Government pours a billion taxpayer dollars down the toilet

[aociswundumho]

The US government spent $1.1 billion on carbon capture projects that mostly failed

The GAO has said that federal agencies have spent $684 billion on coal plant carbon capture and storage (CCS) projects that have mostly failed.

www.engadget.com

Coal should be going obsolete because renewable energy is becoming cheaper, but the US government is keeping it afloat with the promise of capturing carbon emissions and storing them underground. Now, the Government Accountability Office (GAO) has said that federal agencies spent $684 billion on coal plant carbon capture and storage (CCS) projects that have mostly failed, Gizmodo has reported. It also spent $438 million on other three CCS industrial projects, two of which were cancelled.

This is what the political left wants more of - they want government allocating capital. The problem is that government has a horrific track record when it comes to allocating resources, as our friend Elon Musk explains in this 43 second video clip:



But Musk doesn't tell you why government is so bad at capital allocation. For that, we need uncle Milty:



Back to the article:

In the end, the GAO recommended more congressional oversight for DOE expenditures on CCS. "Absent such a mechanism, DOE is at risk of expending significant funds on CCS demonstration projects that have little likelihood of success."

LOL, who tf is stupid enough to believe "more congressional oversight" would change anything?

 

[Jkca1]

Let me speak for all of us; We agree with you. The Govt. has a mostly horrible track record of spending our money. Now what are YOU going to do about it?

 

[Nomad4Ever]

Let me speak for all of us; We agree with you. The Govt. has a mostly horrible track record of spending our money. Now what are YOU going to do about it?

Have you not read his posts before? He's very consistent.

His solution would be that the government only protects property, for the common defense, and possibly some basic services like the right to a lawyer.

 

[bave]

Learn the difference between B and M.

It is 684 MILLION not BILLION

 

[aociswundumho]

Learn the difference between B and M.

It is 684 MILLION not BILLION

That's a typo, but they got it right in the rest of the article.

I agree it is annoying that people don't check for dumb errors like that.

 

[StillBallin75]

"The government is so terrible at allocating resources! Terrible I tell you!" says the richest man in the world who had the government put billions of dollars worth of subsidies in his pockets and then proceeds to hoard capital while screwing his own workers.

 

[code1211]

The US government spent $1.1 billion on carbon capture projects that mostly failed

The GAO has said that federal agencies have spent $684 billion on coal plant carbon capture and storage (CCS) projects that have mostly failed.

www.engadget.com

This is what the political left wants more of - they want government allocating capital. The problem is that government has a horrific track record when it comes to allocating resources, as our friend Elon Musk explains in this 43 second video clip:



But Musk doesn't tell you why government is so bad at capital allocation. For that, we need uncle Milty:



Back to the article:



LOL, who tf is stupid enough to believe "more congressional oversight" would change anything?

There is nothing that cannot be made more expensive and more hurtful by the intrusion of the government into the execution of the ideas, plans and tasks.