What Debt Ceiling? Biden Admin Gears Up to Blow $400 Billion on Soft Green Energy Loans | Watts Up With That? (wattsupwiththat.com)

Solyndra mark two? Despite government debt of $31 trillion, and a looming debt ceiling standoff with the Republican Congress, the Biden DOE has chosen now to revive its soft loans for green agenda.

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Posted by Boyd Carter

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  1. Quoting from the article:

    “Why do I describe these loans as “soft” loans? In my opinion, if the projects being financed had any commercial merit, they wouldn’t need to go to the government for money.

    Right now, today, the Republicans have a chance to prevent at least some of that $400 billion of US taxpayer’s money being wasted on virtue signalling green trash projects. Let us hope the Republicans stand their ground during debt ceiling negotiations.”

  2. quoting from the article:

    “Last year’s vast Inflation Reduction Act grew the previously moribund office’s loan authority to $140bn, while adding a new program worth another $250bn in loan guarantees to retool projects that help cut planet-heating emissions. Which means that Shah, a debonair former clean energy entrepreneur and podcast host who matches his suits with pristine Stan Smiths, oversees resources comparable to the GDP of Norway: all to help turbocharge solar, wind, batteries and a host of other climate technologies in the US.

    With a newly divided Congress stymieing any new climate legislation in the foreseeable future, Shah has emerged as one of Washington’s most powerful figures in the effort to confront global heating. Shah says such focus on him is “hyperbolic” but the White House is pinning much of its climate agenda on an office that barely had a dozen people when Shah joined in March 2021. It now has more than 200 staffers as it scrambles to distribute billions in loans to projects across the US.”

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