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Originally posted by popsmcgee
Originally posted by beezzer
For those that don't know, Solndra is the solar panel plant that Obama touted as bringing in new green jobs.
So much for the green jobs, the thing that happened, (from reading an article)
China can make these solar panels cheaper. Simple as that.
Either way, the money was wasted.
It was not solndra's money, so I doubt they really cared..
The week ahead: Solyndra probe
by Ben Geman - 09/12/11 08:00 AM ET
House Republicans will continue their probe of federal financing for the failed solar energy company Solyndra.
The California company’s shutdown and bankruptcy despite receiving a $535 million federal loan has troubling political overtones for the Obama administration, emboldening GOP attacks on the stimulus and efforts to create “green jobs.”
House Energy and Commerce Committee Republicans, who say the White House has not been forthcoming with documents about the federal aid, have scheduled a hearing Wednesday on Solyndra and the Energy Department’s loan-guarantee program.
Two company executives, including CEO Brian Harrison, have been invited to testify, although reported FBI raids on the company leave their status unclear. Officials with the White House Office of Management and Budget and the Energy Department have also been invited.
The witness list was not confirmed late Friday afternoon.
GOP Widens Solyndra Probe, May Subpoena White House
Controversy surrounding solar panel manufacturer Solyndra’s recent bankruptcy filing just won’t go away, and could imperil the White House. The company’s federal stimulus loans are at the center of a widening investigation into clean-energy technology funding by House Republicans, and may lead to subpoenas of White House records.
U.S. Representative Cliff Stearns (R-FL), chairman of the House Energy & Commerce Committee’s Subcommittee on Oversight and Investigations, recently told energyNOW! that he may expand the initial investigation into loan guarantees Solyndra received from the U.S. Department of Energy to cover other clean energy companies. “We’re trying to understand how this stimulus package of $60 billion dollars is going to work,” said Stearns. “Is most of the money going to companies like Solyndra, or is it actually going into companies that will succeed in manufacturing and create jobs for this country?”
The House Energy Committee has already subpoenaed the U.S. Office of Management and Budget and Department of Energy for documents related to the Solyndra loan guarantee but is expanding its’ search to the White House. “I think the President would find it in his best interest to cooperate and give us all the information so it does not appear to be a politically oriented decision,” said Stearns. He also said the committee would issue subpoenas for documents related to the decision if President Obama blocks the request through executive privilege.
Even though many industry analysts have said the bankruptcy filing news is a byproduct of market forces, and Solyndra an acceptable contender for federal funding, Stearns feels the funding had political undertones. “It looks like the people involved in this were tied politically to the White House,” he said.
Solyndra Bankruptcy Fallout Video Link