Michael Giberson
The Houston Chronicle has an article on a proposal to set up a federally-chartered bank to lend billions of dollars to renewable energy projects.
Renewable energy ‘green bank’ idea takes root
By TOM FOWLER Copyright 2009 Houston Chronicle
A coalition of energy companies hopes to reinvigorate the market for funding renewable energy projects by creating a government-backed “green bank” to serve as a conduit for billions of dollars in federal loans.
Under the plan, outlined in federal legislation sponsored by Rep. Chris Van Hollen, D-Md., the bank would be an independent, wholly owned corporation of the federal government focused solely on loaning money to a range of projects deemed to promote clean energy.
I might have had something intelligent to say about the proposal, but I started laughing too hard at the phrase “independent, wholly owned corporation of the federal government”.
While I can’t imagine that the federal government is better suited than the banking and investment community in lending to renewable energy projects, my lack of an imagination is not a critique.
I really don’t have anything to say about the substance of the proposal, I just can’t get passed the “independent, wholly owned corporation” part.