An interesting article that questions the "scandalous" elements of the Solyndra news that is providing the latest platform for attacking the Obama
administration is titled: "How Conservatives and Big Oil are Using a Phony Scandal to Undermine Obama, Clean Energy, and Government Itself"
written by Dave Johnson:
It's no surprise that conservative & oil interests are pushing "deceptive and destructive" stories about Obama and clean energy.
Solyndra was partly backed by the conservative Walton family (Walmart), and received a loan, which was originally pushed by the Bush
When the economy went south, Solyndra could not compete with subsidized Chinese companies. Solyndra went bankrupt and this is being used by
conservatives and oil interests as a "platform to attack green energy and the idea of green jobs in general, solar power in particular, President
Obama as always, stimulus funding and the idea of developing a national strategic industrial policy to push back on China and others…"
The article follows FOX News promoting this story as a "scandal" to its jump into the "mainstream," being picked up by ABC and others… It
questions the alleged "ties" of the Obama administration to Solyndra, and looks at the "newly uncovered emails" that have been touted to accuse
the White House of direct involvement.
The article gives reference to another article by Michael Grunwald that summarizes the entire deal titled: "Big Name Investors Behind Obama's
Failed Green Tech Bet First in Line to Recoup Losses"
"This is sure to play out as a scandal, but based on what we know so far, it shouldn’t be. Private loans go south all the time… The Obama
administration has made bets on hundreds of clean-energy companies in dozens of clean-energy sectors; some of those bets in its portfolio are bound to
David Johnson's article continues to look at the investors in Solyndra. One of the accusations made by conservatives is that an Obama donor named
George Kaiser is a major investor in Solyndra. In fact, the Kaiser Family Foundation is the investor, not George Kaiser. This is relevant because
the foundation made its investment through the investment firm Argonaut, and because the Foundation is a philanthropic organization, no individual can
profit from this investment….
On the other hand, the article raises a question about another major investor in Solyndra:
"The conservative Wal-Mart Walton Family, however, were private investors through their Madrone Capital, and at the time that the Bush administration
started pushing the Solyndra loan were in a position to peronally profit from this investment. If any accusation of an expectation of personal
enrichment obtained from political connections should be investigated, it is this one. Will the Republican House look into the connections between the
Walton family and Bush administration officials, and the Bush administrations efforts to provide loans to Solyndra?"
Finally, regarding the "loss" to the US from the bankruptcy of Solyndra, the article notes that in essence the involvement of the government "was
to help trigger the development of green-energy manufacturing in the United States, not to help individual companies." Profit for the government was
not the purpose. In fact, Johnson sees the government's loan guarantee as a success rather than a loss. He writes:
"Even though Solyndra's investors lost out our country retains the trained skilled employees, the intellectual property, the innovators funded, the
suppliers, and the factory. As components of a national effort to trigger a key strategic industry, those are all still there and in the US."