The Energy Department Prepares For The Next Round Of Solyndra Loans

posted at 5:41 pm on April 6, 2012 by John Hawkins

Good news, everybody! A gang of government bureaucrats who couldn’t run a business if their lives depended on it are about to start shoveling billions of your tax dollars at alternative energy firms that are on track to start producing a significant percentage of America’s energy sometime around two thousand never.

The Energy Department said Thursday it expects to begin tentatively approving new taxpayer-backed loans for renewable energy projects in the coming months.

The announcement comes about seven months after Solyndra, the California solar firm that received a $535 million loan guarantee from the administration in 2009, went bankrupt, setting off a firestorm in Washington.

“The Department expects to begin issuing conditional commitments over the next several months after completing a rigorous internal and external review of each application,” Energy Department loan program chief David Frantz wrote to the top lawmakers on the Senate Energy and Natural Resources Committee.

Frantz – in the letter to committee Chairman Jeff Bingaman (D-N.M.) and ranking Republican Sen. Lisa Murkowski (Alaska) – stressed that projects receiving loan guarantees will be “subject to a robust monitoring effort to ensure that taxpayers’ investments are protected.”

He defended the loan program from GOP critics, who have alleged that the administration is wasting taxpayer money by supporting risky renewable energy projects.

“By any measure, the Energy Department’s loan programs have helped the United States keep pace in the fierce global race for clean energy technologies,” Frantz wrote.

Oh boy, we’re right in the thick of the “fierce global race” to spend money on nearly irrelevant energy sources! Do people realize that wind, solar, algae, and pixie dust powered engines only supply roughly 1.5% of our energy needs today and may NEVER be a significant source of energy? After all, there is a reason that private industry isn’t pouring investment dollars into these alternative sources of energy.

Additionally, if any of these alternative energy sources were starting to take off, the first thing that would probably happen is that the Democratic Party would oppose them. Isn’t that how it works today? Over 90% of our energy is supplied by oil, gas, coal, and nuclear power and the Left is doing everything possible to discourage the use of all of them while it funnels money in engines driven by hope and the power of love. If the government spent a lot more time trying to encourage the production of oil, gas, coal, and nuclear power and a lot less time trying to find a Solyndra that works, we’d all be better off.


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Still shiny?

Bmore on April 6, 2012 at 5:43 PM

7%?

Bmore on April 6, 2012 at 5:44 PM

Are you here?

Bmore on April 6, 2012 at 5:44 PM

Yet?

Bmore on April 6, 2012 at 5:44 PM

Posting too fast?

Bmore on April 6, 2012 at 5:44 PM

Yep.

Bmore on April 6, 2012 at 5:45 PM

Slow down.

Bmore on April 6, 2012 at 5:45 PM

Still shiny?

Bmore on April 6, 2012 at 5:43 PM

Yeap…!

Seven Percent Solution on April 6, 2012 at 5:45 PM

Still too fast?

Bmore on April 6, 2012 at 5:45 PM

Yep!

Bmore on April 6, 2012 at 5:46 PM

Mud Huts and sod houses, here the world comes….. again.

upinak on April 6, 2012 at 5:46 PM

Yeap…!

Seven Percent Solution on April 6, 2012 at 5:45 PM

How cool is that? Got to 7. Do I get a +7% for that?

Bmore on April 6, 2012 at 5:47 PM

Still too fast?

Bmore on April 6, 2012 at 5:45 PM

put down the caffeinated beverage and back away from the keyboard.

upinak on April 6, 2012 at 5:47 PM

Liberals like to think they are the science party. In reality, they are the humanities party who isn’t very good at math. They stand by completely stunned that their pie in the sky logic falls apart in reality.

aniptofar on April 6, 2012 at 5:47 PM

Because Part Une was soooo successful.

Schadenfreude on April 6, 2012 at 5:48 PM

Bmore on April 6, 2012 at 5:46 PM

Somebody get a tranquilizer dart ready.

portlandon on April 6, 2012 at 5:48 PM

put down the caffeinated beverage and back away from the keyboard.

upinak on April 6, 2012 at 5:47 PM

How did you guess. Can you see my porch from up there?

Bmore on April 6, 2012 at 5:48 PM

Too bad the GOP doesn’t control the House…

… or they might cut off funds to the Energy Department until every $0.10 of the first round of loans is accounted for.

What…?

… oh.

Seven Percent Solution on April 6, 2012 at 5:49 PM

How cool is that? Got to 7. Do I get a +7% for that?

Bmore on April 6, 2012 at 5:47 PM

+7%…!

Seven Percent Solution on April 6, 2012 at 5:49 PM

Boehner cries over decision.

Schadenfreude on April 6, 2012 at 5:49 PM

Somebody get a tranquilizer dart ready.

portlandon on April 6, 2012 at 5:48 PM

I’m sorry. ; )

Bmore on April 6, 2012 at 5:50 PM

Seven Percent Solution on April 6, 2012 at 5:49 PM

; )

Bmore on April 6, 2012 at 5:50 PM

How did you guess. Can you see my porch from up there?

Bmore on April 6, 2012 at 5:48 PM

google street view.

But with all the enviro-jumping on the band wagon-mentalists, google may not be able to keep chugging along with me watching you.

upinak on April 6, 2012 at 5:50 PM

The Energy Department Prepares For The Next Round Of Solyndra Loans

TRANSLATION: the OBOZO campaign needs more kick-backs of taxpayer money from these crony capitalist /crony socialist eco-nuts, so they’ll just give them a few more billions of our tax money.

TeaPartyNation on April 6, 2012 at 5:51 PM

Di*k being a di*k, again.

