Here’s A Little Sunshine On Trump’s Solar Nonsense (VIDEO)
Solar and other forms of clean energy were one of the talking points during the first one-on-one debate between presidential candidates Donald Trump and Hillary Clinton.
Trump tries to blame Obama for a Solar energy scandal that was caused by the Bush administration
But Trump was in his usual “bombast” mode and brought up a favorite Republican bone of contention:
The so-called “Solyndra scandal.” Which, he tried to blame the Obama administration for.
In the debate, Trump said:
“She talks about solar panels. We invested in a solar company, our country. That was a disaster. They lost plenty of money on that.”
He’s referring to the scandal, and yes. We did lose some coinage on that. Solyndra was a $535 million loan that didn’t work out.
But consider this:
It’s too bad that Trump and his fellow Republicans forget that the Bush administration originally pushed for the loan. Obama gets continually blamed for this, but Solyndra was partly backed by the conservative Walton family. It had received a loan guarantee from the Department of Energy, and it was 1.3 percent of the DOE portfolio.
So in essence, Trump was trying to blame Obama and Clinton when the Bush administration got the ball rolling.
While Bush and his cronies were pushing Solyndra they were also doing this: Spending $500 million every 18 hours on the Iraq War for FIVE YEARS.
That is a tragedy of epic proportions
Somehow, the Republicans never bring that one up. And for that, we wound up with 4,500 dead American soldiers, at least 100,000 innocent Iraqis killed, and another two million Iraqis driven out of their homes. But the Republicans are mad about Solyndra.
Originally a startup solar-power equipment manufacturer, the company, based in Fremont, California went bankrupt in 2011. Solyndra’s solar collectors used a unique tubular internal design that allowed it to collect light from all directions. The design was made with copper-iridium-gallium-diselenide (CIGS), a thin film that substituted the use of silicon, which was costly at the time. Receiving funding from the government, the company was a political attempt to put pressure on China’s strategic use of green-energy manufacturing.
But the economy went kablooey and demand for such things dropped. And in simultaneous fashion the fledgling company couldn’t contend with subsidized China-based companies that were progressing rapidly. So the company ran out of money, giving conservatives and oil interests a good chance to browbeat Obama, green energy and the idea of green jobs — especially solar power. And forget any sort of economic stimulus funding for this, right along with any chances of developing a national strategic industrial policy that can compete with China on any level.
When all else fails, blame Obama
A review of regulatory findings by The Associated Press shows that the company was already spewing hundreds of millions of dollars years before the Obama administration signed off on the loan in Sept. 2009. The AP also found that Solyndra officials were trying to gain a second round of loans from the DOE to enlarge the company’s Silicon Valley headquarters. The request for an additional loan was denied.
“We have incurred significant net losses since our inception, including a net loss of $114.1 million in 2007, $232.1 million in 2008 and $119.8 million in the first nine months of fiscal 2009, and we had an accumulated deficit of $505 million at Oct. 3, 2009,” the company said in a December 2009 filing to the SEC. “We expect to continue to incur significant operating and net losses and negative cash flow from operations for the foreseeable future.”
Conservative websites like The Daily Caller find ways to twist the story enough to blame Obama regardless.
Here’s an example:
“A solar energy company that intends to file for bankruptcy received $535 million in backing from the federal government and has a cozy history with Democrats and the Obama administration, campaign finance records show.
“Shareholders and executives of Solyndra, a green energy company producing solar panels, fundraised for and donated to the Obama administration to the tune of hundreds of thousands of dollars.”
The Caller mentions George Kaiser, a billionaire who backs Obama, raised between $50,000 and $100,000 for Obama’s election campaign. It notes he’s a key investor for Solyndra and that Kaiser himself donated more than $53,000 to Obama’s 2008 campaign. The Caller also mentions Kaiser is a frequent visitor to the White House among other things.
Then it notes:
“Campaign finance records show Kaiser and Solyndra executives and board members donated $87,050 total to Obama’s election campaign.
“And now, just two years after securing a half-billion-dollar federal loan, Solyndra has said that it will declare Chapter 11 bankruptcy.”
Never once does this right-wing site mention that Solyndra got its’ official start under the Bush administration.
Fox News also lost its’ collective mind and gave the “scandal” heavy air play. Of course, it’s no coincidence that a very important and influential shareholder at News Corp (Fox News’ parent company) is oil billionaire Saudi Prince al Waleed—who is, ahem, an “oil interest.”
Here’s the rather extreme headline that goes with the story:
“Obama’s Pet Billionaire at Solyndra May Take White House Down.”
The opening paragraph?
“A high profile, politically well-connected California solar energy company that had won a $535 million loan guarantee from the Obama Administration declared bankruptcy earlier this month and closed its doors sending 1100 workers to the unemployment line. The demise of Solyndra has already sparked an FBI investigation, congressional hearings, and raised numerous questions of political cronyism and corruption connected to the highest levels of the Obama Administration.”
The above paragraph is the only time I’ve ever heard conservatives appear remotely concerned about the unemployed. Just exactly how disingenuous are Republicans anyway?
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But when it comes to cronyism and corruption, the Bush administration has no room to talk.
“So we have Bush hiring cronies who hire even more cronies. And this happening even after Bush has been criticized openly for cronyism. I guess it’s their nature, like the scorpion riding on the fox’s back. … Though Bush himself ran several businesses into the ground and never earned an honest dollar, it seems that the soundest investment of all was in giving Bush your money and joining the crony bandwagon. … even as Bush’s cronyism is proving to have cost hundreds if not thousands of lives, Bush and his cronies are still hiring yet more cronies and paying them off with taxpayer dollars.”
And for those who are curious, SourceWatch even provides a list of Bush lies and deceptions. It’s a very long list.
So when Trump criticizes Clinton and Obama because Solyndra went down the tubes and the money that was wasted because of it, he’s making me think of all his bankruptcies and the times he has stiffed people.
Like his fellow Republicans I mentioned earlier, he has no room to talk.
And frankly, Clinton cleaned his clock during the debate. She was poised and diplomatic. Trump is neither of these things. It was clearly her night.
Here are a few highlights of last night’s debate, courtesy of the International Business Times.
Hillary Clinton screencap courtesy of The International Business Times