Solyndra times five: What’s up with the $2.65 billion in federal loans to Abengoa?
Watchdog.org discusses with William Yeatman the potential for energy giant Abengo to go bankrupt, and the impact of this on taxpayers.
“Potentially, we’re looking at a huge hit,” said William Yeatman, senior fellow specializing in environmental policy and energy markets at Competitive Enterprise Institute and critic of the government’s loan program promoting green businesses. “The total amount of these loans is something like five times bigger than what Solyndra got.”
An Abengoa default “would be a conspicuous failure,” Yeatman said. “Potentially, we’re looking at billions of dollars in taxpayer losses.”
Read the full article at Watchdog.org.