But before he had a chance to get a loan to develop the land, the crisis hit.
Tesla is using its loan to develop the Model S, an all-electric sedan due in 2011 and priced below $50,000 after its own tax credit.
[B1.] The $25 billion that the Energy Department set aside for loans to develop electric-powered cars has yet to be allocated.
On Wednesday, the department of energy announced that auto companies would be able to apply as early as next week for the $25bn in low-interest loans to develop more fuel-efficient vehicles that Congress and George Bush recently approved.
It also appears unlikely that the Carmichael mine will get a slice of the government's $5bn plan of loans to develop northern Australia, with Frydenberg telling Insiders "this wouldn't be a priority project for us".
The meeting would come just hours after the Energy Department said late Wednesday that the auto companies would be able to apply as soon as next week for $25 billion in low-interest loans to develop more fuel-efficient vehicles.
The trade case started in 2005, when the United States complained to the World Trade Organization that European countries had given Airbus more than $20 billion in questionable aid, including $15 billion in low-interest loans to develop its jetliners.
When making loans to developing countries, the various aid institutions stress good agricultural practices, along with basic sanitation, infrastructure and communications.
Already the provider of more loans to developing countries than the World Bank, according to research by the Financial Times, China finances numerous agricultural, hydropower, housing, railway, roadworks and mining projects in the region, particularly in Cambodia, Laos, Burma, Vietnam and the Philippines.
And, if you tweak the details a bit, it's also the story of what happened in the early eighties; that time, it was loans to developing countries that got the banks in trouble.