Schadenfreude on April 6, 2012 at 6:02 PM

Coffee is still a better energy source then anything the Dems have come up with. We just got a brand new state of the art natural gas power plant on line here in Ga. It looks like its putting off its own weather system. It makes clouds of water vapor like nothing I’ve ever seen before. Cool looking at night with all the lights. We also are putting on line two new nuke plants. Of course we have an all red State House.

Bmore on April 6, 2012 at 6:02 PM

Bmore, do we need to install a breathalyzer lock on your PC?

Philly on April 6, 2012 at 6:02 PM

Money down the rathole yet again. Bend over, taxpayers.

Philly on April 6, 2012 at 6:03 PM

I hear there are more polar bears than everyone thought. Sounds like a renewable energy source to me. If we can get that going I can stop using my spotted owl/baby seal powered car.

rihar on April 6, 2012 at 6:04 PM

Philly on April 6, 2012 at 6:02 PM

No, I’m having afternoon coffee. Its cold here with all that global warming stuff. : )

Bmore on April 6, 2012 at 6:06 PM

Sorry Philly, its a mac.

Bmore on April 6, 2012 at 6:07 PM

President Wiley Coyote.

fogw on April 6, 2012 at 6:11 PM

Oh, then that will be a special hipster breathalyzer lock that has a zillion apps to increase its hipness. Sorry for the confusion.

Philly on April 6, 2012 at 6:11 PM

Congress needs to pull the plug on the DOE they are running amok. These “investments” are just chucking money out the window. They are simply laughing at the American taxpayer, like those GSA weasels.

dogsoldier on April 6, 2012 at 6:19 PM

Oh boy, we’re right in the thick of the “fierce global race” to spend money on nearly irrelevant energy sources! Do people realize that wind, solar, algae, and pixie dust powered engines only supply roughly 1.5% of our energy needs today and may NEVER be a significant source of energy? After all, there is a reason that private industry isn’t pouring investment dollars into these alternative sources of energy.

Yes, but can we stand to have a algae energy gap with the rest of the world?

The natural progress of things is for liberty to yield, and government to gain ground. Thomas Jefferson

Chip on April 6, 2012 at 6:22 PM

Can’t someone stop this loan for Christsakes?

Typicalwhitewoman on April 6, 2012 at 6:27 PM

The Energy Department Prepares For The Next Round Of Solyndra Loans

Filed under “What could go wrong?”

Resist We Much on April 6, 2012 at 6:32 PM

Filed under “What could go wrong?”

Resist We Much on April 6, 2012 at 6:32 PM

Or, maybe:

“It’ll be a bloody miracle if we don’t lose EVERY penny.”

Resist We Much on April 6, 2012 at 6:33 PM

You don’t understand. They’re The Smart People(TM) so their pixie dust will work. It’ll be magical.

If you don’t have faith in their pixie dust wielding, you are corrupt and evil and probably mentally ill. There are officers in training to determine which one you are and facilities to treat or re-educate or imprison you.

Kohath on April 6, 2012 at 6:37 PM

Wait! The DOE is claiming that all the waste and fraud created JOBS!!

http://www.politico.com/news/stories/0412/74916.html

FTA:

The report comes just one week after Speaker John Boehner slammed Energy Secretary Steven Chu over the claim and challenged him to provide proof of the jobs creation.

The report — conducted by DOE’s National Renewable Energy Laboratory — concludes that the program supported 52,000 to 75,000 construction and installation jobs on average over the three years it was in effect.

Only one problem with this claim, right. How many of these companies are still in business? Chu’s report is a complete fabrication.

dogsoldier on April 6, 2012 at 6:56 PM

If Sen. Lisa Murkowski were thinking straight, she would immediately forward Frantz’ letter to the Republican Chairman of the comparable committee in the House, and let THAT committee exercise a little “Congressional oversight”.

The DOE is like a gambler who lost his life’s savings on a roulette wheel in Vegas. Time for Congress to do what the casino would do–take away his credit card!

De-fund the Department of Energy!!!

Steve Z on April 6, 2012 at 6:59 PM

Is it me, or does it seem like Obama is purposely trying to hold America’s head under the water till we stop wiggling?

Guess he just wants to make sure he’s remembered for something.

Highest debt accrued
Most Marxists in a government
Race war
Islamic bomb

I’m sure there are others.

gordo on April 6, 2012 at 7:14 PM

How come no one ever proposes putting waterwheels along the Mississippi? Talk about a permanent energy source….

Who is John Galt on April 6, 2012 at 7:34 PM

Bmore
very, very impressive, you were like one away from the record.
angrymike is very proud……….;-)

angrymike on April 6, 2012 at 8:20 PM

President Wiley Coyote.

fogw on April 6, 2012 at 6:11 PM

Heh, at least Wiley Coyote was smart enough to thumb through the ACME catalog and formulate a new destined to fail attempt.

antipc on April 6, 2012 at 8:28 PM

It’s campaign season. Time to start shelling out taxpayer dollars to those who will be ‘properly appreciative’ of the current administration.

GarandFan on April 6, 2012 at 10:06 PM

Bmore
very, very impressive, you were like one away from the record.
angrymike is very proud……….;-)

angrymike on April 6, 2012 at 8:20 PM

Yeah, I had to go and call for 7%./

Bmore on April 6, 2012 at 10:16 PM

The Energy Department Prepares For The Next Round Of Solyndra Loans Direct Deposits to President PantLoad’s Campaign Fund.

Closer to the truth.

BigWyo on April 7, 2012 at 10:40 AM