Steven Chu: “I think the development of biofuels is very important to get us off of the dependency on foreign oil.”

If I look at other countries and how they are borrowing from our playbook--we have a long history of funding our research and development through our national labs, through our universities, and even in some companies.

The loans we give are for American jobs, and we are very clear about that.

Whether the investors are Republicans or Democrats did not enter into any decision as to whether we were going to fund the loan.

We believe that that ATVM loans, for example, the loans to Ford and to Nissan, saved or generated many, many thousands of jobs.