On the recordSeptember 14, 2012
The No More Solyndras Act is just the latest scheme by the majority party to distract from the real issues that affect our economy and to attack America's clean energy investments and future. While Solyndra did not achieve its goals, other projects did, and they have made great investments in clean energy infrastructure and job creation. Not every investment works out, as the private sector well knows. One failure is not a valid reason to condemn the entire DOE loan guarantee program, a program created in a bipartisan manner to further our energy independence and spur economic growth. In fact, an independent report by Herb Allison earlier this year confirms that the program actually holds less risk than originally envisioned when Congress first created and funded the program. American companies are fighting an uphill battle against foreign countries that aggressively subsidize their clean energy industries. Last year, China and Germany both heavily invested in their clean energy future. We cannot and should not depend on foreign-made clean energy technologies. In order to remain competitive in the global marketplace, the Federal Government must continue to play an active role in encouraging and promoting investment in clean energy technologies. Not only does this support help spur innovation, but the loan guarantee program has already generated $40 billion of direct private investment in the U.S.…
