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    Moniz Finalizes Nuclear Loan Guarantee Subsidy

    Continuing the subsidy-first mentality of today’s energy policy, Energy Secretary Ernest Moniz today announced the finalization of a $6.5 billion loan guarantee to Georgia Power and its partners, with an additional $1.8 billion pending for the Vogtle nuclear reactors, among the first being built after a 30-year dry spell in … More

    Are These Senators Regretting Their Export-Import Bank Votes?

    For some lawmakers, corporate welfare is okay, unless it hurts someone in their district. Four lawmakers from Minnesota and Michigan are up in arms over a proposed $650 million financing deal for Roy Hill, an Australian mining company. The deal, backed by the Export-Import Bank, the U.S. government’s export credit … More

    Farm Bill Wastes More Taxpayer Money on Green Subsidies

    Slapping the word rural in front of a bunch of green subsidies does not mean they’re not subsidies. But that’s exactly what the Rural Energy Investment Act section of the Senate version of the farm bill legislation does. The legislation includes direct handouts and loan guarantees for advanced biofuels and … More

    Green Energy Companies Fisker and SoloPower Struggle Despite Government-Backed Loans

    One foot on a banana peel, the other in the grave. That’s where Fisker Automotive and SoloPower find themselves, struggling for survival despite generous government handouts in the form of loan guarantees and tax breaks. Should either company take a turn for the worse, a tombstone in Heritage’s “Green Graveyard” … More

    The High Cost of Offshore Wind: Is Cape Wind the Next Solyndra?

    Opponents have called it “another Solyndra waiting to happen.” An estimated $2.6 billion offshore wind project near Massachusetts could be awarded a $350 million Department of Energy (DOE) loan guarantee and a 30 percent federal tax credit, according to recent reports. The much beleaguered 468 megawatt, 130 turbine Cape Wind … More

    Unsweetening Cronyism

    The law of supply and demand cannot be revoked. But it is being amended slightly, and we’re all paying the price. In this case, for sugar. Last year produced a bumper crop of sugar beets, which are refined (as their name would suggest) into sugar. Meanwhile, Americans have been using … More

    DOE Sitting on Taxpayer Dollars Due to Negative Publicity

    Despite billions of dollars in unused loan authority remaining under the Department of Energy’s (DOE) Loan Programs Office, negative publicity surrounding the loan guarantee programs (which offer taxpayer dollars to government-approved companies) has tampered with applications, according to a new Government Accountability Office (GAO) report. More than $51 billion in … More

    Profitable or Not, Loan Guarantee Program Is a Failure

    Representative Paul Ryan (R–WI) is receiving criticism for including two solar-generation projects in his budget plan as “failed” projects despite the fact that Mesquite Solar 1’s project in Phoenix is generating electricity and SolarReserve’s project is under construction and recently entered a contract to sell power to California’s largest utility. … More

    Green Graveyard: 19 Taxpayer-Funded Failures

    While there’s speculation over which federally supported green energy company may be the next to declare bankruptcy, plenty have already gone belly up. In one of the most extensive compilations to date, Heritage has identified 19 bankrupt green energy companies—unable to make it even with the $2.6 billion in financial … More

    Top 10 Examples of Wasteful Federal Spending in 2012

    Exotic dancers, robotic squirrels, and a reality TV show in India—your tax dollars supported all of these this year. Two reports just released—“Federal Spending by the Numbers 2012” by The Heritage Foundation and “Waste Book 2012,” a report by the office of Senator Tom Coburn (R–OK)—shed light on these and … More