In a move eerily reminiscent of the failed Solyndra, President Joe Biden's Department of Energy has doled out massive loans in green energy initiatives to corporations.
To plump the program, the president made a flashy appearance at Solyndra's factory in Fremont, California, just months prior to the 2010 midterms, saying that investing in clean energy is "The right thing to do for our environment, it's the right thing to do for our national security, but it's also the right thing to do for our economy."
An investigation completed years later found that Solyndra had provided the government with "False and misleading information during the application process" and "That the actions of certain Solyndra officials were, at best, reckless and irresponsible or, at worst, an orchestrated effort to knowingly and intentionally deceive and mislead the Department." It also discovered that the Energy Department's "Due diligence efforts were less than fully effective. the Department missed opportunities to detect and resolve indicators that portions of the data provided by Solyndra were unreliable." According to another report, one of the private investors backing the project was a big Obama fund-raising bundler.
Founded in 2005 to pump up green energy with low-interest loans to environmental entrepreneurs, the Department of Energy's Loan Programs Office has languished for a decade and a half - practically mothballed during the Trump years - until 2021, when Biden assumed office.
The Republican chair of the House Energy and Commerce Committee, Rep. Cathy McMorris Rodgers, called Biden's loan program "Solyndra on steroids" and vowed vigorous oversight of these huge loan outlays.
The hardworking people of this country are paying for record high energy and food prices because of President Biden's war on American energy.
They cannot afford for him to waste hundreds of billions of dollars on a political agenda that forces an expensive 'green' energy transition, threatens energy reliability, increases costs, and makes America reliant on the Chinese Communist Party for batteries and solar panels.
https://spectator.org/solyndra-on-steroids-bidens-latest-green-energy-scheme/
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