Dept. of Energy e-mails contradict Obama denials on another green energy failure

posted at 2:01 pm on October 29, 2012 by Mary Katharine Ham

President Obama said Friday the decision to give millions in taxpayer money to a now bankrupt solar company in Colorado “was made by the Department of Energy,” and had “nothing to do with politics.”

But e-mails published by Colorado reporter Todd Shepherd reveal Department of Energy officials pushing the loan to Abound Solar based on pressure from the White House. Complete Colorado has the full e-mail exchanges:

DOE loan executive Jonathan Silver tells DOE credit advisor Jim McCrea, “You better let him know the WH wants to move Abound forward.” It appears to be a mild scolding to a Treasury advisor, Ian Samuels, who is not moving fast enough to schedule calls regarding Abound.

The second page of the email thread makes mention of “…transaction pressure under which we are all now operating…” This entire email thread happened just a few days before President Obama would hail the government-backed loans as a job creator for Colorado.

Abound Solar, which counts major Obama bundler Pat Stryker among its early backers, is now under criminal investigation for misleading investors. It went bankrupt in mid-2012, leaving employees out of work and taxpayers with the bill. The company had gone through $70 million of a federal loan guarantee worth $400 million. It was supposed to create 1,500 permanent jobs, according to the president’s 2010 announcement of the loan.

Upon its closing in June, Rep. Darrell Issa, the head of the House Oversight Committee, suggested Abound’s weak financials at the time of its loan suggested political motivations over taxpayer protection:

As part of its examination of President Obama’s failed green energy agenda and botched loan program, the Oversight Committee spotlighted in January the very real risks to taxpayers from Abound’s weak balance sheet. Abound received a junk credit rating of B, below that of the failed Solyndra

Today, that risk has become a reality, demonstrating yet again that taxpayers pay the price when the Obama Administration makes politically-motivated decisions as part of its failed green energy agenda.

Stryker’s involvement wasn’t the only evidence of political cronyism surrounding Abound, as The Weekly Standard reported in 2010.

The Huffington Post noted at the time that Abound received $3 million from DOE under President George W. Bush, and has been backed by Republican politicians, particularly in Indiana, where the company has another plant.

Here’s President Obama, speaking with local Denver TV reporter Kyle Clark Friday:

KYLE CLARK: In a national address, you touted the stimulus money going to Abound Solar – a Colorado company connected to one of your billionaire fundraisers. Now, as you may know, Abound Solar is out of business and under criminal investigation. The jobs are gone and taxpayers are out about 60 million dollars. How do you answer critics who see Abound Solar as Colorado’s Solyndra – a politically connected clean energy company that went under and took our money with it?

PRESIDENT OBAMA: (Laughs) Well, Kyle, I think that if you look at our record that these loans that are given out by the Department of Energy for clean energy have created jobs all across the country and only about four percent of these loans were going to some very cutting-edge industries that are going to allow us to figure out how to produce energy in a clean, renewable way in the future and create jobs in Colorado and all around the country. And some of them have failed but the vast majority of them are pushing us forward into a clean energy direction. And that’s good for Colorado and good for the country. And these are decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.

Other DOE e-mails unearthed in October reveal just how risky some officials thought these loans were:

“l really cannot fathom how one figures out whether a loan to a PV manufacturer is being made to one that will survive. Everything about the business argues for the failure of many lf not most of the suppliers.”

The “PV” reference is to photovoltaic solar panel manufacturing technology. Solyndra and Abound Solar both used PV technology.

The writer, a senior DOE official, concludes, “All in all in the solar field, l think it is extremely easy to pick losers and l really do not know how to pick winners.”

No wonder the White House pretends not to know about any of this.


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The Loser picks losers.

Bitter Clinger on October 29, 2012 at 2:04 PM

…JugEars lying again?…his poll numbers should go up!

KOOLAID2 on October 29, 2012 at 2:04 PM

Abound Solar, which counts major Obama bundler Pat Stryker among its early backers

…every fluken one of them!…how odd!

