Leslie Brooks Suzokamo of the St. Paul Pioneer Press penned this story about the latest attempted resurrection of Excelsior Energy’s failed Iron Range power plant. As we’ve observed here before, the beleaguered decade-old start-up has proposed a natural gas plant now instead of its originally-planned coal gasification plant. Give the story a read.
Founded by a family of lawyers and lobbyists with Iron Range roots, this Twin Cities suburban-based company successfully won a vast amount of taxpayer and local Iron Range funding in the early 2000s, some of which went into the process of getting more public money through law firms with lobbying wings, the rest into a permit process that has hit obstacles with the company’s ever-changing plans. The latest story paints a picture of a company on its last legs, now trying to compete on the open power market in economic conditions unlikely to provide them sanctuary.
My feelings are summed up in the Kirk Lyttle news graphic that accompanies the story:
Only I’d argue that the creature should be holding bags of money, because Excelsior hasn’t actually produced any electricity, nor is such a thing likely.
Speak Your Mind