Another "green energy" project has wound up costing taxpayers plenty. Range Fuels' Georgia plant, which converted wood to ethanol, got $64 million from the U.S. government and $6.2 million from the state of Georgia before it flopped. It has now been sold to a foreign firm for just $5.1 million, never having created anything close to the promised 70 jobs.
The new owner, New Zealand-based LanzaTech, has gotten its own share of federal funds: $7 million.
A Georgia Tech researcher put it simply after Range Fuels' failure.
"Government should not be in the venture capital business selecting technologies," Sam Shelton told The Atlanta Journal-Constitution.
That's exactly right.
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