Just when you thought the Loan Program Office in President Obama’s Department of Energy
might put its unused electric auto loan money back in the Treasury
coffers, the government investor-crats are going to try to find some
takers for the dollars of disrepute that have been tainted by the likes
of inoperative, nearly bankrupt Fisker Automotive and Vehicle Production Group.
You might remember when we last heard about the condition of this program, it had trouble finding takers for the remaining $16.5 billion or so it had been allocated. According to a March report produced by the Government Accountability Office that reviewed DOE’s loan programs, those who might otherwise be interested in the financial help cited things like bureaucratic red tape, reporting requirements, uncertainty about credit subsidy costs, lengthy review times, and the expenditure of time and resources for an uncertain outcome as obstacles. But what stood out most – especially in the Advanced Technology Vehicles Manufacturing loan program – was that many electric vehicle entrepreneurs were deterred by bad publicity surrounding previous loans.
http://nlpc.org/stories/2013/08/29/new-energy-secretary-wants-waste-more-money-ev-loans
You might remember when we last heard about the condition of this program, it had trouble finding takers for the remaining $16.5 billion or so it had been allocated. According to a March report produced by the Government Accountability Office that reviewed DOE’s loan programs, those who might otherwise be interested in the financial help cited things like bureaucratic red tape, reporting requirements, uncertainty about credit subsidy costs, lengthy review times, and the expenditure of time and resources for an uncertain outcome as obstacles. But what stood out most – especially in the Advanced Technology Vehicles Manufacturing loan program – was that many electric vehicle entrepreneurs were deterred by bad publicity surrounding previous loans.
http://nlpc.org/stories/2013/08/29/new-energy-secretary-wants-waste-more-money-ev-loans
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