Tuesday, October 04, 2011

Obama: No Regrets About Solyndra Loan (Clueless to the End, Arrogant or just Just Lib-minded?)

Obama: No Regrets About Solyndra Loan (Clueless to the End, Arrogant or just Just Lib-minded?):

President Barack Obama said Monday he does not regret a $528 million loan to a solar energy company that later collapsed, saying officials always knew a clean energy loan program would not back winners 100 percent of the time.

"There are going to be some failures, and Solyndra's an example," Obama said in a television interview, referring to a California solar panel maker that declared bankruptcy last month and laid off its 1,100 workers. The company's failure has become a rallying cry for critics of Obama's clean energy program who say the government should not try to predict winners and losers in the volatile renewable energy market.

Obama disputed that, saying China is pouring "hundreds of billions of dollars into this space." If the United States wants to compete with China, Germany and other countries that are heavily subsidizing clean energy, "we've got to make sure that our guys here in the United States of America at least have a shot," Obama said.

Obama, in an interview with ABC News, was asked whether his administration had ignored warnings about Solyndra, as some congressional Republicans assert.

"Well, hindsight is always 20-20," he said.

(Excerpt) Read more at newsmax.com ...

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