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United States Department Of Energy
Latest United States Department Of Energy Items
Gambling is a risky proposition - but not when playing with loaded dice. That's what Solyndra's private investors were handed when the Energy Department guaranteed they'd have first dibs on compensation if the firm went belly up. This unfairly shifted the peril of investing in an uneconomical solar-panel scheme onto the backs of taxpayers. We're the ones stuck with the $535 million bill.
Customer contracts figure prominently in the FBI's criminal investigation of solar panel maker Solyndra LLC, which went bankrupt despite receipt of more than a half-billion dollars in federal loans, according to testimony on Monday.
The top Republican and Democratic members of a House subcommittee investigating the collapse of bankrupt solar panel maker Solyndra LLC after it received more than a half billion dollars in federal loans agreed Friday to seek the testimony of Department of Energy Secretary Steven Chu.
The chairman and CEO of a California solar energy company that sought bankruptcy protection after receiving a half-billion-dollar loan guarantee from the Obama administration has resigned.
Solargate is just the tip of the iceberg. This cliche within a mixed metaphor reflects the madness of President Obama's obsession with "green jobs." It would be bad enough if this disaster were limited to possible criminality at Solyndra, the California-based solar-panel maker that Mr. Obama stimulated with loan guarantees despite repeated internal warnings. Solyndra's Aug. 31 bankruptcy transformed 1,100 green jobs into pink slips and marinated taxpayers in $527 million of red ink.
A top Energy Department official who headed the office that awarded solar panel maker Solyndra LLC $535 million in loan guarantees is leaving the agency for a position at a Washington think tank, company officials confirmed Thursday.
Citing concerns that President Obama's "closest confidants" monitored now bankrupt solar panel maker Solyndra LLC, leaders of a House committee said Wednesday they were expanding their investigation into the failed company's more than half-billion dollar federal loan package.
President Obama said Monday he doesn't regret promoting tSolyndra as a model before the company went bankrupt.
A top Department of Energy official insisted Solyndra was "headed in the right direction."