Policy: Environment & Energy

Prediction: This 'Green Bank' will get tangled up with cronyism scandals

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Beltway Confidential,Timothy P. Carney,Energy and Environment,Cronyism

New York State has launched a "Green Bank" -- a government-funded financier of green-energy-type projects.

1) This is New York State.

2) This is a government agency funding private businesses.

3) This is in a sector where profits already are tied up with politics.

4) This is in a sector in which people are always promising the next miracle fuel/technology.

Therefore: I predict we get an ugly cronyism/corruption scandal related to the NY Green Bank within two years.

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