Politics

/

ArcaMax

Editorial: Energy Department playing loose with taxpayer cash

Editorial Board, Las Vegas Review-Journal on

Published in Op Eds

Nevadans have a familiarity with the Department of Energy’s bureaucratic fumbling. See: Yucca Mountain. A new audit of the agency now provides more fodder for Elon Musk’s cost-cutting initiative.

Last month, the Office of the Inspector General released an Energy Department overview for fiscal 2024. It found $1 billion in wasteful and ineffective spending. That included $814 million in “questioned, unsupported and unresolved costs” and $122 million that could have been “put to better use.”

In addition, the Biden administration and congressional Democrats, in an effort to spread around green handouts to favored special interests, greatly expanded the department’s loan authority from $17.2 billion in 2021 to $400 billion today. “There is no precedent in the department for this level and pace of financing,” auditors note. “Many of these loans are designed to promote innovation by financing projects not otherwise acceptable by private equity investors — projects the markets do not view as acceptable.”

In other words, the federal government is cavalierly risking taxpayer money on unproven and risky initiatives. Remember Solyndra?

Energy Department officials are also playing fast and loose with billions in grants. The audit found that recipients include those that: “(1) have not been thoroughly vetted; (2) are not eligible under grant criteria; (3) have foreign entanglements; or (4) ‘double dip’ from different federal funding sources for the same project. Untested internal controls, lack of funding for oversight, the use of new funding vehicles and insufficient data exacerbate these risks.”

 

Another $4 billion set aside for “home energy rebate programs” — a slush fund designed to entice American homeowners into purchasing “green” appliances and the like — could be a gold mine for fraudsters thanks to a lack of oversight and a lax application process. The department has since taken “several actions … to improve fraud prevention controls.”

The auditors determined that the agency was failing to properly monitor many subcontractors. “A total of $232.5 million … require further review,” the office concluded. Energy Department officials also paid nearly $7 million to a contractor “for guaranteed energy savings without validating that the energy savings were received.”

Most of this is a drop in the bucket when the country runs $2 trillion annual deficits and struggles with $35 trillion in red ink. But as the late Everett Dirksen said, “A billion here, a billion there and by and by it begins to mount up into money.” Musk’s Department of Government Efficiency has a vast landscape to examine. The Department of Energy presents just another fertile field.

_____


©2024 Las Vegas Review-Journal. Visit reviewjournal.com.. Distributed by Tribune Content Agency, LLC.

 

Comments

blog comments powered by Disqus

 

Related Channels

ACLU

ACLU

By The ACLU
Amy Goodman

Amy Goodman

By Amy Goodman
Armstrong Williams

Armstrong Williams

By Armstrong Williams
Austin Bay

Austin Bay

By Austin Bay
Ben Shapiro

Ben Shapiro

By Ben Shapiro
Betsy McCaughey

Betsy McCaughey

By Betsy McCaughey
Bill Press

Bill Press

By Bill Press
Bonnie Jean Feldkamp

Bonnie Jean Feldkamp

By Bonnie Jean Feldkamp
Cal Thomas

Cal Thomas

By Cal Thomas
Christine Flowers

Christine Flowers

By Christine Flowers
Clarence Page

Clarence Page

By Clarence Page
Danny Tyree

Danny Tyree

By Danny Tyree
David Harsanyi

David Harsanyi

By David Harsanyi
Debra Saunders

Debra Saunders

By Debra Saunders
Dennis Prager

Dennis Prager

By Dennis Prager
Dick Polman

Dick Polman

By Dick Polman
Erick Erickson

Erick Erickson

By Erick Erickson
Froma Harrop

Froma Harrop

By Froma Harrop
Jacob Sullum

Jacob Sullum

By Jacob Sullum
Jamie Stiehm

Jamie Stiehm

By Jamie Stiehm
Jeff Robbins

Jeff Robbins

By Jeff Robbins
Jessica Johnson

Jessica Johnson

By Jessica Johnson
Jim Hightower

Jim Hightower

By Jim Hightower
Joe Conason

Joe Conason

By Joe Conason
Joe Guzzardi

Joe Guzzardi

By Joe Guzzardi
John Micek

John Micek

By John Micek
John Stossel

John Stossel

By John Stossel
Josh Hammer

Josh Hammer

By Josh Hammer
Judge Andrew Napolitano

Judge Andrew Napolitano

By Judge Andrew P. Napolitano
Laura Hollis

Laura Hollis

By Laura Hollis
Marc Munroe Dion

Marc Munroe Dion

By Marc Munroe Dion
Michael Barone

Michael Barone

By Michael Barone
Michael Reagan

Michael Reagan

By Michael Reagan
Mona Charen

Mona Charen

By Mona Charen
Oliver North and David L. Goetsch

Oliver North and David L. Goetsch

By Oliver North and David L. Goetsch
R. Emmett Tyrrell

R. Emmett Tyrrell

By R. Emmett Tyrrell
Rachel Marsden

Rachel Marsden

By Rachel Marsden
Rich Lowry

Rich Lowry

By Rich Lowry
Robert B. Reich

Robert B. Reich

By Robert B. Reich
Ruben Navarrett Jr

Ruben Navarrett Jr

By Ruben Navarrett Jr.
Ruth Marcus

Ruth Marcus

By Ruth Marcus
S.E. Cupp

S.E. Cupp

By S.E. Cupp
Salena Zito

Salena Zito

By Salena Zito
Star Parker

Star Parker

By Star Parker
Stephen Moore

Stephen Moore

By Stephen Moore
Susan Estrich

Susan Estrich

By Susan Estrich
Ted Rall

Ted Rall

By Ted Rall
Terence P. Jeffrey

Terence P. Jeffrey

By Terence P. Jeffrey
Tim Graham

Tim Graham

By Tim Graham
Tom Purcell

Tom Purcell

By Tom Purcell
Veronique de Rugy

Veronique de Rugy

By Veronique de Rugy
Victor Joecks

Victor Joecks

By Victor Joecks
Wayne Allyn Root

Wayne Allyn Root

By Wayne Allyn Root

Comics

Dave Whamond John Darkow Jack Ohman Bill Day Kevin Siers Ed Gamble