Report: President Obama Personally Involved in ‘Green’ Energy Company’s $1.6B Loan Guarantee Application
- Posted on May 16, 2012 at 3:17pm by
Becket Adams
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President Obama personally discussed the details of BrightSource Energy’s federal loan guarantee with a company stakeholder and it appears the conversation “expedited the process,” the Washington Examiner’s Joel Gehrke reports.
“The connection between the White House and BrightSource Energy, Inc., — which received a $1.6 billion loan guarantee — emerged during a House Oversight and Government Reform Subcommittee hearing this morning, based on emails that show BrightSource asking the White House for help in receiving a loan from DOE [emphasis added],” Gerhke adds.
Some Blaze readers may already be familiar with BrightSource: it’s the same “green” energy company that cancelled its initial public offering back in April, signaling that it had hit financial trouble.
“The continued market and economic volatility are not optimal conditions for an I.P.O.,” John Woolard, BrightSource’s chief executive, said in a statement.
Simply put, BrightSource (like Ener1, Energy Conversion Devices, Solyndra, Solar Trust, Mountain Plaza Inc., Fisker Auto, etc.) discovered the hard way that the renewable energies market isn’t exactly thriving.
Woolard told the DOE about the president’s involvement in January 2010 when he was lobbying for a “conditional commitment.”
“Darbee at PG & E talked directly to Obama about the program’s challenges and the bad situation it puts him in [emphasis added],” Woolard said in an email to Matt Rogers, the former Senior Advisor to the Secretary of Energy for the Recovery Act (it’s important to note that Rogers played a pivotal role in the disbursement of funds to “clean” energy companies).
The “Darbee” in the email is a reference to Peter Darbee, the former CEO of Pacific Gas and Electric.
“They had a vested interest in getting this thing approved because you were providing them their required commitment for green power,” Rep. Jim Jordan (R-OH) said to Woolard. “One month after this email you got the conditional approval.”
Rep. Jordan continued, citing an email exchange that occurred between Woolard and Jonathan Silver, executive director of the DOE loan program, after Woolard’s company received its “conditional commitment.”
“In that email, Woolard asked Silver to proofread a drafted email that the BrightSource chairman, John Bryson — now President Obama’s Commerce Secretary — intended to send to White House Chief of Staff Bill Daley,” Gerhke writes.
The letter requested that the White House directly influence BrightSource‘s loan guarantee application.
“We need a commitment from the WH to quarterback loan closure between OMB and DOE,” Bryson‘s message to Daley said. Also included in the letter was a request for “guidance and support from the White House.”
President Barack Obama
This revelation comes at a time when Energy Secretary Steven Chu will probably have to reappear before Congress to better explain the reasoning behind the DOE’s decision to pour billions of dollars into “clean” energy companies.
“It’s clear that there was direct conversation leading to a form of favoritism for BrightSource,” Darrell Issa (R-CA) said, adding that the investigation will now look into pre-loan approval communications between BrightSource and the White House.
Oh, and just because it bears repeating (via Washington Free Beacon):
The largest investor in Brightsource (with a 25 percent stake) is VantagePoint Venture Partners, a firm whose principal, Sanjay Wagle, helped raised millions for President Obama’s campaign in 2008 and even served as a “renewable energy grants adviser” at the DOE.
Senate Majority Leader Harry Reid (D., Nev.) is an avid supporter of the BrightSource, and the company’s executives have in turn given thousands of dollars to Reid over the past few years, even hosting a fundraiser for Reid at the BrightSource headquarters in Oakland, Calif.
Front page photo source: BrightSource.com. This story has been updated.
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Comments (59)
Aiccreative
Posted on May 16, 2012 at 7:40pmSomething about thermal solar
something about bandwidth solar
Solar reflection fields heat the water in the tower and pressure turns the turbine.
Solar panels… at best harness the red photons.
What are we looking at in reality.
Report Post »I believe the magnify glass method will always produce more pressure….. just sayin.
Aiccreative
Posted on May 16, 2012 at 7:49pmthe brighter the light, the more the pupil dilates
Report Post »Aiccreative
Posted on May 16, 2012 at 8:01pmhttp://www.capstoneturbine.com
Report Post »Microturbines for Combined Heat & Power Generation at Hotels
db321
Posted on May 16, 2012 at 10:38pmGreece and UK are going to fall – Obama will cancel election and proclaim Marshall Law – America is done – Obama will be King – Soros will be Glad – God will be Mad!