KOOLAID2 on October 29, 2012 at 2:05 PM

HEY MSM,I CAN’T HEAR YOU!!!

docflash on October 29, 2012 at 2:06 PM

At the risk of sounding redundant……………..HE LIED!!!!!

pilamaye on October 29, 2012 at 2:06 PM

Now bho wouldn’t lie would he? It just get better and better for foto’s using taxpayers money to help fund bho and go under?
L

letget on October 29, 2012 at 2:07 PM

If Nixon had to resign, if people like Martha Stewart had to serve time…Obama needs to be charged and tried for all of the shenanigan’s he has pulled.

right2bright on October 29, 2012 at 2:08 PM

Where the hits just keep coming…
One week to go…

Al Hall on October 29, 2012 at 2:08 PM

If Obama is re-elected, I want to start a Solar Energy company, so I can retire a millionaire…

right2bright on October 29, 2012 at 2:09 PM

Probably a relief for Barry to talk about something other than armed drones in Benghazi. Crony capitalism, graft, and corruption are familiar ground for him and much easier to downplay.

a capella on October 29, 2012 at 2:11 PM

BO has found a new vocation – one that isn’t above his pay grade:

Mr. Obama had already flown to Florida on Sunday night to hold campaign events on Monday but canceled them and flew back to the White House on Monday morning. The only campaigning he did was to deliver pizzas to a campaign office — prompting one reporter, Bloomberg’s Hans Nichols, to tweet: “Obama’s 12 hour trip to Orlando. … Most expensive pizza delivery in history?”

Read more: GOP ticket cancels campaign events – Washington Times http://www.washingtontimes.com/blog/inside-politics/2012/oct/29/gop-ticket-cancels-campaign-events/#ixzz2AiGXUnwr
Follow us: @washtimes on Twitter

Cody1991 on October 29, 2012 at 2:14 PM

There will be an Email Czar to delete incriminating emails.

Oil Can on October 29, 2012 at 2:14 PM

If Obama is re-elected, I want to start a Solar Energy company, so I can retire a millionaire…

right2bright on October 29, 2012 at 2:09 PM

With our money..

My plan is to buy up some swamp land and harvest the scum on the surface to power all vehicles in the country.. I’ll be a billionaire!!…. Oh…, wait……

Al Hall on October 29, 2012 at 2:14 PM

Politico article last week…

Obama said, “This is about trust. There’s no more serious issue in a presidential campaign than trust. The person who leads this country, you’ve got to have some confidence that he or she means what he or she says.”

um, yeah,

PRESIDENT OBAMA: (Laughs) Well, Kyle, I think that if you look at our record that these loans that are given out by the Department of Energy for clean energy have created jobs all across the country and only about four percent of these loans were going to some very cutting-edge industries that are going to allow us to figure out how to produce energy in a clean, renewable way in the future and create jobs in Colorado and all around the country. And some of them have failed but the vast majority of them are pushing us forward into a clean energy direction

socalcon on October 29, 2012 at 2:16 PM

The Obama for Sharia Campaign just announced; It’s Just a bump in the road….

dirtengineer on October 29, 2012 at 2:16 PM

Everything about the business argues for the failure of many lf not most of the suppliers.”

Well, that explains why there is no private investment capital.

Now, gimme more tax dollars! It’s for the chillun’! It’s Patriotic!

BacaDog on October 29, 2012 at 2:19 PM

PRESIDENT OBAMA: (Laughs) Well, Kyle, I think that if you look at our record it will show that I remember who my friends are, and that I take care of them.

GarandFan on October 29, 2012 at 2:21 PM

Kyle Clark went from Zero to Hero in a matter of 6-minutes here in the Centennial State.

9 News (9Spews) is a far left newsie that live feeds every Obama event while totally ignoring our boys Mitt and Paul.

The times they are a changing…

patman77 on October 29, 2012 at 2:22 PM

The reporter actually asks a good question regarding Abound and Stryker, too bad he let him off the hook with that non-answer.

antipc on October 29, 2012 at 2:23 PM

As usual, Obama never answered the question. Instead, he spouted talking points. LOSER in Chief.

GAlpha10 on October 29, 2012 at 2:24 PM

This is Orwellian and very dangerous. Obama would sell the land.

DO NOT allow a 2nd TERM!!!

Schadenfreude on October 29, 2012 at 2:29 PM

I think that if you look at our record…

We did, you lie.

