[SHpuntik]

Section 1703... of the Energy Policy Act of 2005 authorizes the U.S. Department of Energy to support innovative clean energy technologies that are typically unable to obtain conventional private financing due to high technology risks. In addition, the technologies must avoid, reduce, or sequester air pollutants or anthropogenic [manmade] emissions of greenhouse gases.

[TineSeign]

President Bush and a republican-controlled congress created this program. Ain't it great?

[Bridgester]

it's the application of the law to cronies that's the problem, not the law.

[limpoporanique]

http://youtu.be/sWbB_vStX_8
http://youtu.be/Tz4bNzF5ZtM
~~~~~~~~~~~~~~~~~~~~~~~~~~~
THE LAW IS A LICENSE TO LOOT.

IT'S NOT PROPER TO EVEN CALL SUCH A TRAVESTY "LAW".

[EbrsaRynleot]

Section 1703... of the Energy Policy Act of 2005 ... But, but, but, but....

[anderriter]

it's the application of the law to cronies that's the problem, not the law.

No, it's the law.. Our Federal, ahem, "Government" has no business issuing such a decree in the FIRST PLACE.

And yeah, I'm sure Republican cronies cleaned up on it too..

They're half the problem, in fact.

[tattcasetle]

technologies that are typically unable to obtain conventional private financing due to high technology risks. THE FACT THAT THEY DON'T FUCKING WORK AND WE KNOW THIS BECAUSE THE LAWS OF FUCKING PHYSICS SAY SO... Fixed that for you..

[nanyaHgoc]

2005...wasn't that about the time that the idiotic and unproven notion/hoax that human activity can affect global temperature was at a fever pitch?
Are you a warmist, jeshu?

[SarSerceSaice]

it's the application of the law to cronies that's the problem, not the law.

How it works, is the energy department gets a slush fund that the energy secretary can use as he sees fit to back whichever loans he wishes. One man.

That is horseshit.

It was perfectly created with cronyism in mind.

[Enalsebeerkawl]

Then, of course, the Democrats take over, pass the fucking stimulus bill, and insert billions and billions into that slush fund to spend on all their pet projects and campaign supporters.

So they make it much worse, but they couldn't have done anything if the republicans hadn't created the fucking law in the first place!!!

[StanWatts]

Why in the hell are republicans passing laws to shift taxpayer money towards green energy projects that don't pass muster on the free market?

How does that fall in line with republican values?!?

[vNZsk39B]

...............

[jadabaad]

They didn't. Solyndra was refused by Bush and it took OWEblamer to come along and ignore reality and invest in Solyndra purely on cronie capitalism and ideology.

It doesn't and that's why it took a democrat idealogue like OWEblamer to allow it to happen.

You must sure be butthurtin' over R's not going to nominate RP to make up such crap.

I'm not making up anything. Loan guarantees are loan guarantees. Was Solyndra the only company backed? Or did Bush's energy department back loans as well?

The only time a loan guarantee is necessary is when no one on the free market will offer a loan in the first place. And it inherently diverts money from some other project that has merit and would have otherwise received that loan.

The entire idea is anti-free market capitalism.

Now, these are the goddamned facts. It doesn't have a fucking thing to do with Ron Paul. It is something I am against, and I am talking about it, as is my wont.

I'm terribly sorry for you that your team (R's) totally sucks the devil's dick, too... But that's not my fault!

[payowlirriply]

That is far too much nonsense to wade through.

[Loxaeed]

December 2006: Solyndra Applies for a Loan Guarantee under the 1703 program.

Late 2007: Loan guarantee program is funded. Solyndra was one of 16 clean-tech companies deemed ready to move forward in the due diligence process. The Bush Administration DOE moves forward to develop a conditional commitment.

October 2008: Then Solyndra CEO Chris Gronet touted reasons for building in Silicon Valley and noted that the “company’s second factory also will be built in Fremont, since a Department of Energy loan guarantee mandates a U.S. location.”

November 2008: Silicon prices remain very high on the spot market, making non-silicon based thin film technologies like Solyndra’s very attractive to investors. Solyndra also benefits from having very low installation costs. The company raises $144 million from ten different venture investors, including the Walton-family run Madrone Capital Partners. This brings total private investment to more than $450 million to date.

January 2009: In an effort to show it has done something to support renewable energy, the Bush Administration tries to take Solyndra before a DOE credit review committee before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE “without prejudice” because it wasn’t ready for conditional commitment.

March 2009: The same credit committee approves the strengthened loan application. The deal passes on to DOE’s credit review board. Career staff (not political appointees) within the DOE issue a conditional commitment setting out terms for a guarantee.

[temansertewek]

Solyndra isn't the point, of course. It's just a headline and an example.

The point, and the problem, is that a republican government thought it a good idea to pass legislation to guarantee loans to green energy.