The House Energy and Commerce Committee has been holding hearings on the “No More Solyndras Act,” designed to prevent repeat performances of President Obama’s horrendously expensive “green energy” failures. The Acting Executive Director of the Energy Department’s Loan Program Office, David G. Frantz, dropped by to demonstrate why this Act is so urgently needed.
Rep. Cliff Stearns, chairman of the Oversight and Investigations Subcommittee, asked Franz if he would agree that “the Loan Guarantee Program has had a tough record.”
Frantz replied, “Quite to the contrary, sir, I think it’s been an enormous success.”
There have been so many “successes” that it’s hard to keep track of them all: Solyndra, Beacon Power, Abound Solar, Nevada Geothermal Power, Ener1, A123, SunPower, First Solar, Evergreen Solar, Solar Trust for America, Fisker Automotive… every one of them swimming in a thick “success” gravy of bankruptcy and layoffs.