I'm thinking that if this was such a great idea, private investors would have been all over it.......

January 20, 2012

(CNSNews.com) - Two days after President Barack Obama blocked
construction of a major oil pipeline, his administration is touting its
efforts to expand domestic production of renewable energy.
Agriculture Secretary Tom Vilsack announced Friday that his agency
has approved a $25-million conditional loan guarantee to build a
55,000-square-foot biorefinery plant in Iowa.
The Fiberight facility will produce cellulosic ethanol by converting
municipal solid waste and other industrial pulps into "advanced
biofuels," the news release said.
The project is expected to create 38 jobs and save 16 jobs. By
contrast, expansion of the Canada-Texas Keystone XL pipeline would
create thousands of jobs; some estimates say as many as 20,000.
"This project is another step the Obama administration is taking to
support production of a new generation of renewable fuels, in order to
build an active biofuels and biomass production industry in every region
of the country," said Vilsack. "Investments in renewable energy create
jobs and reduce America's dependence on foreign oil."
The USDA news release notes that Americans import "just over half
(60%) of our transportation fuels," and it says the U.S. "can do more to
meet the President's goal of reducing our net fuel imports by
one-third by 2025."
Proponents of the Keystone XL pipeline agree that the U.S. can do more to reduce fuel imports.


“Until this pipeline is constructed, the U.S. will continue to import
millions of barrels of conflict oil from the Middle East and Venezuela
and other foreign countries who do not share democratic values
Canadians and Americans are privileged to have,” said Russ Girling,
TransCanada’s president and chief executive officer, in a statement on Wednesday announcing that his company will reapply for a Keystone XL permit.
At Secretary Vilsack's direction, USDA says it is working to develop
the national biofuels industry, producing energy from non-food sources
in every region of the country.

USDA says it is “conducting
and encouraging research into innovative new energy technologies and
processes, helping companies build biorefineries, and supporting
farmers, ranchers, and businesses taking risks to pursue new
opportunities in biofuels.”
USDA's Biorefinery Assistance Program was authorized by Congress under the 2008 Farm Bill.


Under the conditional commitment, Fiberight must meet specified conditions before the loan guarantee can be completed.