Two environmental groups are asking Wyoming regulators to revoke a key permit for Two Elk Power Co.’s proposed “waste coal” power plant in northeast Wyoming — a project that has been in the works for about 15 years with no construction on the actual power plant.
Speculators have struck gold (aka taxpayer gushing subsidies) again. How do they pull this off over and over?First, about a decade ago, the promoters of the uneconomic Two Elk power plant in southern Campbell County persuaded county and state officials to dedicate a huge portion of the state’s eligibility for tax exempt low interest revenue bonds totallying $445-million to the project.Next, the project received permits to construct from the Wyoming Department of Environmental Quality.Next, the owners got extensions of time on various bonds and permits.Next, they built a highway to nowhere; this is apparently to be taken as evidence that this speculative venture might actually be built. There is actually pavement out there, leading to sagebrush flats.Meanwhile the project has no market and no ability to transmit any power which it might generate.Environmentalists can relax; this plant is not generating greenhouse gases, although its promoters are.Everyone thinks it’s dead. Unalterable Fact: Only public utilities, not promoters, can build power plants.