lent them enough money so the don’t go Bankrupt until after the elections … this company will make $$$ … their only RAW MATERIAL IS GOVERNMENT WASTE … can we turn Obama into biofuel ?
I though the house had to approve any government spending. What is going on here?
The senate and the congress are more guilty than Obummer. They let him get away with by passing congress and going against the constitution. We the people are to blame for voting for him and the people got what we voted for.
This is just another STUPID move by the Obama administration! What in the hell does he think we are, dumb?? This also will go bankrupt and the CEO will get millions in pay back money!
The idea here is to help provide starving people with a means of livelihood, rather than just a meal. You see, a time-tested activity of government is to help budding industries get off the ground. The US, overall, has a long and tested history of this activity. Much of America’s technical prowess would never have developed had not the Federal Government provided funds to help inventors get their ideas to the market place. It’s very costly to grow a company from basic, technologically sound ideas to a salable product, and there has been very little help in recent times from private funding sources, such as venture capital, for technological companies. In recent times, venture capitalists have shied away from technology, preferring to put their money into service oriented ventures, because, with the explosion of these sectors in recent times, that’s where they get the most bang for their buck. Remember, as much as 40 % of our economy is now the Financial Sector. The private funding people don’t really care about the country, only on how to multiply their investment by a factor of ten in a few years. It’s the related government activity that does have a concern for the country and our society. I know this personally, from the small companies I have worked for in my engineering career. There are of course mistakes, and even corruption, involved with government activity, especially now-a-days. But to reject the idea of the Fed helping budding technological advances is throwing out the baby with the bath water. For instance, the Chinese are smart. Their government funds private companies in China with a very strong alliance and commitment to industrial strength. I’m sure many Chinese are rolling in laughter when they read comments by the public such as appear here. I appeal to those here who have become too cynical about US Government domestic policies. Please reconsider your extreme stance. You are making a terrible mistake, one for which we, as a country are surely paying for.
All well and good except for the fact that too much government funding to start-ups since January 2009 has gone to major contributors to Obama’s campaign…payback = corruption. Solendra (sp?) for just one example…and now bankrupt Solendra (sp?) wants more government funding for executive bonuses? Go peddle your Obama crap to Obama’s minions.
it must be 8 union jobs since Odumbo takes care of his Union Thugs/Cronies.
Don’t these lying crokks and thieves have to be approved, answer to anyone??? What kind of suckers are taxpayers??/ Why do we just read these insanities and watch the same next month. Who controls taxpayer money????
Good job, Obama! Keep doing what you do!
Keep doing stupid stuff like this, thus giving your opponent plenty of material to use against you come election day.
“Obama turned down the opportunity to provide for thousands of American jobs and all at the expense of big oil while the taxpayer would have paid nothing. Instead, Obama opted for a government program that would cost taxpayers millions while only creating 38 jobs…. America cannot afford another four years, NO IT CAN’T.”
HO! , HO!, HO!
Obama must have forgotten Solyndra!