Unbelievable! Obama Administration Pulls Promised Loan Guarantee from Cape Wind

Here’s the letter.  This is crazy.

The Obama administration has been pouring loan guarantees on the nuclear industry.  The same Department of Energy that is denying Cape Wind financing support is extending the licenses of dangerous 40 year old nuclear power plants.  The Obama Administration just took steps to expand drilling on federal land and offshore leasing blocks.

And the 20 year old Cape Wind project still can’t get federal financial help.

Here’s the statement issued by Cape Wind:

The Department of Energy (DOE) has notified Cape Wind that our application is not one that can be completely processed by the program’s September 30 deadline and consequently is ‘on hold’ until further resources can be made available to the program. As a DOE Loan Guarantee would substantially reduce costs to Massachusetts electricity consumers, Cape Wind will continue to pursue the matter. Cape Wind intends to secure project financing expeditiously so that the United States does not fall even further behind Europe and China where governments have established offshore wind development as an important national priority worthy of support. Cape Wind is the nation’s first offshore wind farm to be fully approved and to be granted a commercial lease by the Department of Interior. Cape Wind will create a thousand new jobs and help encourage a supply chain to support this growing industry that will bring new manufacturing jobs to our country and revitalize port facilities. America’s abundant supply of offshore wind power stands ready to provide significant amounts of energy to our coastal populations and contribute to cleaner air, a healthier environment, greater energy independence, mitigating climate change, and a more hopeful energy future.

As Cape Wind points out, the US is falling further and further behind the rest of the world in offshore wind power technology.  There is now no question that the Obama administration is a pro-fossil government that only gives lip service to renewable energy.