Oversight Hearing: How Obama’s Green Energy Agenda is Killing Jobs!

by Rona Fried How Obama’s Green Energy Agenda is Killing Jobs is the title of Darrell Issa’s (R-CA) Congressional oversight hearing, taking place today. Issa is Chief of Investigations for the House GOP and the lead investigator of what’s turning into the Solyndra scandal, named after the young solar company that had the nerve to go bankrupt after receiving a federal loan guarantee under the American Recovery Act (Stimulus Bill). Solyndra filed bankruptcy on Sept. 6 after receiving $535 million in US loan guarantees since 2009. Republicans pounced on the bankruptcy, says the Hill, arguing the Obama administration rushed to approve the loan guarantee without subjecting it to adequate oversight. The Dept of Energy (DOE) points out that although it’s inevitable that some companies that receive government support will fail, the reality is that out of the $2 billion the agency’s handed out, Solyndra is the only company to do so. What happened to Solyndra? Solyndra’s solar panels are installed at over 1000 facilities worldwide. It was widely lauded for its unique, cylindrically shaped CIGS solar modules designed for large commercial rooftop installations. Sales revenue rose 2000% in three years and venture capital firms invested $1 billion. Young solar companies […]

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