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IG Audit of Stimulus Clean Coal Investments Finds Waste



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Bloomberg Businessweek

Poor management has hampered a U.S. program to develop technology to capture carbon-dioxide emissions, the Energy Department inspector general said in a report that raises new questions about a clean-energy initiative backed by the 2009 economic stimulus.

In total, the Energy Department received $1.5 billion in the American Recovery and Reinvestment Act to invest in technology that responds to climate-change risks. Carbon dioxide is a greenhouse gas that most scientists think is making the planet hotter.

Energy officials hadn’t “adequately documented the approval and rationale” in awarding $575 million to 15 recipients, the watchdog found. Three projects won $90 million even though a review process identified significant financial and technical issues with the companies that won the aid, according to the report.

“The issues we identified occurred, in part, because program officials had not always provided effective monitoring and oversight of recipient activities,” the inspector general found.

In response, the Energy Department said it would improve program oversight.

Hmm, improved oversight. Good idea, DOE. And after only $1.5 billion was wasted.



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