Yes, it is a huge scandal and the list of characters involved, all Obama's contributors, is growing. Obama's Energy Secretary keeps pouring money into "green" favorites. Tonopah Solar Energy recently received a federal government $737 million loan guarantee wile Sempra Energy received a $330 million loan guarantee. When completed, Sempra will provide 45 permanent jobs at a cost of $1.1 billion.
At the same time, The Energy Information Administration estimates that new natural gas-fired plants will create electricity at a cost of $63.10 per megawatt hour hour compared to Obama and his green's favorites - solar thermal plants and wind - which cost $243.20 and $311.80 per megawatt hour.
Obama's Energy Secretary, Chu says, "If we want to be a player in the global clean energy race, we (taxpayers) must continue to invest annotative technologies, that enable commercial-scale deployment of clean, renewable energy like wind and solar."
We have a government policy in this country to always follow the leaders like World-Com, Enron, Adelphia Global Crossing and banks and corporations to big to fail and Obama Democrats. Now we have Solyndai, a billion dollar cost or more to tax-payers and the private sector vendors who will not be paid. Plus a good likelihood that others will follow like FireFly here in Peoria.
The liberal media has not nor ever will, report the actual total loss to all involved in the "burning out" of can't fail Firefly. Peoria County would have had a greater loss if the hadn't used the Keystone Loan Fund.
Where did the Keystone Loan Fund come from? Guess - the near bankrupt State of Illinois who graciously turned it over to Peoria County.
Leave innovation to the private sector, big government. Just stop the over-burdening regulations and get out of our private sectors way. Our government is ill- equipped to predict the industries of the present, much less the future.
Sure, follow China, who may have had or has huge losses in solar and wind government backed projects never reported to the outside world, after all that is where our government is getting their money.
Some of the information on my addendum to the Tea Party release comes from the WSJ. The Wall Street Journal, the best source for accurate information of any printed media in the U.S.A.
A man named Steven Spinner, who bundled together over $500,000 in donations for Barack Obama in 2008 and was rewarded with a cushy Energy Department gig, has been exposed for lobbying the White House on behalf of Solyndra despite the fact that his wife was working for the law firm representing the now-defunct company!
The White House was eager to approve an ill-advised loan to the solar energy company, in part due to Spinner's prodding. And after the Obama administration has so richly provided for him and his wife, campaign finance documents show Steven Spinner is again bundling over $500,000 for Obama's reelection campaign!
This corrupt you-scratch-my-back-I'll-scratch-yours attitude is what turned Washington into the cesspool it is, and it's exactly the kind of corruption that Barack Obama ran against in 2008. In addition to Spinner's pay-for-play shenanigans at the expense of taxpayers, the executives of Solyndra TOOK THE FIFTH AMENDMENT WHEN TESTIFYING TO CONGRESS!