July 24, 2009
Report on "Revenue Sharing at the Great Plains Synfuels Plants
In the rarly 1980's, the Department of Energy (Department) guaranteed a $1.5 billion loan for the construction of a facility for converting coal into synthetic natural gas near Beulah, North Dakota. After about a year of operations, the developers of the Great Plains Synfuels Plant (Plant) experienced financial difficulties and defaulted on their loan. The Department repaid the lender and operated the facility from 1985 through 1988.
Topic: Management and Administration