Wait! What? The Ivanpah solar electric generating plant owned by Google and renewable energy giant NRG borrowed $1.6 Billion from the US gov. to build the solar plant. Now they want a federal grant of $539 million to pay on the loan. What? Lets see... If I go to the bank and borrow $50,000 to buy a car I owe $50,000. If I then go back to the bank and say give me $20,000 to pay my loan. Wouldnt that mean Id owe $70,000 to the bank? Sure it would but not if you are the federal government and Ivanpah solar. Nope, instead of Ivanpah owing more money it will owe less... $539 million less. How can this be? Simple, you just stick the American taxpayer with the loss of $539 million. BTW, Google and NRG will get all the profits from operating Ivanpah solar and the taxpayer will get all the bills. Is this a great country or what? If you were wondering how successful the Ivanpah plant has been? It produced more than 250,000 megawatts of power from January to September. Sure it was supposed to produce 1,000,000 megawatts so only one-fourth of what was promised (close enough for government work) but it did fry about 30,000 birds in its 800 degree sun beams. BTW, Google and NRG gave huge sums of money to Obama and the DNC... not that this had anything to do with it... anything at all.... move along people, nothing to see here. The country is in the best of hands.
Posted on: Sat, 08 Nov 2014 16:56:24 +0000
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