NewEnergyNews: MORE HOUSE SOLYNDRA PROPAGANDA/

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YESTERDAY

THINGS-TO-THINK-ABOUT WEDNESDAY, August 23:

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    Founding Editor Herman K. Trabish

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    Thursday, August 09, 2012

    MORE HOUSE SOLYNDRA PROPAGANDA

    New Solyndra Report Claims Loan-Guarantee Investigations 'Uncovered A Political Saga' p> 3 August 2012 (Solar Industry)

    “…[The Solyndra Failure from the] U.S. House of Representatives' Energy and Commerce Committee…[details] its investigation into failed thin-film module manufacturer Solyndra and its $535 million loan guarantee from the U.S. Department of Energy (DOE)…[It] was released shortly after the committee approved the No More Solyndras Act, which was sent to the full House for consideration…

    “…[T]he Republican-led committee reiterates several of its key points that frequently came up during the 18-month Solyndra investigation, which was led by Committee Chairman Fred Upton, R-Mich., and Oversight and Investigations Subcommittee Chairman Cliff Stearns, R-Fla.”

    A Republican-led non-partisan evaluation of the 96% successful DOE Loan program found no malfeasance.

    “According to the report, President Barack Obama and his administration were aware of Solyndra's shortcomings from the beginning, but sought to make Solyndra a success for public-relations purposes…The report also alleges…the administration ‘knowingly violated the law’…[because it restructured] the loan guarantee and ‘subordinated taxpayers' interest to the interests of private investors’…[who] made substantial donations to Obama's re-election campaign.

    “…DOE officials overseeing the loan guarantee approval process have repeatedly denied…[the charges]…DOE and [others] have stated that the primary reason for Solyndra's failure was that its thin-film technology was well-suited to effectively compete in an era of suddenly-inexpensive polysilicon and manufacturing cost reductions for crystalline PV…[The report charges DOE should have better anticipated the market]…[ Energy and Commerce Committee Ranking Member Henry A. Waxman, D-Calif., and Oversight and Investigations Subcommittee Ranking Member Diana DeGette, D-Colo.] released a statement challenging the committee majorities' conclusions…”

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