Big loan assists another country

President Barack Obama’s administration has slashed hundreds of millions of dollars out of research programs to find ways to burn coal more cleanly at power plants. Apparently the president does not believe devising ways to ensure Americans can continue to obtain low-cost electricity generated from such plants is wise use of taxpayers’ money.

He would rather pour billions of dollars into “alternative” energy projects.

Including one in Chile.

Obama announced this week the United States wants to help Chile build Latin America’s largest solar power plant. To that end, the U.S. Overseas Private Investment Corp. has approved a $230 million loan guarantee for the project.

But that is peanuts. During the past year, the corporation has provided $900 million in loan guarantees for “renewable” energy projects in Chile.

So Obama cannot spare money to save low-cost electricity for Americans – but he can find hundreds of millions of dollars to help Chile.

No one in Congress has suggested stopping the craziness. But you probably guessed that was the case.