How Conservatives and Big Oil are Using a Phony Scandal to Undermine Obama, Clean Energy, and Government Itself
Continued from previous page
Also, from the DOE post, the reason it is important for government to do this:
Our loan program catalyzes American innovation and private sector investment behind promising companies -- so that American workers have a chance to compete against China and other countries that much more heavily subsidize clean energy companies.
The loan was 1.3% of the DOE portfolio.
One day after the federal government refused to bail out Solyndra, the Fremont-based solar company announced it was filing for bankruptcy and shedding most of its 1,100 workers.
According to a memo released Monday by the House Energy and Commerce Committee, officials with the Department of Energy and Solyndra entered into negotiations "in the first few weeks of August" over a proposed financial restructuring agreement, but were never able to reach an agreement.
Think Progress has an excellent timeline of the Solyndra loan guarantee: Exclusive Timeline: Bush Administration Advanced Solyndra Loan Guarantee for Two Years, Media Blow the Story
Grist has a good story laying out how conservatives are attacking green energy. See The conservative game plan on energy subsidies
Grist also looks into the Bush adminsitration's efforts on behalf of Solyndra, in, Bush admin pushed Solyndra loan guarantee for two years.
Dave Johnson is a Fellow at Campaign for America's Future , a Senior Fellow with the Institute for the Renewal of the California Dream working on progressive messaging, and a Fellow at the Commonweal Institute . He is Founder and principal author at Seeing the Forest , and a blogger at Speak Out California .