The Obama administration aggressively rushed the approval process of the Solyndra loan to pay back big Obama donors.
It was a crony socialism debacle, and now because he’s slumping in the polls, Obama, (weasel that he is) is trying to shift blame to Congress, and even has the unmitigated gall to make Republicans and Democrats equally complicit.
APM: With all respect, it was a gutsy move I think to come to a solar facility. Your administration has staked a lot on clean technology, green jobs – the biggest item most people know about that strategy is, of course, a company named Solyndra, which your administration gave loan guarantees to, then went bankrupt and has been the subject of many investigations. Are you doing your ‘all of the above’ strategy right if that’s what we have to show for it, Solyndra?
OBAMA: We are doing the all of the above strategy right. Obviously, we wish Solyndra hadn’t gone bankrupt. Part of the reason they did was because the Chinese were subsidizing their solar industry and flooding the market in ways that Solyndra couldn’t compete. But understand, this was not our program per se.
Congress–Democrats and Republicans–put together a loan guarantee program because they understood historically that when you get new industries–it’s easy to raise money for start-ups, but if you want to take them to scale sometimes there’s a lot of risk involved, and what the loan guarantee program was designed to do was to help start-up companies get to scale. And the understanding is that some companies are not going to succeed, some companies are going to do very well, but the portfolio as a whole ends up supporting the kind of innovation that helps make America successful in this innovative 21st century economy. Do I wish that Solyndra had gone bankrupt? Absolutely not. And obviously it’s heartbreaking it happened for the workers who were there.
As you probably already know, there was an earlier loan program but the Bush administration put the kibosh on it because it was obviously untenable.
They got the money through the “stimulus” bill which got 0 votes from Republicans in the House, and only 3 in the Senate, hardly a bi-partisan effort.
As Doug Powers says: “It takes a big bus to be able to back it up over all of Congress, and an even bigger one to back it up over a party that wasn’t anywhere near the bill that funded Solyndra…”
Obama thinks the American people are stupid enough to believe his increasingly brazen lies. It is imperative that he is run out of town on a rail in November.
More at TownHall as Guy Benson further fisks Obama’s disingenuous words.
Where to begin? (1) Obama says Solyndra couldn’t compete because of its heavily subsidized Chinese competitors. Does the president believe we can win a government subsidization war with the Chinese? Is out-spending China a viable path forward? Does he recall that our gross national debt has eclipsed 100 percent of GDP, and that China is already our biggest foreign creditor?
More pathetic Obamalies via Powerline: Obama’s Energy Strategy: Delay, Deny and Deceive:
Today Barack Obama continued his fraudulent energy tour in Cushing, Oklahoma. The purpose of his visit to petroleum-producing areas is to convince the American people that he is a pro-energy, pro-development president. Today Thomas Pyle, President of the Institute for Energy Research, released this statement in response to Obama’s speech in Cushing:
President Obama wants to deceive the American people into believing that he’s somehow responsible for the southern segment of the Keystone XL pipeline, much like he wants them to think he’s responsible for increased oil and gas production in the United States. Neither claim is true, and the president knows it.
The administration has blocked full development of the Keystone XL pipeline, from delays last fall to the outright rejection of the pipeline permit earlier this year. The president wants to reject the pipeline, and yet take credit for approving it. Similarly, he’s closed development of millions of acres of onshore and offshore federal lands for oil and gas production, while attempting to take credit for production increases on state and private lands where he has no role.
Read the whole thing – Hinderaker concludes with a good question:
How long do you think it will be before a White House reporter calls Obama on his constant misrepresentation of the facts relating to energy?
Don’t hold your breath, John.
Rush started off his show, today , slamming the AP for its dishonest reporting:
Obama lied to the American public again yesterday saying his administration would “drill everywhere we can.”
The Obama Administration has blocked oil drilling and development in:
** 60 sites in Utah
** Outer Continental Shelf
** Ohio killing 200,000 jobs
** Off Florida, where Cuba is drilling
…Not to mention the Keystone Pipeline.
So when Obama says he is going to drill everywhere, he really means nowhere.
This RNC ad hits Obama on his disastrous energy strategy:
How does President Alinsky respond to all of this, you ask? Morning Bell: Obama Mocks Critics As Gas Prices Go Up:
Meanwhile, the President is still beating the drums for his energy strategy, which he highlighted yesterday in a visit to the Copper Mountain Solar 1 Facility in Boulder City, Nevada. Anticipating the obvious criticism — that his investment in the Solyndra solar plant went belly up, costing American taxpayers $535 million — the President mocked those who question his ideas, saying they “lack imagination,” and he turned to name calling in order to deflect legitimate concerns about the viability of his green pipe dream and the fact that it has not produced the jobs that he promised:
One member of Congress who shall remain unnamed called these jobs ‘phony’ — called them phony jobs. I mean, think about that mindset, that attitude that says because something is new, it must not be real. If these guys were around when Columbus set sail, they’d be charter members of the Flat Earth Society.
But as Heritage’s Nick Loris points out, those who criticize the President’s policies aren’t opposed to new ideas. The Administration’s record of burning billions in taxpayer dollars to somehow transition America to a new energy economy have not produced results that earn confidence. The American people’s money is being used to offset private-sector investments and artificially prop up industries until they go bankrupt, like Solyndra, Beacon, Ener1, Abound, and so on. Only when technologies such as solar, wind, and biofuels become affordable and reliable will consumers embrace them.
Trans-Canada is going forward with the southern half of the Keystone Pipeline, because they don’t need administration approval for that half.
Obama, of course, has blocked the northern half, the half that actually connects to Canadian oil fields.
So what does Obama do? He goes to where the pipeline is being built, over his objection, and claims credit.
Hat tip: Drew at AoSHQ