Yeah, yeah; but heres the REAL bombshell - the CRONYISM. ............ In addition to its two DOE loan guarantees, Abengoa is the beneficiary of significant support from the U.S. Export-Import Bank (Ex-Im), which finances the purchases of U.S. exports by foreign governments and corporations. Ex-Im approved two loans totaling more than $33 million for the company last year. The financing supported the use of American-made goods by Abengoa subsidiaries in Spain and South Africa. The year before, Ex-Im awarded the company an additional $152 million in taxpayer-backed loans. Observers noted that Abengoa and Ex-Im shared a board member at the time: New Mexico’s former Gov. Bill Richardson (D.). It was one of a litany of political connections that Alhalabi says have paid dividends for the company.
Posted on: Sun, 03 Aug 2014 03:20:00 +0000
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