Major Aviation Biofuel Refinery Fail
Our rulers have decreed that the CO2 required for plants to live makes the weather too warm. They have called for zero emissions. Pursing this objective is difficult when it comes to air travel. At least we have aviation biofuels:
A much-hyped but yet-to-be-completed aviation biofuels refinery in southern Oregon appears to be headed for foreclosure after backers failed to make principal and interest payments on some $300 million in debt.
Red Rock Biofuels launched efforts nearly a decade ago to build the cutting-edge facility in Lakeview but repeatedly ran into obstacles, even as project skeptics questioned its feasibility.
Feasibility is not usually a prime concern when it comes to green energy. Since we cannot possibly prevent the climate from fluctuating anyway, it is the noble intentions that count.
The project has now accrued an additional $56 million in interest owed to private investors who bought bonds to fund the project…
This is why so much green energy investment is by the federal government rather than private. When the feds run low on cash because green energy is not economically viable, they can just print some more.
Not that taxpayers aren’t taking it on the chin too:
Its development was supported by a $75 million funding award from the Department of Defense; fuel purchase commitments from FedEx and Southwest Airlines; more than $2 million in infrastructure improvements funded by the town of Lakeview and Business Oregon; and about $300 million in tax-exempt economic development bonds issued in 2018 through the state of Oregon.
Some saw the disaster coming:
Skeptics have long maintained that it was a technological unicorn, relying on a fuel production process developed in the 1920s in Germany that has never been successfully deployed at scale.
Gary Hughes of Biofuelwatch weighs in:
“We don’t think it’s feasible,” he said of the Red Rock project. “Someone may come in and try and keep it going, but in our view they’d be just trying to access more public money.”
That’s the game, all right. It helps to be a Democrat donor. Those involved are advised to donate to Senator Ron Wyden (D-OR), who says he supports the project because it will prevent the climate from changing.
Red Rock Biofuels [was] touted as an economic home run for the remote southern Oregon town and an environmental boon for the aviation industry, which has long sought a means to reduce its massive carbon footprint.
Anyone who thinks of green energy as economically beneficial needs to lay off the Kool-Aid.
As for the aviation industry reducing its harmless carbon footprint, I have a more practical idea. Why don’t we capture a UFO and persuade the aliens to tell us how they make their vehicles go?
On a tip from Steve T.
YOUR SUPPORT IS APPRECIATED
Donations buy time to produce more content. If you enjoy this site, please consider donating through Cash App to $moonbattery or through PayPal by clicking the button below:
[…] post Major Aviation Biofuel Refinery Fail appeared first on […]