Today, a portion of the Dept. of Energy Loan Guarantee Program will expire. While that’s good news for taxpayers the trouble is far from over. If the entire program isn’t scrapped, the losses we saw with Solyndra will be the tip of the iceberg.
Another part of the program which can provide huge loan guarantees for risky projects like an $8.3 billion loan guarantee for a nuclear reactor in Georgia or reportedly nearly $2 billion for a liquid coal facility in Wyoming is still lurking. DOE is just waiting to push these pending loan guarantees out the door through the same flawed program that gave us Solyndra. If you think up to $528 million in lost taxpayer dollars is bad, just wait until taxpayers are on the line to potentially lose almost 16 times that for a massive new nuclear reactor.
To learn more about the two sections of the DOE Loan Guarantee Program, please see our detailed fact sheets below.
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