September 27, 2011
THOUGHT BY NOW THEY'D REALIZE, AIN'T NO WAY TO HIDE YOUR LYIN' AYES:
The birthing of Solyndra (Dana Milbank, September 26 , 2011, Washington Post)
What McConnell neglected to mention is that Solyndra was cleared to participate in this loan-guarantee program by President George W. Bush's administration. He also did not mention that the legislation creating the loan-guarantee program, approved by the Republican-controlled Congress in 2005, received yes votes from -- wait for it -- DeMint, Hatch and McConnell.
This doesn't mean that Bush is to blame for Solyndra or that the Obama administration should be absolved. Obama, whose administration gave the company the loan guarantee, deserves the black eye that Republicans have given him over the half a billion dollars squandered on the company. But the Republican paternity of the program that birthed Solyndra suggests some skepticism is in order when many of those same Republicans use Solyndra as an example of all that is wrong with Obama's governance.
"Loan guarantees aim to stimulate investment and commercialization of clean energy technologies to reduce our nation's reliance on foreign sources of energy," Bush's energy secretary, Sam Bodman, announced in a press release on Oct. 4, 2007. The release said the Energy Department had received 143 pre-applications for the guarantees and narrowed the list down to 16 finalists -- including Solyndra. Bodman said the action put "Americans one step closer to being able to use new and novel sources of energy on a mass scale to reduce emissions and allow for vigorous economic growth and increased energy security."
Bush's Energy Department apparently adjusted its regulations to make sure that Solyndra would be eligible for the guarantees. It hadn't originally contemplated including the photovoltaic-panel manufacturing that Solyndra did but changed the regulation before it was finalized. The only project that benefited was Solyndra's.
The loan-guarantee program for these alternative energy companies, in turn, was created as part of the Energy Policy Act of 2005 -- sponsored by Rep. Joe Barton (R-Tex.), who has been a leader in the congressional probe of Solyndra's ties to the Obama administration.
Posted by oj at September 27, 2011 4:05 PM