So it appears that the Senate wants to give out loan guarantees to coal-gasification projects. This leads to one obvious question:
Why is the government guaranteeing loans to anyone? If their little venture fails, shouldn't they have to clean up the mess?
Giving out money for research and development is one thing. Assuming the risk for entrepreneurs is another. Note to businesspeople: entrepreneurship is risky business. If you can't take the heat, stay out of the kitchen. Don't ask Uncle Sam to turn on the A/C. I'll do your research, but I'm not your insurance agency.
Oh, did I mention that the bill is aimed at two groups - one of which consists of former Enron execs?
Apparently, to qualify for the loan, the plant must be in a "western state at an altitude of greater than 4,000 feet." Of course, there's no reason to build such plants in, say, West Virginia or Kentucky. Nope, none at all.
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