You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

Chu Defends Solyndra Aid in Congressional Testimony

HeadlineNov 18, 2011

On Capitol Hill, Energy Secretary Steven Chu appeared before a congressional panel on Thursday to face questioning on the Obama administration’s bailout of the failed solar energy firm Solyndra. The White House has faced scrutiny following the disclosure it rush to approve a $535 million loan guarantee to the firm despite warnings it had not been properly vetted. Solyndra went bankrupt despite the aid, laying off about a thousand workers. Opponents have accused Obama of rewarding a wealthy donor with ties to Solyndra for his financial backing. In his testimony, Chu said political considerations played no role in the Solyndra loan.

Energy Secretary Steven Chu: “The loan guarantee to Solyndra was subject to proper, rigorous scrutiny and healthy debate during every phase of the process. As the Secretary of Energy, the final decisions on Solyndra were mine, and I made them with the best interests of the taxpayer in mind. And I want to be clear: over the course of Solyndra’s loan guarantee, I did not make any decision based on political considerations. My decision to guarantee a loan to Solyndra was based on the analysis of professional—experienced professionals and on the strength of the information they had available to them at the time.”

Democrats have accused Republicans of over-blowing the Solyndra controversy in order to taint efforts toward a green economy. Democratic Rep. Henry Waxman of California said, “It is time for the Republicans to stop dancing on Solyndra’s grave and get serious about energy policy.”

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top