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Politics : Formerly About Advanced Micro Devices
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To: steve harris who wrote (396296)7/5/2008 1:38:52 PM
From: kech  Read Replies (1) of 1576163
 
A quick check on the glorious US Synfuels Corp.

A short excerpt with a wonderful example of what happens to big government investment projects:

Before long, complaints developed over SFC's sluggish activity. The agency had initially been expected to approve up to $20 billion in financial backing of loans and product prices to reach its first milestone: the production of 500,000 barrels of crude-oil equivalent daily by 1987. As of July 1985, however, SFC had committed only $1.2 billion toward three projects--and they would yield less than 2 percent of that 1987 production target Congress had set. Then there were scandals, charges of lavish spending and mismanagement by SFC officials (SN: 8/4/84, p. 74).

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