Like a small, recalcitrant child, you always have to keep a watchful eye on the federal government. You never know what kind of crazy idea they’ve got in their back pocket. In a fresh burst of overly enthusiastic stupidity, the U.S. Energy Department is currently reviewing nine applications for companies seeking $4.8 billion in clean-energy loan guarantees.
We ALL know how this story ends. And it ain’t pretty. But you know the federal government’s favorite motto: If at first you don’t waste enough taxpayer money, waste, waste again!
The last time the Department of Energy issued a loan or loan guarantee was September 2011, when its authority under a stimulus-financed program expired.