LtGenRob on October 29, 2012 at 2:29 PM

Guess I’ll just keep on farming ’til it’s all gone.

rogerb on October 29, 2012 at 2:34 PM

More proof of the administration picking winners and losers.

weaselyone on October 29, 2012 at 2:34 PM

NOO, You mean President Judas, picked another loser? Really? How did that happen? That’s all this clown does. As the old saying goes, even a broken clock is right twice a day. For this jerk to be wrong on every “investment” has to tell you it’s planned & purposeful. The obvious question is, will the next administration, do the forensic audit and find the obvious siphoning off of dollars to the Dem campaigns and election finance fraud? Or, will they give cover to this criminal organization, running this country! Please keep in mind, that if you or I committed all these crimes, we would’ve been Indicted and Perp Walked under RICO! Convicted & sentenced to more years than we could count and never see the light of day again! Why are these criminals still stealing like this, if there’s no collusion with the Repubs?
ADDENDUM on how to take on the Obama Jihadi media & Win: http://paratisiusa.blogspot.com/2012/09/an-open-letter-to-those-who-should-know.html?spref=tw

God Bless America!

paratisi on October 29, 2012 at 2:35 PM

I am actually curious. Is there a company that has been successful under the DoE loan program?

weaselyone on October 29, 2012 at 2:39 PM

I think you pick winners based on what you want to win. More donations to campaigns make the target all to easy to figure it out.

Cindy Munford on October 29, 2012 at 2:41 PM

Just listened to Obama talking about how it will take “weeks” to get back to normal (Sandy damage).

Is this man going to try to delay the election???

PappyD61 on October 29, 2012 at 2:45 PM

I don’t know why I am surprised that this doesn’t get more press, if they can ignore Benghazi why would they over the waste of taxpayer money in the name of cronyism?

Cindy Munford on October 29, 2012 at 2:51 PM

PappyD61 on October 29, 2012 at 2:45 PM

That suggestion did work out well for the soon to be one term governor of N.C., I dare him.

Cindy Munford on October 29, 2012 at 2:52 PM

a senior DOE official, concludes, “All in all in the solar field, l think it is extremely easy to pick losers and l really do not know how to pick winners.”

Let me make it easy for you, “senior DOE official”: It’s not your f’in’ job!
It is not the proper role for the Federal Government to use tax-payer money as venture capital. You don’t have the expertise.
Leave it to the private sector investors. If they think it will succeed (i.e. be profitable) they will invest.

Dexter_Alarius on October 29, 2012 at 2:57 PM

And these are decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.

“I am not a crook”

STL_Vet on October 29, 2012 at 3:03 PM

Just listened to Obama talking about how it will take “weeks” to get back to normal (Sandy damage).

Is this man going to try to delay the election???

PappyD61 on October 29, 2012 at 2:45 PM

Even with a delay, Obama would still figure out a way to disallow the Active Duty Military members that are being prevented from voting because ballots aren’t arriving in time to vote and return.

STL_Vet on October 29, 2012 at 3:08 PM

The term we are looking for is “pathological liar” concerning the SCOAMF Obama. A person that would rather tell a lie than the truth in any and all circumstances. Generally pathological lying is a symptom of abandonment by one or both parents in childhood and chooming your way through high school, college, and grad school.

jukin3 on October 29, 2012 at 3:24 PM

The bad green-energy loans rank somewhere below Fast & Furious, and look at how successfully that was disappeared by the media.

And now, the hurricane. The bestest hurricane ever. Feel the excitement. Yeah, that’s the ticket! Hurricane even trumps national security and treason.

MSM: “We couldn’t waste time talking about Benghazi because there’s this hurricane squirrel… and don’t bother us with stories about loans, either.”

bofh on October 29, 2012 at 3:39 PM

PRESIDENT OBAMA: (Laughs) Well, Kyle, …

Yes, Mr. Preezy, this is certainly a lighthearted laughing matter.

KS Rex on October 29, 2012 at 3:42 PM

I wonder how Todd Shepherd got the emails? I guess the national media wasn’t interested.

Cindy Munford on October 29, 2012 at 3:48 PM

Do we know the story on contribution to Obama and Democrats why the owners/investors in this eco-fraud?

Because in The Chicago Way, you give taxpayer dollars to crooks who will give some of it back to you. You know, win-win, except for the taxpayers.

novaculus on October 29, 2012 at 4:24 PM