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Thread: Trump Recovers Taxpayer Cash On A $1 Billion Obama-Backed Solar Plant That Was Obsolete

  1. #1

    Trump Recovers Taxpayer Cash On A $1 Billion Obama-Backed Solar Plant That Was Obsolete

    The Department of Energy reached a settlement Thursday to recover $200 million in taxpayer funds from a loan the Obama administration distributed in 2011 to finance a $1 billion solar power plant that was deemed obsolete before it could officially go online.

    The settlement between DOE and Tonopah Solar Energy must now be approved by a bankruptcy court, the Las Vegas Review Journal reported.

    The DOE provided a $737 million loan to Tonopah in September 2011 for the purposes of financing the $1.1 billion Crescent Dunes Solar Energy Project in Nevada. The agency disbursed funds for the plant in 2011 and 2013 before the project experienced problems requiring improvements, rendering the Crescent Dunes obsolete by 2015, Bloomberg reported in January.

    Thursday’s settlement will allow the DOE to recoup a portion of the $424 million Tonopah owes. The plant experienced an outage in 2016, forcing a shutdown lasting from October 2016 to July 2017, the Wall Street Journal Editorial Board reported in January. Another outage occurred in April 2019 and is ongoing.

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    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

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    Those who learn from the past are condemned to watch everybody else repeat it

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  3. #2
    Whoopee. The Billions he handed out to Gates’ companies, it’s just another little bone to keep you cheering for him.

    And then there’s this, which makes 1 billion seem like pocket change:

    Oh, btw, in case you forgot, Trump is a NWO NY Lib. So there’s that.
    “The right to life is the source of all rights—and the right to property is their only implementation. Without property rights, no other rights are possible. Since man has to sustain his life by his own effort, the man who has no right to the product of his effort has no means to sustain his life. The man who produces while others dispose of his product, is a slave.”

    Read the RPF trolls' playbook here (post #3)

  4. #3
    This is great news and an important tiny step towards cutting spending, eliminating big gov waste and put a dent in $6 Trillion 2020 deficit/$26 Trillion debt mountain.

    Before this money gets spent on some swamp project/cronie bailouts, give it back to taxpayers or pay towards today's other expense of $2.1 Billion WARP speed vaccination costs.

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