ANOTHER GREEN ENERGY RIP OFF!

Dear Conservatives,

Have you heard about KIOR?

KIOR was a start up company that developed a technology to transform plant waste into biofuel that could be used to power regular vehicles.

The alternative-fuel company promised to change the energy world, but this promise turned out to be little more than a dream.

They are now facing class action lawsuits and an SEC investigation after being accused of misleading investors about its biofuel production targets.

The problem with KIOR was that it was never able to make the jump from small-scale to large-scale commercial production.

So why does this matter for you and me?

Because, like so many of the green energy boondoggles these days, taxpayer money was involved.

The state of Mississippi loaned KIOR $75 million to help the company get started of which $69.4 million hasn’t been paid back.

Regardless of where you pay your taxes, this is a perfect example for why governments shouldn’t be picking winners and losers in the energy sector.

If a business needs help from government loans to get off the ground, then chances are it’s not efficient enough to stand on its own two feet in the free market.

Yet, while government officials play venture capitalist with your money by putting resources into inefficient green energy boondoggles like KIOR, Fisker, and Solyndra, they also continue to deny access to our affordable and abundant energy in the form of natural gas, oil, and coal!

This sordid affair is just another example proving that government and business don’t mix. At AEA, we’ll keep on fighting to ensure a bright future for our great country fueled by the power of the free-market.

Click HERE to read more about KIOR’s troubles from the American Energy Alliance’s American Products. American Power. initiative.