Energy Department Revives Fuel-efficient Vehicle Loan Program - March 26, 2015 - Wsj.com

[WilliamH]

Need more electricity for 1000s metric tons more of aluminum?

How about more wind and solar power? nah, wind production tax credit killed (but BigCarbon stills gets, without question, $Bs/year in untouchable tax breaks, subsidies).

... much easier when you live in Wash DC metro.

Another win for BigCorp's $Ms.

Will the Repugs fake OUTRAGE about the govt picking winners and losers? (even though govt is VERY GOOD at picking winners).

So speaks someone who wants the Hill Country to cut down on water use so they have enough for the River Walk and golf courses.
Duh!!!!!

 

[JEBar]

So speaks someone who wants the Hill Country to cut down on water use so they have enough of the River Walk and golf courses.
Duh!!!!!

Medina Lake comes to mind

 

[Gas-Powered Awesome]

If you have money, you can borrow money. If you don't have money, the banks don't want to lend to you. That's why an ATVM loan guarantee is so important -- if there's no risk, the banks will loan. If it's risky, they either charge a lot more in interest or -- they won't loan.

Except here the .gov is acting like a bank and giving ATVM loans to a company that already has $2,000,000,000.00 in cash in the bank and doesn't need a loan. That completely perverts the purpose of the ATVM program.

 

[Gas-Powered Awesome]

Wood, that's what we need ... I once owned a Marcos, 3/4" marine plywood chassis, fiberglass body. No fatalities in a Marcos, ever. Wood absorbed crash energy. Light weight, sustainable ... wood, I tell you, think wood! (I do every morning!)

How dare you promote the murder of trees, you insensitive clod! What we need is cars made of sustainable bamboo!

 

[satx]

So speaks someone who wants the Hill Country to cut down on water use so they have enough for the River Walk and golf courses.
Duh!!!!!

You're FOS

 

[WilliamH]

You're FOS

Guess the truth hurts?
Or can't deal with the idea that you shouldn't be growing green grass lawns in a semi arid region?

 

[Johnny Acree]

First loan of the rejuvenated loan program meant to promote new ideas goes to an established, giant, global corporation with $24 billion in revenue and nearly $2 Billion in cash-on-hand!

Makes sense, they need the loan.


Wait, no it doesn't. Corporate welfare.

I would be very surprised if Alcoa had actual "cash" on hand. The "cash" is most likely invested earning a higher return than the cost of borrowing on the open market. If they had to do it on their on, they could, but would rather use borrowed cheap money than borrowed expensive money.
At least that's what I think.

 

[Gas-Powered Awesome]

I would be very surprised if Alcoa had actual "cash" on hand. The "cash" is most likely invested earning a higher return than the cost of borrowing on the open market. If they had to do it on their on, they could, but would rather use borrowed cheap money than borrowed expensive money.
At least that's what I think.

In corporate accounting, "invested" money that is readily convertible to cash is cash.
So yes, they have 2,000,000,000.00 in actual "cash" on hand. Go read their financials.

Of course they are smart for using low-interest taxpayer money to made a big capital investment. They'd be stupid not to use it.

What's stupid is that a loan intended for high-risk investments that advance vehicle technology is instead being used to make a low-risk loan to a highly-profitable mega-corporation that doesn't need it so they can get even richer at the taxpayers' expense.

 

[goofyone]

....
What's stupid is that a loan intended for high-risk investments that advance vehicle technology is instead being used to make a low-risk loan to a highly-profitable mega-corporation that doesn't need it so they can get even richer at the taxpayers' expense.

I do have to clarify that the ATVM loan program was never intended just for high-risk advanced technology projects nor was the ATVM intended to provide funding for advanced technology research and development.

The purpose of the ATVM Program is to originate, underwrite and service loans to eligible automotive manufacturers and component manufacturers to finance the cost of (i) reequipping, expanding or establishing manufacturing facilities in the United States to produce advanced technology vehicles (ATVs) and qualifying components and (ii) engineering integration performed in the United States of ATVs and qualifying components.

http://energy.gov/sites/prod/files/2015/02/f19/ATVM_Guidance_for_Applicants_11.4.14.pdf

 

[Johnapool]

My letter to U.S. Energy Secretary Ernest Moniz:

Dear Dr. Moniz,
I am writing concerning a little car being designed by a man named Paul Elio. His company, Elio Motors, has applied for a loan under the ATVM program.
I urge you to personally check out this company as well as the concept of a practical motor vehicle that may reach as high as 84 mpg.
I feel vehicles like the Elio have the power to reduce our national fuel consumption, therefore, our dependency on foreign oil.
I believe in the concept deeply enough that I have pre-ordered an Elio, hoping for a success story.
Thank you for finding a second in your busy schedule to investigate the Elio.
John A. Pool