Chemtex gets its long awaited backing by the USDA. The green energy scam keeps a rolling along, and all in the name of energy independence. In the meantime, the Obama administration is trying to shutdown known, provable and efficient sources of energy such as coal and oil. But hey, what’s a boondoggle amongst our betters?
RALEIGH – A company that wants to turn grasses grown on North Carolina hog farms into motor fuel on Wednesday got the federal backing it wanted before building an ethanol plant supporters think could mark a milestone in the state’s rural economy.
RALEIGH – A company that wants to turn grasses grown on North Carolina hog farms into motor fuel on Wednesday got the federal backing it wanted before building an ethanol plant supporters think could mark a milestone in the state’s rural economy.
The U.S. Agriculture Department said Wednesday it has approved a loan guarantee worth $99 million for Wilmington-based Chemtex International Inc., backing a larger bank loan for the $170 million project. The company plans to build an ethanol plant near Clinton in Sampson County that will convert high-energy grass varieties into 20 million gallons of ethanol a year. Production is expected to start in 2014.
There is such a high demand for this energy source, the USDA had to bribe local farmers in order to produce the grasses needed for this pie-in-the-sky project.
The company is signing up hog farms to grow the grasses on up to 30,000 acres of hog spray fields, turning that land into a new cash crop for farmers. Water used to suspend and carry hog waste is sprayed on nearly 100,000 acres of farm fields in Sampson, Duplin, and Wayne counties.
Farmers now grow Coastal Bermuda grass to soak up the water-borne nutrients, and landowners must be persuaded to switch to growing energy grasses including miscanthus and switchgrass. The USDA previously approved $4 million that will pay farmers in 11 southeastern North Carolina counties most of their costs of planting the energy grasses the ethanol plant needs.
Will Chemtex become another Solyndra? Or are they too big to fail. Time will tell how many millions or billions of dollars the taxpayers will get screwed out of.
There is such a high demand for this energy source, the USDA had to bribe local farmers in order to produce the grasses needed for this pie-in-the-sky project.
The company is signing up hog farms to grow the grasses on up to 30,000 acres of hog spray fields, turning that land into a new cash crop for farmers. Water used to suspend and carry hog waste is sprayed on nearly 100,000 acres of farm fields in Sampson, Duplin, and Wayne counties.
Farmers now grow Coastal Bermuda grass to soak up the water-borne nutrients, and landowners must be persuaded to switch to growing energy grasses including miscanthus and switchgrass. The USDA previously approved $4 million that will pay farmers in 11 southeastern North Carolina counties most of their costs of planting the energy grasses the ethanol plant needs.
Will Chemtex become another Solyndra? Or are they too big to fail. Time will tell how many millions or billions of dollars the taxpayers will get screwed out of.
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