Tell the Wyoming Business Council: Don't loan $300 million to a dirty energy company
A Texas energy company wants Wyoming taxpayers to shell out for a risky $300 million loan -- the largest in state history -- in order to build a dirty facility for converting coal into gasoline.1
The Wyoming Business Council is currently considering the loan and will make a recommendation to Governor Mead and the state legislature, who will then decide whether or not to approve it.
Spending Wyoming taxpayers' money on a massive dirty energy project would be a huge mistake -- and the Wyoming Business Council needs to see an overwhelming show of public opposition to the loan proposal.
Tell the Wyoming Business Council: Don't loan taxpayer money to dirty energy companies.
Converting coal into gasoline is an incredibly wasteful and dirty multi-step process. Perhaps that's why this ill-advised project has been in the works for seven years now without managing to secure the necessary financing.
The core of the Wyoming Business Council's mission is to "focus public and private efforts to build a strong job creation base in the new economy."2 But the proposed coal-to-gasoline plant near Medicine Bow would lock Wyoming into the old, dirty energy economy for decades.
And that's only if the project works out. The last time the State of Wyoming provided a similar loan under the same program, the company went bankrupt and failed to pay $150,000 in interest.
The company requesting the loan is Houston based DKRW Advanced Fuels, which is partially owned by the second largest coal company in the United States, Arch Coal.3
Wyoming taxpayers shouldn't be on the hook for a risky and expensive dirty energy project. After studying the proposal, the Wyoming Business Council should do what is best for Wyoming by recommending that Governor Mead and the state legislature reject the loan.
Tell the Wyoming Business Council: Don't loan taxpayer money to dirty energy companies.
1. DKRW seeks $300M Wyoming loan to fund coal-to-gas project, Casper Star Tribune, December 13, 2011
2. About the Wyoming Business Council, Wyoming Business Council
3. Arch Coal Acquires Interest in DKRW Advanced Fuels, August 24, 2006
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The petition reads:
"Wyoming taxpayers shouldn't be on the hook for a risky, dirty coal-to-gasoline plant. As a Wyoming resident, I urge you to recommend that Governor Mead and the state legislature reject DKRW Advanced Fuels' loan request."
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