Your Tax Dollars at Work… Canadian Firm Will Receive up to $50 Million Stimulus for Nevada Solar Plant That Employs Two People
Posted by Jim Hoft on Friday, May 11, 2012, 5:11 AM
It’s an Obama world.
Canadian solar firm gets $50 million in Stimulus cash.
(eBridge)
A Canadian firm will receive up to $50 million in Obama Stimulus cash for a Nevada solar plant that hires two people. And, the energy produced at the plant costs three times as much as energy from natural gas.
The Nevada Journal reported:
The company behind the recently opened Silver State North solar plant is eligible to receive up to $50 million in federal tax credits under the Obama administration’s “stimulus” legislation, even though the plant created only two full-time jobs.
According to a Department of Interior memo, Enbridge Energy Partners, a Canadian-based company with extensive energy holdings in the U.S. that purchased the Southern Nevada plant from Arizona-based First Solar, “can apply for payments of up to 30 percent of the eligible costs of the project — approximately $50 million.”
The payments are available through the 1603 Program, a special exemption in the Treasury Department created by the American Reinvestment and Recovery Act to “reimburse eligible applicants for a portion of the cost of installing specified energy property used in a trade or business or for the production of income.”
The program states that the “1603 payment is made after the energy property is placed in service; a 1603 payment is not made prior to or during construction of the energy property.”
Silver State North began service on Monday, May 7. Larry Springer, a community relations manager at Enbridge, confirmed to Nevada Journal the company intends to file a 1603 application for reimbursement.
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bigkahuna commented:
More money flushed down the toilet to another country…..If we could only do the same to Obama !
Not to mention the future money that gets flushed since it costs 3 times as much
mg4us commented:
No surprise. . .
What do you expect from a man who flunked college math so to Black History as a major!
The reason Obama uses “I” so often is because he is:
Incompetent, Inept, Inexperienced, and I-radical
Even Bill Clinton agrees. . Obama is wrong for our Country
http://www.nypost.com/p/news/national/bill_blockbuster_an_amateur_XJHYdaV5LT1vpr5I39IKrN
mg4us commented:
When OBAMA is not wee-weed up. .
he remembers IT’s THE ECONOMY, STUPID!!
http://www.weeklystandard.com/blogs/obama-sometimes-i-forget-magnitude-recession_644355.html?nopager=1
bigL commented:
they have to spend some money to install first. Then they get the cash. So what and where is the
installation?
Taqiyyotomist commented:
The heist continues unabated.
In somewhere around 12 months, this company will “go bankrupt”.
And the money will have been stolen. And nobody will go to prison for the intentional setup of a front company designed from the beginning to “go bankrupt”.
scituate_tgr commented:
…and the looting continues right in front of our face.
Joe College commented:
This pretty well sums it up. Scroll down for pic..
http://www.rushlimbaugh.com/daily/2012/05/10/we_ve_improved_on_time_s_new_cover
Rich commented:
Forward!!! 2 jobs at a time and fifty million dollars a pop!! Woo Hoo!!
Finncrisp commented:
The steno pool is too busy taking dictation for today’s edition to cover this story. It should be a scandal, but, what the heck, it’s Friday, do we have to deal with this today?
befuddled commented:
Let’s not talk about this, I want to talk about struggling,Ivy League college coeds who are unable to afford $9 contraceptives,Trayvon, or the most pressing issue of our time–gay marriage.
Tim in Cali commented:
Hmm…let’s see here
1. Fake “War on women”
2. Fake GF’s
3. Fake war on contracetion(birth control)
4. Fake Global Warming/ Climate Change
5. Fake Stimulus Package
6. Fake war on dogs
7. Fake Global Warming Companies spending untold amounts of $$
8. Fake bullying charges
I’m starting to see a pattern here….
proof commented:
I heard this reported from a Reno radio station this AM, and they said it would create two (2) permanent jobs.
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