SEARCH BLOG: ENERGY
CNN reports that President Obama is not that concerned about a few billion dollars in bad loans to start-up energy technology companies.
"It would be a stunning case of bureaucratic disregard to declare victory because the government is expecting to lose 'just' $3 billion," Michigan Representative Fred Upton and Florida Representative Cliff Stearns, both Republicans, said in a joint statement. "When taxpayers are the ones paying the price, this sort of managerial soul searching should take place before billions of dollars are doled out, not after."
But President Obama has refused to apologize for the programs, saying the government should support these businesses in their early years so the country can compete with industries in other nations that lavish support on their own clean-tech sector.
"Some technologies don't pan out; some companies fail," the president said during his State of the Union address. "But I will not walk away from the promise of clean energy."
TUESDAY, JANUARY 31, 2012Mandating Green Wastes Green