He visited their headquarters, mentioned them in the State of the
Union, and gave them a $535 million federal loan – despite red flags
being raised over their financial instability. And then they went
bankrupt.
Although Solyndra is the highest profile example of President Obama
throwing taxpayer dollars at failing energy companies, sadly, it's not
the only one. The latest example is a company called Solar Trust of
America, which filed for bankruptcy this week.
After the Solyndra debacle, one would think the Obama administration
would stop trying to pick winners and losers with taxpayer money. But
just like Solyndra, Solar Trust was set to receive a federal loan
guarantee to the tune of $2.1 billion.
As President Obama props up money-losing energy companies like
Solyndra and Solar Trust, he continues to ignore common sense steps he
could take today to lower the price of gasoline.
With the stroke of his pen, President Obama could today begin the
process of bringing online 2.4 million new barrels of oil per day
simply by authorizing the construction of the Keystone Pipeline, re-
opening the Gulf of Mexico, and permitting exploration and production
in the Chukchi Sea and National Petroleum Reserve of Alaska.
These three steps are a key part of my $2.50 gasoline plan that would
lead to American energy independence and ensure that no president
would ever again bow to a Saudi King.
Please help us advance these kinds of bold solutions all the way to
the Republican Convention in Tampa by making a donation of $2.50 or
more today.
Sincerely,