DOE:
Incredulous Republicans grill Chu on gas prices, loan program
Greenwire:
Advertisement
After nine months of trying to get Energy Secretary Steven Chu to appear before his committee to talk about his deployment of stimulus funds, House Oversight and Government Reform Chairman Darrell Issa (R-Calif.) and his fellow Republicans spent as much time this morning talking about current gasoline prices as they did about the American Recovery and Reinvestment Act.
Issa began his opening statement by ticking off the rising cost of a gallon of gas since President Obama came into office.
"We know that gas prices are a leading indicator of whether or not we are on the right track or wrong track in the overall energy fight," Issa said.
Noting that Chu had previously given himself a grade of A- on DOE's stimulus-funded weatherization program that Republicans have been highly critical of, Issa asked Chu what grade he'd give himself on controlling the cost of gasoline.
"A little higher," Chu answered.
He said that "since I became a secretary of Energy, I've been doing everything I can to get a long-term solution."
Issa moved on to other questions but quickly blasted out his shock at Chu's answer to his 37,000 Twitter followers.
"Energy secretary just told me he gives himself 'higher than A-' on #gasprices (!?!) will share video as soon as I can," Issa promised.
The Republican National Committee quickly did the job for Issa.
"Can't make this up: Energy Sec Chu gives himself an 'A' for handling higher gas prices," the RNC posted, along with a link to the video.
But while GOP members used much of their time this morning to highlight the gasoline price issue that several national polls have found to be an anchor on President Obama's approval ratings, Issa and his colleagues also carved out plenty of time to bash the controversial DOE loan guarantee program that funded the now-infamous Solyndra solar energy company.
Rep. Jim Jordan (R-Ohio) said he was most concerned about the large number of companies that received loans through the same Section 1705 loan program that funded Solyndra that also had ties to Obama contributors or administration officials.
Jordan pointed out that a committee investigation found eight of the 27 companies that received loan guarantees through the program have connections to individuals who also have ties to the Obama campaign or administration. He noted that accounts for about 30 percent of the 1705 program loans.
"You weren't just helping people with connections to the administration?" Jordan asked.
Chu said that none of the connections Jordan pointed out made a difference in how professional staff at DOE assessed the loan applications.
The Energy secretary said he did not even know about some of the connections Jordan raised, including a financial interest that Jordan said the White House deputy chief of staff for policy, Nancy DeParle, had in a wind energy project called Granite Reliable that received a $169 million loan.
Chu also argued that several of the companies that received loans through the program also had high-profile Republican donors as backers. For example, Solyndra's investor list also includes Madrone Capital Partners, which is an investment company with connections to the Walton family, major Republican donors who also own Wal-Mart Stores Inc.
Jordan said the performance of the loan program and high-profile bankruptcies like Solyndra and Beacon Power indicates that "you either helped your friends, or you were incompetent."
Chu said DOE's general counsel continues to look into any allegations about improper connections between donors and loan recipients.
"If it turns out any of these people were actually active in either lobbying or part of the decision process in making these loans, that would warrant" DOE asking its inspector general to open an investigation, he promised.