The Obama Administration, especially Vice President Biden’s office, was very gung-ho on Solyndra. Emails released to the House Energy and Commerce Committee claim the Biden team “About had an orgasm”. The venture left the taxpayer on the hook for $567 million.
While not much study was needed to approve the Solyndra loan guarantee, despite warnings, the Administration is delaying the pipeline decision. Environmentalists claim that there was a conflict of interest in the previous extensive environmental impact studies. This was enough to kick the can down the road and have the State Department IG conduct and investigation into any wrongdoing. This could possibly delay the decision beyond the 2012 election.
The Obama Administration couldn’t rush into the Solyndra loan guarantee fast enough, even though it was seen as a terrible investment and experts thought the company would go bankrupt by August 2011, which it did.
A series of emails provided to the House Energy and Commerce Committee from individuals tied to Solyndra offer striking characterizations about running strategy with the White House to secure assistance for the now-bankrupt solar energy firm.
Emails among George Kaiser, head of the George Kaiser Family Foundation; Ken Levit, the executive director of the Foundation; and Steve Mitchell, who manages Argonaut Private Equity and was a member of Solyndra’s board; show that Vice President Joe Biden’s office were very gung-ho.
“They about had an orgasm in Biden’s office when we mentioned Solyndra,” reads a Feb. 27, 2010, email from Levit to Mitchell. A follow-up email from Mitchell to Levit later that day responds with: “That’s awesome! Get us a (Department of Energy) loan.”