Obama approves $25 million loan for 54 biofuels jobs

Obama says no to oil, yes to biofuels.

CNSNews.com reports,

Two days after President Barack Obama blocked construction of a major oil pipeline, his administration is touting its efforts to expand domestic production of renewable energy.

Agriculture Secretary Tom Vilsack announced Friday that his agency has approved a $25-million conditional loan guarantee to build a 55,000-square-foot biorefinery plant in Iowa.

The Fiberight facility will produce cellulosic ethanol by converting municipal solid waste and other industrial pulps into “advanced biofuels,” the news release said.

The project is expected to create 38 jobs and save 16 jobs. By contrast, expansion of the Canada-Texas Keystone XL pipeline would create thousands of jobs; some estimates say as many as 20,000…

Read the entire CNSNews.com report.

3 thoughts on “Obama approves $25 million loan for 54 biofuels jobs”

  1. Compared to 20,000 jobs at no cost. You see oil – a biofuel – isn’t renewable only because its production and transportation has been shut down. Here’s a thought: Give the pipeline company $25 million, you can wrap the pipe in plastic, get a lot more fuel, and you’re still ahead in your quest to reduce dependence on foreign oil while increasing employment and lowering the pain for the people least able to afford it. That last one is the Obama raison d’etre – n’estce-pas? (I didn’t really think so.)

  2. Georgia has had its experience with celluslosic ethanol in the collapse of Range Fuels with loss of hundreds of millions of tax dollars. We don’t need biofuels because we have a cheap substitute called petroleum. This will be another boondoggle.

    Has anyone demostrated producing ethanol as a cellulosic source for mass production? Obama will bankrupt the country.

    I am FOIA

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