Report Post »docgreen
Posted on May 17, 2012 at 3:39amPeople we need to stop this sh_t! Lets see obama and his piggy bank just keep on giving. I told everyone he’s not trying to get us out of Debt, he’s trying to dig a huge hole to bury us!….
Report Post »turkey13
Posted on May 17, 2012 at 11:17amFollow the money and see how much went into off shore accounts. I’m sure Obama has one set up in his oldest daughters name. Money talks and poor people walks!
Report Post »don young
Posted on May 16, 2012 at 6:32pmHe will keep giveing money to them until we replace him or we will be worse than greece.
Report Post »m509
Posted on May 16, 2012 at 8:35pmIsn’t that the point.
Report Post »docgreen
Posted on May 17, 2012 at 3:52amYep! People should have scrutinized obama more and realized the Silver Spoon has been in his mouth since he opened it! Even the work he did in Chi. Town. He was never accountable for money, he just used America’s kindness. Handing our free money for votes. Stealing from us all, for votes. At least with Romney he understands riches and debt. Yes he’s made money, but he understands that you need to be accountable when it comes to others money! GOD SPEED and Pray for the Peace of Israel!
Report Post »Detroit paperboy
Posted on May 16, 2012 at 6:15pmIt’s amazing how the house of reps. with a republican majority has given the executive branch the power of the purse……..Boehner needs to just go away, he is spineless…….DE FUND THESE AGENCIES ….NOW !!!!!!!!!
Report Post »asybot12
Posted on May 16, 2012 at 6:42pmNot sure but is there not a senate in between? And if that does not work ob then he just uses executive powers plus BTW there has not been a budget to pass for over two years . It is not all Boehner’s fault.
Report Post »asybot12
Posted on May 16, 2012 at 7:05pmJust to add: the Dems in the senate just voted down another budget IT IS NOT THE GOP!!!
Report Post »HorseCrazy
Posted on May 16, 2012 at 8:03pmI love Boehner. He is doing the best job possible in his situation and has taken a great stand. Do not be fooled the GOP controls the moves the speaker makes. This congress is 2 years old, the previous congress with dem control signed away so much control to the executive branch and to the various agencies it is mind boggling.
Report Post »MAMMY_NUNN
Posted on May 16, 2012 at 8:49pmTaking over the Senate means more than just regaining control but it means the physical removal of one said Harry Reid and Dick Durban, and Chucky to boot or we have the same situation as Bill Frist was faced with Reid will continue to shoot down and prevent debate on any issue that comes up.
Report Post »Abraham Young
Posted on May 16, 2012 at 5:58pmFascism is corporate welfare and vice versa. What’s the Fascist President doing directing our economy? Who the h___ does he think he is? Oh, I forgot, Bush started it. OK then, it must be the right thing.
Report Post »OneTermPresident
Posted on May 16, 2012 at 5:43pmIn a little more than 3 years they’ve given Romney enough ammo to last a decade and he can only use it till November.
Report Post »MAMMY_NUNN
Posted on May 16, 2012 at 9:01pmAnd we have the lies on tape.
Report Post »http://www.youtube.com/watch?v=fMu-fdNS1os&feature=youtube_gdata
LarryofArabia
Posted on May 16, 2012 at 5:38pmPlease; are you actually surprised by this? Barry will probably pull the old political trick of getting another ‘Mit Romney’ on the November ballot. Actually it’s Mitt and not Mit. Confused? There would be two Romneys’ on the ballot. Think that’s funny and not true? Think again. Joe Kennedy did just that for little Jack in the 1947 to get him into congress.
Yes, that would confuse voters… but all this Tom Foolery boils down to one thing: The man is buys votes with our money.
Obama gives ‘them’ money so
‘they’ can give the money back to Obama to get him elected so
he can give ‘them’ more money so they can give it back so
he can get elected to give them free stuff.
America‘s problem today is that we ’O’ver-think. It is so plain and obvious. Too easy.
Report Post »Steve28
Posted on May 16, 2012 at 4:51pmIs this not typical Chicago style politics. Get ready for ballot box stuffing and voter fraud as a way to win.
Report Post »AJAYW
Posted on May 16, 2012 at 4:41pmThe narcissist will do anything to stay in power.
Report Post »Bill Rowland
Posted on May 17, 2012 at 5:45amThe problem ia that when Sweet Old Barack realizes he is goin to get his a** kicked he will encourage rioting in the inner cities. The New Black Panthers, the Nation of Islam, the OWS protesters, and the ghetto rats, encouraged by Rev Al will pillage and burn. Then Sweet Old Barrack will declare Martial Law.
