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Hyperion exploring federal financing
Johnson, Thune confirm they've met with company
WASHINGTON -- Representatives from Dallas-based Hyperion Resources approached both South Dakota senators in recent weeks in an effort to secure federally backed loans to finance the proposed oil refinery and power plant in Union County.
U.S. Sen. Tim Johnson, D-S.D., said he met recently with representatives from the company, which is proposing to build a $10 billion oil refinery near Elk Point, S.D., about its plans.
"They came to me a couple weeks ago and I balked at the $10 billion," Johnson said, referring to the energy center's estimated price tag. "Then they went to see Sen. (John) Thune"... [Dave Dreeszen, business editor, "Hyperion Exploring Federal Funding," Sioux City Journal, 2008.04.23].
Now if Hyperion's planned refinery really can pass the environmental muster to qualify for federal loans intended to support green projects, then great. But remember: even Big Oil admits it can't get by without the government (i.e., us, and our tax dollars) helping it along. What a strange free market we have.
Is Senator Johnson implying that "he balked" and Senator Thune welcomed them with open arms? That's what his little snippet infers. This is the same US Senator that is shedding his responsibilities and committees because he can't handle this job anymore. Let's be honest. This project is in Johnson's backyard, politically, so I'll be surprised how his views mature as he gets lobbied by friends and constituents who live in the Vermillion area.
ReplyDeleteIf Hyperion is producing "low - sulfur" fuels and Tar Sands oil is one of the highest in sulfur content, where does the sulfur go? They can say their going to be environmental all they want but it doesn't mean much unless they tell us how they will deal with a dirty raw product.
ReplyDeleteFrank J
Anon 9:58~
ReplyDeleteI don't think that's Johnson's inference at all. The only person inferring anything about Thune's reaction is you. Do you really need to work that hard to find a way to find fault with Senator Johnson (and sneak in an unsubstantiated jab about his ability to "handle" his job)?