The Department of Energy today announced the Loan Programs Office has terminated its conditional commitment for the Grain Belt Express Phase 1 project.
WASHINGTON— The Department of Energy (DOE) today announced the Loan Programs Office (LPO) has terminated its conditional commitment for the Grain Belt Express Phase 1 project, a high-voltage direct current (HVDC) transmission line intended to connect wind and solar capacity across Kansas and Missouri. The conditional commitment, which would have provided a taxpayer-funded loan guarantee of up to $4.9 billion dollars, was issued by the Biden administration in November 2024 – one of many conditional commitments that were rushed out the door in the final days of the Biden administration.
After a thorough review of the project’s financials, DOE found that the conditions necessary to issue the guarantee are unlikely to be met and it is not critical for the federal government to have a role in supporting this project. To ensure more responsible stewardship of taxpayer resources, DOE has terminated its conditional commitment.
DOE is conducting a review of every applicant and borrower – including the nearly $100 billion in closed loans and conditional commitments LPO made between Election Day 2024 to Inauguration Day 2025 – to ensure every single taxpayer dollar is being used to advance the best interest of the American people. This ongoing review positions LPO to move forward with a lower risk tolerance in lending practices and an uncompromising focus on expanding access to affordable, reliable and secure energy for the American people.
DOE remains focused on advancing projects that expand American energy dominance and deliver on President Trump’s commitment to lower energy prices for the American people.
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The comment about “throwing gold bricks off the Titanic” is apt. Many of the actions of the greens in the Biden administration after the Democrats lost were spite.
Nah they were just aBiden by the letter of the Law-
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Will the Grain Belt Express attempt to sue the DOE as California does everytime the fed tells California “no more boondogle support from us.”?
They can still build it, just not with OUR money.
nearly $100 billion in closed loans and conditional commitments LPO made between Election Day 2024 to Inauguration Day 2025
What the…WHAT!?
Only the most kleptocratic, corrupt zealots could
spendsteal $100 billion in 76 days. Drain the swamp.Then Concrete it over!
Keep it simple dump everything that’s not natural gas or nuclear. An hour per Project should be more than enough time.
Hydro is real. Coal is still needed. In place geo-thermal can stay as it is already built.
Correction: Your point was proposed projects. Still, include coal.
Want to capture C02? Make more beer.
But then you couldn’t drink it.
Sure you can! Pop that top and release all the beautiful, life giving C02! Win/win.
It is simply impossible to spend large sums of money quickly, and still do it efficiently. When the amounts are measured in the $ trillions, it’s even worse, as corruption will exceed even poor efficiency. Even worse than all that, is turning the process over to existing bureaucracies. The effectiveness of the spending will be close to zeros, and, of course, very negative to the economy.
Corruption was the goal. Swamp the regulators and managers so that they don’t have time to review everything.
If they took the money they have pissed away on renewables and such and spent it on fossil fuel and nuclear our power needs would all be met easily.