In my previous post regarding the California solar energy plant, I discussed the federal program through which they are trying to receive a loan for the plant. Now the government is discussing whether they should continue this loan program or cancel it. Many of the president's aides are telling him to not discontinue it but there are some other concerns. The main argument is over a wind farm in Oregon. There are concerns that the corporate backers are only contributing about 10%, whereas the government would be providing over 65% and they don't feel this is a fair trade (WSJ). The government claims that they have no plans to discontinue the program and that they just plan to streamline it.
I felt this loan program, which pushed for advancement of of renewable energies, is a great program. I appreciate when the government tries to move our country towards better forms of energy. It saddens me to see that they are going to cut back with it, when oil projects aren't stopping. This will also have a wide effect on the industry as a whole, as it hurts the advancement towards renewable energies and possibly fosters positive energy for the oil and gas industry.
http://online.wsj.com/article/SB10001424052748703506904575592843603174132.html?mod=WSJ_Energy_leftHeadlines
Yes, it seems that the ones that have the money (oil companies at the moment) are the ones that hold us back. We need more capital flowing into the future. Start-ups need more help they simply cannot compete with Exxon. Plus, it's not like the government doesn't provide aid to and provide tax breaks for big oil companies. Regardless, it is a great thing that solar plant in California does seem likely.
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