tim said:
morekaos said:
I have no problem paying taxes. I hate it when everyone jumps on the parabolic train and accuses anyone who gripes about taxes as if they don't want to pay any at all. That's not the case. Of course we need some taxes to cover some of the things you describe. My beef is magnitude and the efficiency of taking my money and squandering it wastefully then demanding more and more. I've had about enough of that.
I have heard many others who claim they are a self-made man and don't want the govt to take any of it. I lumped you in with them. I read your post talking about Collectivism vs Individualism and people being selfish and such as leading that way. We can agree that we should never stop asking our government to be more efficient and to waste less.
Its wasteful crap like this that drives me crazy. It is true that the road to ruin is paved with good intentions...or a bunch of pompous self-righteous do-gooders who funnel our hard earned (in this case another $1.6 BILLION) tax dollars down the rat hole. Thanks you very much!!!
Taxpayers Are Footing Bill for Solar Project That Doesn?t Work
Here?s the story so far, Ivanpah:
?Is owned by Google, NRG Energy, and Brightsource, who have a market cap in excess of $500 billion
?Received $1.6 billion in loan guarantees from the Department of Energy
?Is paid four to five times as much per megawatt-hour as natural-gas powered plants
?Is paid two to three times as much per megawatt-hour as other solar power producers
?Has burned thousands of birds to death
?Has delayed loan repayments
?Is seeking over $500 million in grants to help pay off the guaranteed loans
?Burns natural gas for 4.5 hours each morning to get its mojo going
Brightsource, which is privately held, is owned by a virtual who?s who of those that don?t need subsidies from taxpayers and ratepayers.
In spite of all this, Ivanpah has fallen woefully short of its production targets. The managers? explanation for why production came up 32 percent below expected output was the weather. In addition to raising questions about planning for uncertainty, it is not all that clear how a nine percent drop in sunshine causes a 32 percent drop in production.
More bizarrely, the natural gas used to get the plant all warmed up and ready each day, would be enough to generate over one quarter of the power actually produced from the solar energy. Sorry, let?s not be haters.
The problem for Ivanpah?s customers (California power utilities) is that they planned on all those solar watt-hours to meet California?s renewable power mandates, which require that renewables produce a large and rising fraction of California?s electricity. That is why they pay so much more for Ivanpah?s output than for conventionally powered electricity.
Breaching their contracts with these California utilities threatened to shut down Ivanpah. More likely than permanently shutting Ivanpah down, would have been a change of ownership at a price that came closer to reflecting reality.
But this would have been bothersome for Ivanpah?s investors and the Department of Energy?s ridiculous Section 1703 Loan Program, so the California Public Utilities Commission saved the day (for the fat-cat owners, of course, not for actual the electricity consumers) by granting the company an extension to meet the production targets.
The best part of the ruling is the section on the cost?it?s pretty succinct.
Here it is in its entirety:
PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA
But, hey, Ivanpah?s plant is a shiny new technological marvel. That?s what counts, right?
http://dailysignal.com/2016/03/29/taxpayers-are-footing-bill-for-solar-project-that-doesnt-work/