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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: steve harris who wrote (396296)	7/5/2008 1:38:52 PM
From: kech	Read Replies (1) \| Respond to of 1576160

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). findarticles.com