Tuesday, November 22, 2011

Another uncompetitive greenie Dem project bites dust

So we have Solyndra, whose costs have just ratcheted up again, the O administration shoving taxpayers on the hook for worker training. Oh yeah, Solyndra's suffered from uncompetitive conditions. Ha. Back home in O's Dem-run-into-the-ground-Illinois, power utilities have had enough:
Nicor Inc. is the latest natural-gas utility to throw a wrench into plans to build a massive synthetic-gas plant on Chicago's South Side. Naperville-based Nicor filed suit Nov. 14 against the developers of the project and the Illinois Power Agency, alleging, among other things, that it would be required to purchase more of the expensive gas from the plant than is permitted by the state law authorizing the project.
The lawsuit is the latest blow to New York-based developer Leucadia National Corp., which earlier this year won a hard-fought victory when the governor signed a bill that forces the state's largest gas utilities either to sign 30-year contracts to buy the output from the $3-billion coal-to-gas plant or face three rate reviews over the next six years by state utility regulators.[snip]
In justifying their moves to reject synthetic gas, Peoples and North Shore estimated that the Leucadia plant and another, similarly authorized plant Downstate would have raised the cost of gas to their customers by about 9% in the decade following the plants' construction.
What's the effect of this cumulative Dem stupidity? Green meets blue state, bleeds red ink...bleeds Americans dry.

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