By Karl Gotthardt Canadian and Military Issues Editor
The Energy Department and the White House have come under fire for providing a $535 Million loan guarantee for a failing green company. E mails received and released by the minority Democrats of the House Commerce and Energy Committee indicate that the White House was warned that President Obama should not visit Solyndra.
“A number of us are concerned that the president is visiting Solyndra. Many of us believe the company’s cost structure will make it difficult for them to survive long term, I just want to help protect the president from anything that could result in negative or unfair press,” the e-mail said.
The debate on the viability of Solyndra also included communications between Valerie Jarrett, a close confidant of Obama and Ron Klain, former Chief of Staff of Vice President Biden. Klain advised in one e-mail that the company could go belly-up, along with other clean-technology energy ventures, by election day 2012, but that the visit looked ok.
“Some risk factors here, but that’s true of any innovative company that POTUS would visit. It looks like it is OK to me, but if you feel otherwise, let me know.”
The Bush Administration had rejected the idea of a loan guarantee for the fledgling company, yet the Obama Administration pushed ahead with it. While Democrats espouse that these e-mail prove that the loan guarantee were not political favoritism, it raises the question, why the White House would go against the advice of investors and the Office of Budget Management.
Cliff Stearns (R., Fla.), chairman of the House Subcommittee on Oversight and Investigations, said that the e-mail raise significant concern.
“People closest to the president “had direct involvement in the Solyndra mess. “The administration was fully aware of numerous red flags about Solyndra’s viability, but pressed ahead anyway in an effort to secure a policy or political victory.”
Obama’s attitude also highlighted during an interview on ABC. In the interview Obama defended the program.
“Now there are going to be some failures. Hindsight is always 20/20. It went through the normal review process and people thought this was a good bet.”
Based on the released e-mails, one has to ask why Obama thinks people thought it was a good bet. $567 Million have been spend on the program and there are revelations on similar green energy waste daily. The red flag that should be raised for the people is that the loan guarantee was put on ice by the Bush Administration, just to be cranked up shortly after Obama took office. This was either political pay back or the actions of a President who is stuck on ideology. You be the judge.