Congressional committee unleashes new argument against energy loans
Alyne Roemerman, copy editor
March 19, 2012
Filed under NEWS
The House Oversight and Government Reform Committee will release a new staff report in their investigation of the Energy Department’s loan programs at a hearing scheduled for Tuesday, March 20 where the energy secretary will speak.
The report claims that the Energy Department has ignored staff objections to the recipients of certain loans intended to go to “innovative projects” according to The New York Times. The staff did not feel these projects represented new technology. Committee chairman Rep. Darrell Issa of California released a statement discussing the report.
“The Department of Energy manipulated analysis, ignored objections from career professionals and strategically modified loan evaluations in order to force project funding out the door,” Issa said.
However, those in support of the Energy Department argue that Congress did not require the loans to go to projects developing new technology according to The New York Times.
This argument is part of the Congressional committee’s attempts to prove that the Energy Department’s funding for Solyndra, a now-bankrupt solar company, was only a perk for a Solyndra investor who raised funds for Obama’s campaign.