facebook
twitter
rss
account
search
search
 

Chu to testify about Solyndra loan

Oct. 28, 2011 at 6:06 AM   |   Comments

1 of 3
| License Photo
WASHINGTON, Oct. 28 (UPI) -- U.S. Energy Secretary Steven Chu agreed to testify before lawmakers about the controversial loan to solar panel company Solyndra, a committee chairman said.

Members of the Republican-led House of Representatives are putting pressure on the White House following the bankruptcy of solar panel company Solyndra. The company received a $535 million loan guarantee as part of U.S. President Barack Obama's green energy initiative.

U.S. Rep. Cliff Stearns, R-Fla., chairman of a subcommittee on oversight, said Chu agreed to testify Nov. 17 before lawmakers about the loan guarantee.

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

House leaders complained when the Energy Department said Susan Richardson, the author of a legal memo on Solyndra's loan restructuring, wouldn't testify under oath about the loan.

Critics say some of the details surrounding the loan raise certain legal questions.

The Obama administration said aggressive policies are needed as European and Asian countries quickly outpacing the United States in the clean-energy race.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Apple sells 10 million new iPhones during the first weekend Apple sells 10 million new iPhones during the first weekend
2
Starbucks testing a latte that tastes like beer Starbucks testing a latte that tastes like beer
3
Iran could retool pipeline for Pakistan Iran could retool pipeline for Pakistan
4
Iraq relying on oil wealth from Basra Iraq relying on oil wealth from Basra
5
EU confirms schedule for trilateral gas talks EU confirms schedule for trilateral gas talks
Trending News
Video
x
Feedback