How Many BioGas Plants Could You Build For A US-$1.5 Billion Loan That You Could, Sort Of, Pay Back Eventually?
May 4th, 2006 by Monkey
We’re quoting here from a recent Associated Press piece: “BISMARCK, N.D. - Buoyed by high natural gas prices, the Great Plains Synfuels Plant has paid $79 million to the U.S. Department of Energy as part of an agreement that rescued the Beulah factory from a possible shutdown”. Apparently the lignite fed plant, after two decades, has only repaid a small portion ($241 million) of the total Federally guaranteed $1.5 billion construction loan from the early 1980’s. “Low natural gas prices made the synfuels plant unprofitable, and the pipeline companies defaulted on their loans in August 1985. The Energy Department, after operating the plant for three years, sold it to Dakota Gasification in October 1988”.
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Originally by John Laumer from Treehugger on May 4, 2006, 7:34am
