(American Political Report)—A recent Department of Energy (DOE) venture, aimed at capturing carbon emissions from coal plants, has been labeled a “financial boondoggle” and a “disaster” by industry experts. The project, which received nearly $1 billion in government funding, was intended to pioneer a new method of carbon capture and storage (CCS) but ultimately ended in failure.
In 2011, the U.S. Department of Energy (DOE) under former President Barack Obama issued $1.6 billion in loan guarantees to finance the Ivanpah Solar Power Facility, a green energy project that consists of three solar concentrating thermal power plants in California.
The project was led by Southern Company at its Kemper County energy facility in Mississippi. Despite significant federal investment, the initiative was terminated in 2017 after it became clear it would not achieve its goals. Instead of pioneering a new path for clean coal technology, the project resulted in substantial financial waste.
Energy expert Bernard Weinstein from Southern Methodist University criticized the project, saying, “This was a financial boondoggle from the start.” He pointed out that the technology was not commercially viable, and the enormous costs associated with it far outweighed any potential benefits.
Another critic, Marlo Lewis from the Competitive Enterprise Institute, described the project as “a disaster” and highlighted the DOE’s poor judgment in continuing to fund such ventures. “The DOE should not be in the business of picking winners and losers in the energy sector,” Lewis argued, suggesting that market-driven solutions would be more effective and efficient.
The project’s failure has reignited debates over government investment in technology that lacks proven commercial application. Critics argue that taxpayer money should not be risked on projects where success is uncertain, especially when alternative, more established technologies exist for reducing emissions.
Defenders of the DOE’s approach, however, maintain that innovation in energy technology inherently involves risk. They argue that without such investments, breakthroughs in cleaner energy could be stifled, potentially leaving the U.S. behind in global efforts to combat climate change.
The Kemper project’s failure adds to a growing list of costly government-backed energy projects that have not met expectations, raising questions about the effectiveness of such expenditures. As the U.S. continues to navigate its energy policy, especially in the context of climate change, the lessons from Kemper could influence future decisions on where and how public funds are allocated in energy innovation.
Article generated from legacy media reports.
The Biggest Threat to Your Retirement Is Actually a Very Good Thing
When you look at the headlines today, you’ll see experts in the retirement industry warning about big threats to your financial security:
- De-dollarization and the rise of BRICS
- Soaring national debt
- Unstable interest rates
- Weakened U.S. dollar
All of these are real concerns. But they aren’t the biggest threat to your retirement savings. The true risk isn’t political, monetary, or global.
It’s longevity.
Why Longevity Is the Silent Threat
For most of human history, the problem was the opposite — life expectancy was short, and few people even reached retirement. Today, thanks to medical advancements, healthier lifestyles, and better living conditions, people are living longer than ever before.
And while that’s a wonderful thing, it comes with a financial catch: Your retirement account has to last far longer than you might expect.
- A 65-year-old couple today has a 50% chance that one of them will live to 90.
- Some projections suggest that many of us will live well into our 90s, even 100+.
- This means your nest egg may need to stretch not for 15 years, but 25, 30, or even 40 years.
That’s where the real danger lies: running out of money before you run out of life.
The Retirement Equation Has Changed
While market volatility, debt crises, or central bank policies may feel like the scariest threats, they’re temporary storms. Longevity, however, is a structural shift. Every extra year of life is another year of expenses, another year of inflation erosion, and another year of financial pressure.
If your retirement plan doesn’t account for longevity, you could face tough choices later in life — downsizing, working when you’d rather not, or becoming financially dependent on others.
How to Take Control
The good news? Longevity is a blessing — as long as you’re prepared for it. With the right planning, your retirement savings can work for you instead of against you. The key is learning how to protect your wealth, outpace inflation, and ensure your savings grow even as you live longer.
That’s why our friends at Augusta Precious Metals created a free resource to help you get started:
👉 Get Instant Access to the report, “How to Take Full Control of Your Financial Future”
This brief report will show you practical strategies to safeguard your retirement from the biggest threat of all — the one that comes from the gift of living longer.
Don’t let longevity catch you unprepared. Take the steps today to secure tomorrow.