Ron Paul vs Barack Obama 2012

Ron Paul vs Barack Obama 2012

Ron Paul vs Barack Obama 2012 How Obama Got Elected “Going Green” Crony Capitalism and More Waste! 2012 Obama vs Himself
Here goes your tax dollar wasted by Obama and people like Al Gore.

In a blow to the Obama administration’s efforts to create green jobs, solar-cell maker Solyndra announced Wednesday that it will close its remaining Fremont factory, lay off its 1,100 employees and file for bankruptcy.

A foundation linked to a top donor to President Obama says it took a hit like all other investors in a distressed solar company that this week shuttered its plant and laid off 1,100 workers, leaving taxpayers on the hook for loans guaranteed by the federal government.

The Tulsa-based George Kaiser Family Foundation said in a statement that it is among many investors in Solyndra, the California-based company that received a $535 million loan guaranteed by the Energy Department. The independent foundation is linked to billionaire oilman George B. Kaiser, a fundraising bundler during Obama’s campaign.

The foundation said it is one of many that “suffered a loss as a result of the company’s inability to overcome serious challenges in the marketplace, especially the drastic decline in solar panel prices during the past two years caused in part by subsidies provided by the government of China to Chinese solar panel manufacturers.”

The statement issued Thursday came as House Republicans vowed to more fully probe the extent of White House involvement in federal assistance to Solyndra, saying they have found evidence the White House tracked the company’s application.

The Fremont, Calif., firm, which promised two years ago that it could help create new clean-tech jobs, announced Wednesday it was closing its doors and laying off workers. Taxpayers might now be responsible for repaying Solyndra’s loan, part of an estimated $80 billion in subsidies the Obama administration had committed to clean technology projects and innovation in this country since 2009.

In 2009, Solyndra received the Energy Department’s first loan under the new administration’s program to spur clean technology innovation. Obama and Energy Secretary Steven Chu had visited Solyndra’s plant, and Vice President Biden spoke at its groundbreaking via live video. Each touted the company as a model of the administration’s effort to grow a “green” industry and create millions of new American jobs.

Republicans on the Energy and Commerce Committee said Thursday they are seeking copies of all communications between the White House and Solyndra regarding the loan guarantee. They also want communications between the White House and Solyndra investors.

Energy and Commerce Committee Chairman Fred Upton (R-Mich.) and Cliff Stearns (R-Fla.), chairman of the oversight and investigations subcommittee, wrote to the White House Thursday:

“We have learned from our investigation that White House officials monitored Solyndra’s application, and communicated with DOE and Office of Management and Budget (OMB) officials. Documents received by the Committee also show that DOE and OMB officials were aware of the White House’s interest in the Solyndra loan guarantee.”

Other Solyndra investors include Rockport Capital, whose top executive served on a government panel advising the Energy Department on solar energy, and Madrone Capital, a fund of the Walton family.

Peter Lynch, a longtime solar industry analyst, questioned whether Chinese subsidies were a significant cause of Solyndra’s problem. Solyndra was not competitive with other U.S. makers, Lynch said. The firm’s estimated cost to make a panel had been as high as $6 a watt, and it had struggled to make a profit when selling panels for $3 a watt.

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