Sweet Old Barack doesn’t realize that this countries gun owners/hunters comprimise the largest army in the world. Many of us are ex military and remember that our oath was to protect and defend the constitution not a particular individual. We must hope and pray that the majority of our military remembers that and stands for the constitution rather than with the POTUS.
Keep your powder dry and your guns cleaned and lubricated.
OMG 2012
Report Post »ColoradoMaverick
Posted on May 16, 2012 at 4:39pmWhats amazing is how high Obama’s ratings are even after it should be apparent to the entire country that he is a liar, a thug, a crook, a socialist, a communist, a marxist, a progressive political hack. He is by far the worst president in US history and even the worse leader in world history.
Report Post »Anonymous T. Irrelevant
Posted on May 16, 2012 at 4:22pmFor a Harvard grad, Obama is the dumbest SOB. I’d like to see his grades.
Report Post »right-wing-waco
Posted on May 16, 2012 at 5:21pmHe don’t have no grades. He was just “present”.
Report Post »MDDAWG
Posted on May 16, 2012 at 4:08pmOngoing crony capitalism using Chicago tactics. Maybe Obama will end up with Blagojevich and Daley after all the smoke clears.
Report Post »I have no problem with capitalism, but let’s have it be honest capitalism.
Hickory
Posted on May 16, 2012 at 4:05pmIs it against the law? If it is………… cuff the SOB.
Report Post »Snowleopard {gallery of cat folks}
Posted on May 16, 2012 at 4:04pmWhat else is new?
Report Post »welovetheUSA
Posted on May 16, 2012 at 4:00pmObama has his communist fingers in all pies that steal the tax payers money……starting with the Tides foundation..Acorn etc.
Report Post »matt708
Posted on May 16, 2012 at 3:50pmthe repubs need to be all over this and make the american people aware of the presidents involvment along with stinky Harry’s
Report Post »possom
Posted on May 16, 2012 at 3:48pmObama has done more to destroy green energy than any other president in history!
Report Post »scuba13
Posted on May 16, 2012 at 3:56pmThere was nothing to destroy, green energy is a lie.
Report Post »PilgrimStuckInBizarroWorld
Posted on May 16, 2012 at 5:49pmAnd a scam!
Report Post »themongoose
Posted on May 16, 2012 at 3:47pmChicago on the Potomac. Don’t you know that Al Capone is looking up enviously from hell at this crew.
Report Post »AvengerK
Posted on May 16, 2012 at 3:57pmand you know…what more astute business mind could you ask for than Barack Hussein Obama Jr? If Barry doesn’t know a sound investment (always with the tax payer’s money..natch) then who does?
Report Post »Gonzo
Posted on May 16, 2012 at 4:03pmI assure you it was a good investment for Barry AvengerK. How much money is he getting for his reelection bid out of that taxpayer money? He didn’t do it for free, it’s the Chicago way. Look at Blago.
Report Post »Want our country back
Posted on May 16, 2012 at 3:41pmIt’s going to get UGLY…… God help us all….
OMG2012
Report Post »junior1971
Posted on May 16, 2012 at 3:38pm“That ship has already sailed”, one of soros’ cronies smugly told Beck. I guess no one told them about the iceburg up ahead! Looks like this ship has already begun to sink! What, no life rafts!? Oh darn! hehehehehehehe:=) So sad.)
Report Post »Kathleen
Posted on May 16, 2012 at 3:52pmI hope Soros lives long enough to see his plans annihalated.
Report Post »Individualism
Posted on May 16, 2012 at 3:33pmBoycott, Occupy and Destroy that company.
Report Post »13th Imam
Posted on May 16, 2012 at 3:41pmWhat Company??
The money is in the Screw America Four More Years Reelection Stash.
Report Post »HKS
Posted on May 16, 2012 at 3:30pmWow, a private (public) angel investor with a no equity take-over position, what a deal. Is this a great country or what, use the public money to make mo money for me.
Report Post »4truth2all
Posted on May 16, 2012 at 3:30pmMore BS from the BO …
Report Post »NHwinter
Posted on May 16, 2012 at 3:26pmOk Romney, make an ad about this one to counter the false ad about Bain!!! Time to throw it back in their faces.
Report Post »Gonzo
Posted on May 16, 2012 at 3:25pmHow many of BrightSource’s Board of Directors were Obama bundlers?
Report Post »CatB
Posted on May 16, 2012 at 3:20pmAnd how much did they kick in to Obama’s re-election? Do we have ANY laws for those in government anymore?
Report Post »