A southeast Georgia ethanol factory that cost taxpayers $70 million has been sold at a fraction of the cost in a foreclosure sale, leaving millions of dollars in government loans unpaid.
The Courier Herald of Dublin reports the Range Fuels facility in Soperton was sold for $5.1 million. The plant was sold to biofuels firm LanzaTech.
The Atlanta Journal-Constitution reports that Range cost U.S. taxpayers $64 million and Georgia taxpayers another $6.2 million. Authorities say the $5.1 million from this weeks' sale will help offset losses suffered by the U.S. Department of Agriculture.
USDA spokesman Justin DeJong said officials are disappointed that Range Fuels did not succeed. Despite the plant's failure, he said more than 90 percent of USDA's loans are successfully repaid.
10mm Underwood Extreme Penetrators Vs Bulletproof Glass - Bearing Arms - 10mm, Underwood, Video
Katie Pavlich - WATCH: Sheriff David Clarke Takes on Cop Killer Advocate on CNN
President Obama, Commute Sharanda Jones' Sentence | RedState
The Federalist: Smoking guns in latest Hillary e-mail release? Update: Another? - Hot Air
Elon Musk’s Crony Capitalism under Scrutiny | Human Events
'More playful than anything': #BlackFair participant puts 'Pigs in a blanket' chant 'in context'
Rachel Marsden - Clinton Email Dump is Popcorn-worthy