The Value of Filling Out Federal Forms -- $370 Million in Loans -- The Bakken

Link here to Bismarck Tribune.

Several North Dakota electric cooperatives have received U.S. Department of Agriculture loans to modernize electric generation and transmission systems.

Rural Utilities Service loans (some numbers rounded) were awarded to:

• Mountrail-Williams Electric Cooperative: $54 million; improve 520 miles of powerlines
• Minnkota Power Cooperative: $309 million; 260 miles of high voltage transmission line
• McLean Electric Cooperative: $10 million; 100 miles of powerlines

Background:

“This is a rapidly growing co-op mostly caused by development brought on by the Bakken oil field,” said Dennis Hill, general manager of the North Dakota Association of Rural Electric Cooperatives.

I think the loans total about $370 million but there were a lot of zeroes to keep track of. 

Unlike loans to Solyndra and 35 other faltering/bankrupt green energy companies receiving federal loans, I assume these loans will be paid back. In full. On time. With a smile.