The Government Energy Loan Program Is Now In The Black

Posted by | November 14, 2014 13:45 | Filed under: Contributors Mark Quincy Adams Opinion Politics Top Stories

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Who can’t forget the incessant whining by Conservatives about the Department of Energy’s loan program designed to help out renewal energy start-ups? They tried to paint the government’s support of them as a waste of money and another example of the war on Coal and Big Oil. But guess what? They initial losses have been wiped out and the loan program is now profitable. Let’s just drop this hashtag here.#ObamasFault.

 Taxpayers are not only benefiting from some of the world’s most innovative energy projects… but these projects are making good on their loan repayments,” Peter Davidson, executive director of the Loan Programs Office, said in an interview on Wednesday. Davidson took over the loan program in May of 2013.

Under the program, the DOE issues a loan guarantee for about 50 to 70 percent of a project’s cost. The borrower then secures a loan from either the U.S. Treasury or a private lender.

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Copyright 2014 Liberaland
By: Mark Quincy Adams

A proud 'pragmatic progressive' Mark Quincy Adams has been a political
talk show host and prolific pontificator since 1992. Find him on Facebook and Twitter @politicalglutton

16 responses to The Government Energy Loan Program Is Now In The Black

  1. mea_mark November 14th, 2014 at 13:51

    That is really good news for a program that was designed to, and expected to, lose money. It is the cost of research and development. To have success where there is an actual profit is fantastic. Thank you progress.

    • FrankenPC . November 14th, 2014 at 14:26

      A progressive energy policy at its finest!

    • StoneyCurtisll November 14th, 2014 at 14:58

      Now…
      Back to Benghazi~!!

  2. mea_mark November 14th, 2014 at 14:51

    That is really good news for a program that was designed to, and expected to, lose money. It is the cost of research and development. To have success where there is an actual profit is fantastic. Thank you progress.

    • FrankenPC . November 14th, 2014 at 15:26

      A progressive energy policy at its finest!

    • StoneyCurtisll November 14th, 2014 at 15:58

      Now…
      Back to Benghazi~!!

  3. tiredoftea November 14th, 2014 at 14:54

    Something tells me that the right wing media will gloss over this uncomfortable little fact.

  4. tiredoftea November 14th, 2014 at 15:54

    Something tells me that the right wing media will gloss over this uncomfortable little fact.

  5. StoneyCurtisll November 14th, 2014 at 14:57

    This is really good news…
    Unless you happen to be a republican.

  6. StoneyCurtisll November 14th, 2014 at 15:57

    This is really good news…
    Unless you happen to be a republican.

  7. edmeyer_able November 14th, 2014 at 15:27

    Great another surplus the repuplican congress can blow.

  8. edmeyer_able November 14th, 2014 at 16:27

    Great another surplus the repuplican congress can blow.

  9. tracey marie November 14th, 2014 at 16:17

    The cons seem to forget all the subsidizes, backed loans, tax breaks and deferralls that the oil/gas/coal companies have enjoyed for over 100 years

    • mea_mark November 14th, 2014 at 16:28

      And they definitely ignore all the damage that has happened to the environment because of it.

  10. tracey marie November 14th, 2014 at 17:17

    The cons seem to forget all the subsidizes, backed loans, tax breaks and deferralls that the oil/gas/coal companies have enjoyed for over 100 years

    • mea_mark November 14th, 2014 at 17:28

      And they definitely ignore all the damage that has happened to the environment because of it.

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