Stephen Chu, Secretary of Energy (a world renowned physicist and former Nobel peace prize winner) recently testified before members of the Energy and Commerce Committee, arguing that Solyndra – although it failed – was still a good choice on the government’s part. He refuses to acknowledge that such a move may have been a waste of taxpayer dollars.
It seems like all government does now is waste, waste and waste more: with Beacon Power Corporation’s having recently failed, too, taxpayers should feel more skeptical then ever when it comes to subsidizing energy.
Although Vice President Joe Biden initiated the original DOE loan, Chu nonetheless presided over the entire process. Publically Solyndra maintained the façade of success. And while Obama may have hailed the renewable industry’s efforts, those working closely with the president were anxious. In other words, the decision to capitalize on Solyndra would turn out to be regrettable.
Leading the investigation was Rep. Cliff Sterns (R-FL), who balked at how carelessly the administration handled reports of the company’s finances leading up to its official demise. Clearly Mr. Chu has yet to finally admit that the steps taken by the DOE and current Administration where not in the best interest of the taxpayer.
If we’ll ever get those answers is unknown. What we can count on is if Obama retains his presidency, wasting taxpayer dollars will simply be an everyday part of the job.