Along with “fivedollaragallongas,” the energy watchword for the next few months is: “subsidies”—a word representing at least $10 billion in freebies and possibly as much as $40 billion annually in freebie cash for an energy industry already making historic profits.
The Obama campaign will begin airing its first commercial Thursday, and the first words on screen are “Secretive oil billionaires attacking President Obama.” The ad responds to charges leveled by Americans for Prosperity, a front group for the conservative Koch brothers.
A congressional investigative committee interrogated government officials Wednesday about why they supported giving a $535 million loan package to the recently failed California solar panel manufacturer Solyndra.
Solar-cell manufacturer Solyndra, one of the first green-tech companies to win a loan guarantee from the Obama administration in 2009, announced Wednesday that it will cease operations, lay off its 1,000-plus employees and file for bankruptcy. (more)