Friday night before holiday weekend must mean it is time for yet another White House document dump. Less than one year after Obama touted his administration’s $535 million loan guarantee for green energy company Solyndra during his 2010 State of the Union address, embarrassed White House Officials wanted nothing to do with the company, newly released internal emails reveal.
Obama Touts Solyndra 2010 State Of The Union
Obama referred to Solyndra — the veritable stimulus darling — as a “California business that will put a thousand people to work making solar panels.”
The emails, which are part of the administration’s seventh document dump in response to congressional subpoenas, show just how little faith the White House had in the former green tech darling — weeks before the Department of Energy restructured the failing company’s $535 million loan to ensure it additional financing. In May 2010, Obama said that “companies like Solyndra” are the “true engine of economic growth.” But White House advisers didn’t even want Obama seen near Solyndra executives during the 2011 State of the Union address.
Daniella Gibbs Léger, director of White House message events, wrote in a Jan. 5, 2011 email, according to Politico. And an administration official told Politico on Friday that the idea of seating Solyndra executives near the president “didn’t even make it to any sort of serious consideration.”
But there were signs within months of the president’s public praise for the company that Solyndra was in trouble. On Dec. 8, 2010, White House energy and climate adviser Carol Browner and a colleague lamented Solyndra’s future.
“You hear solyndra is in a severe liquidity crises and we areent likely given next doe loan? Banner week,” Heather Zichal wrote. Browner replied, “Yep. Ugh.”
Solyndra wasn’t just raising red flags among staffers at the White House communications department. In December 2009, top Obama economic adviser Larry Summers wrote to an investor tied to Solyndra that “gov is a crappy vc [venture capitalist] and if u were closer to it you’d feel more strongly.”
Still, just months after these internal White House emails were sent, the U.S. Department of Treasury’s Federal Financing Bank reported that, despite Solyndra’s apparent problems, the company had secured an interest rate on its loan that was dramatically lower than the interest rates on the loans assigned to several other comparable green energy projects. And, even though Solyndra was such a taboo topic in the White House that lower-level communications personnel reacted to the mere mention of the company with a sad-faced emoticon, the Department of Energy agreed to restructure the company’s loan to allow for $75 million in additional financing. Priorities, right?
With Obama’s recent mocking of the GOP presidential candidates as “founding members of the flat Earth society” for championing more domestic oil production, an sentiment echoed by a plurality of Americans who badly need cheeper energy with record gas prices for March, Obama does’t appear to be the brainiack the media portrays him to be. All things should indeed be on the table, but continuing to throw our hard-earned-taxpayer-good-money after bad, frankly, has most pissed off. It is far past time for common sense to return to the White House with an exodus of left wing radical environmentalists who can enjoy theories of fueling their fisher price cars on unicorn farts over an Argentina Mate at The Bean Counter’s Lounge in Berkley.