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November 7, 2011
Green company gets DOE loans ... and an Obamacare subsidy
Topics: Political News and commentariesWe're fast-learning that Obama administration funding of "green" companies, financial scandal, and conflicts of interest ... go hand in hand. However, this one has a new twist. It turns out that NextEra Energy, Inc. not only enjoys two partial loan guarantees from the Department of Energy (DOE), but the company also benefits from a little known provision in Obamacare that subsidizes health insurance for early retirees:
According to Department of Health and Human Services (HHS) records, NextEra Energy has received $1,754,457.60 in funding for the health insurance of its retirees -- funding provided through the Early Retirement Reinsurance Program (ERRP), a program enacted through Obamacare and criticized as a bailout for unions and government entities.And did I mention that NextEra Energy is led by a member of President Obama's jobs council?The federal government provides that health insurance subsidy in addition to partial guarantees of over $2 billion in loans to a subsidiary of NextEra Energy. NextEra Energy Resources LLC owns a reported 50 percent stake in a project that DOE supports with a $1.46 billion partial loan guarantee which will create 15 permanent jobs. The LLC also benefits from the partial guarantee of an $852 million loan for another project, estimated to create 47 permanent jobs.
Posted by Hyscience at November 7, 2011 2:14 PM
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