Despite Solyndra Failure, Obama DOE Wants To Quickly Spend $9.2 Billion

The DOE doesn’t seem particularly concerned if these are really good investments, but, that they get the loans done quickly

The Obama administration, defying congressional Republicans after the failure of solar-panel maker Solyndra LLC, is working to award as much as $9.2 billion in government financing to renewable energy companies before a Sept. 30 deadline.

Loan guarantees for 14 companies will close by month’s end if the projects meet government lending rules, Damien LaVera, a Department of Energy spokesman, said in an interview. “We want to get as many of these done in a way that responsibly protects the taxpayers’ interest,” he said. “If they meet conditions set out in the agreement, then they’ll close.”

Hey, I’m all for alternative energy sources, but, government should not be the ones picking and choosing winners and losers (and shouldn’t do it with other types of businesses, either), especially with taxpayer money that we’ll never see paid back from companies that will probably never show a profit. And probably will never have an actual product people will buy.

Furthermore, rather than rushing these because of the deadline, they should take their sweet time and verify that these are good investments.

Save $10 on purchases of $49.99 & up on our Fruit Bouquets at 1800flowers.com. Promo Code: FRUIT49
If you liked my post, feel free to subscribe to my rss feeds.

Both comments and trackbacks are currently closed

Comments are closed.

Pirate's Cove