. Space Industry and Business News .




.
SOLAR DAILY
US energy secretary to face grilling over failed firm
by Staff Writers
Washington (AFP) Oct 27, 2011


US Energy Secretary Steven Chu will testify to a key congressional committee November 17 about a half billion-dollar loan to now bankrupt solar panel firm Solyndra, the panel announced late Thursday.

President Barack Obama's Republican foes have been hunting for evidence that politics at the White House improperly shaped the US Energy Department's decision to provide Solyndra with a $535-million loan guarantee.

The White House has denied acting inappropriately.

The chairman of the House Energy and Commerce Subcommittee on Oversight and Investigations, Republican Cliff Stearns, announced that Chu would testify before his panel and signalled that the official would face a grilling.

"We hope he will finally provide answers about why DOE consciously ignored the direct warnings from their own experts that Solyndra was doomed to fail, and granted the loan to Solyndra," Stearns said in a statement.

Stearns also accused Chu and his department of illegally restructuring Solyndra's loan at a time when the failed firm "was fresh out of cash."

"Dr Chu's testimony is an important piece of the overall Solyndra puzzle as we seek answers on why taxpayers are now on the hook for a half billion dollars," the lawmaker added.

Critics of the administration say that the firm, once hailed as a shining example of Obama's push to create green jobs in a new energy economy, was instead an symbol of unwise federal handouts.

California-based Solyndra has now filed for bankruptcy, closed its doors and laid off 1,000 workers, leaving taxpayers on the hook for the loan.

Related Links
All About Solar Energy at SolarDaily.com




.
.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries






.

. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



SOLAR DAILY
Floating Solar Power Energizes New Jersey American Water Treatment Plant
Voorhees NJ (SPX) Oct 28, 2011
Floating on a reservoir near New Jersey American Water's Canoe Brook Water Treatment Plant in Millburn is the East Coast's first solar array on a body of water designed to withstand a freeze/thaw environment. The 538 solar modules will generate 135 kilowatts of DC power, which will then be converted to 115 kilowatts of AC power, generating approximately two percent of the Water Treatment P ... read more


SOLAR DAILY
Japan, India to accelerate joint rare earth development

Berkeley Lab Scientists Spy Molecular Maneuvers

S. Korean antitrust agency fines LCD makers $175m

Reversing course, Hewlett-Packard to keep PC unit

SOLAR DAILY
China suspect in US satellite interference: report

Emirates seek French military satellite

First MEADS Battle Manager Begins Integration Testing in the United States

Elbit Establishes Israeli MOD Comms Equipment Supply Upgrade and Maintenance Project

SOLAR DAILY
Weather Favorable for NPP Launch

Vega arrives at French Guiana in preparation for its January 26 inaugural launch

SpaceX Completes Key Milestone to Fly Astronauts to International Space Station

ILS Proton Launches ViaSat-1 for ViaSat

SOLAR DAILY
Russia to launch four Glonass satellites in November

One Soyuz launcher, two Galileo satellites, three successes for Europe

Soyuz places Galileo satellites in orbit - mission control

GPS shoes for Alzheimer's patients to hit US

SOLAR DAILY
Japan's ANA net profit up 72.1% in first half

China Southern Airlines grounds Airbus A380

Calif. airship reaches record height

Boeing Dreamliner makes first commercial flight

SOLAR DAILY
Single photons for optical information transfer

Research Finds Gallium Nitride is Non-Toxic, Biocompatible - Holds Promise For Biomedical Implants

Japan's Renesas mired in red on microchip sales drop

NIST compact frequency comb could go places

SOLAR DAILY
Lockheed Martin Begins GeoEye-2 Satellite Integration

Better use of Global Geospatial Information for Solving Development Challenges

NASA postpones climate satellite launch to Oct 28

NASA Readies New Type of Earth-Observing Satellite for Launch

SOLAR DAILY
'Historic' deal to halt hazardous waste export to south

Fresh oil pollution reported in Nigerian region

Home washing machines: Source of potentially harmful ocean 'microplastic' pollution

Pollutants linked to a 450 percent increase in risk of birth defects


.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2011 - Space Media Network. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement