Did You Know...


Director of DoE ‘clean energy’ loan program: It’s not really intended to be a job creator

By Doug Powers  •  July 12, 2012 04:37 PM

**Written by Doug Powers

In the 2010 State of the Union speech, President Obama spoke about all the jobs that were being created via the Department of Energy’s “clean energy” loan program, including plenty at Solyndra:

During his speech at the Solyndra plant in 2010, Obama said “When it’s completed in a few months, Solyndra expects to hire a thousand workers to manufacture solar panels and sell them across America and around the world.”

Joe Biden got in on the “DoE loans program creates jobs” thing as well:

The loan to Solyndra will allow you to build a new manufacturing facility and with it almost immediately generate 3000 new well paying construction jobs. And once your facility opens, there will be about 1000 permanent new jobs here at Solyndra and in the surrounding business community and hundreds more to install your growing output of solar panels throughout the country.

Here’s Energy Secretary Steven Chu announcing that a partial guarantee for an $852 million loan had been finalized to support the development of the troubled Genesis Solar Project:

“This project creates jobs, avoids greenhouse gas emissions and helps strengthen our nation’s renewable energy future.”

Chu talking up the now bankrupt Abound Solar:

“Not only is this investment creating thousands of jobs, but it is also increasing our renewable energy manufacturing capacity and putting us on the path for our future prosperity.”

There are many other examples of the administration touting job creation as one justification to keep the loan program alive.

Fast forward the tape to today:

David Frantz, who runs the Energy Department’s loan guarantee program, contradicted President Obama today by telling Congress that the program is not designed to create jobs.

“The predominance of our portfolio — and the objective, really, of the act — is to be creating large infrastructure, utility-scale projects; and, by definition, they are not a multiplier for job creation,” Frantz told a Joint Hearing on the No More Solyndras Act that would ban the loan guarantee program.

Somebody didn’t get the memo:

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus

This will give John Kerry a long face: Ayatollah Khamenei bans further negotiations with US

October 7, 2015 08:32 PM by Doug Powers


“Deal partner” backs away

Obama and Clinton once again gunning for ‘Firearm Salesperson of the Year’ trophy

October 6, 2015 09:07 AM by Doug Powers


Unwittingly good for business

Live from New York, it’s a 6-minute campaign ad for Hillary Clinton! (a Sunday open thread)

October 4, 2015 11:03 AM by Doug Powers


Satire within a satire

Joe Biden schools people who think the 2nd Amendment mentions bazookas and F-15s

October 2, 2015 02:11 PM by Doug Powers


Straw men in the crosshairs

Hey look, Obama was right… the 1980’s ARE calling

September 30, 2015 09:10 PM by Doug Powers


Anybody seen the re-set button?

Categories: 2016 Campaign, Al Qaeda, Barack Obama, Democrats, Hillary Clinton, John Kerry, War

Follow me on Twitter Follow me on Facebook