Solyndra Loan: Crossroads GPS Ads To Target Obama's Spending On Now-Defunct Solar Energy Company

WASHINGTON — A Republican-leaning group will begin airing a major advertisement this week critical of the Obama administration's investment into a now-defunct solar-energy company, The Associated Press has learned.

Crossroads GPS will spend $500,000 on three cable network ads that hit President Barack Obama for "crony" government spending in his administration's half-billion-dollar loan guarantee to Solyndra.

The Fremont, Calif.-based solar-panel maker filed for Chapter 11 bankruptcy protection in September and was the first renewable-energy company to receive a loan under a stimulus-law program to encourage green energy.

The "nationwide ad by Crossroads GPS is aimed at exposing this ugly underbelly of Obama's vision," according to a memo from Crossroads president Steven Law. It calls the Solyndra case "a powerful cautionary tale about big-government hubris and the cronyism it invariably invites."

The Crossroads ad, reviewed by the AP Sunday, is among the group's first sharply pointed ads aimed at President Barack Obama's record and in part highlights support for a company backed by a major Obama supporter. An AP review of government records this fall found the administration restructured the Solyndra loan so that private investors would be repaid before taxpayers in case of a default.

But the administration has defended the loan restructuring, saying that without an infusion of cash earlier this year the company would have faced immediate bankruptcy. Obama officials have said investment in renewable energy is critical for the nation's future.

"The Republican presidential candidates support a budget plan that wipes out investments in clean energy – they'd cede the market to China – so it's no surprise that their special-interest-funded allies are attempting to keep America dependent on fossil fuels at any cost," Obama campaign spokesman Ben LaBolt said Sunday.

In recent weeks, Crossroads and other "super" political action committees have targeted ad spending in key primary states like Iowa and New Hampshire. Crossroads has spent more than $180,000 on broadcast and cable networks in Iowa this month, records show, and super PACs like Make Us Great Again – supportive of Texas Gov. Rick Perry – will spend nearly $1 million there ahead of the Iowa causes in January.

Crossroads GPS is the sister group of Karl Rove-backed American Crossroads, a super PAC that has promised to raise millions this election to defeat Obama.

____

Follow Jack Gillum at http://twitter.com/jackgillum

Comments

[OkieMon]

05:53 PM on 12/13/2011

when are these right wingers going to realize that they are standing next to hitl*er in the political spectrum and also in history....or do they realize it already and like it....anything but a "librul"....

[OilFieldGuy101]

09:21 AM on 12/13/2011

If Bush would have made this loan they would have wanted him nailed to the cross. It would get 24/7 coverage. The Bush admin said no to the loan.

[Craig Bovia]

11:08 AM on 12/13/2011

It wasn't available under bush/shamey. I do like the nailing him to the cross part. Can we put them both up?

[OneNationIndivisible]

11:26 AM on 12/13/2011

"The Bush admin said no to the loan." Ha! Ha! Ha! Is that what fakenews told you to think? Stop lying.

[kburgoyne]

12:15 AM on 12/13/2011

Just make sure everyone knows Crossroads is Karl Rove. That'll ensures people know Crossroads is lying no matter what they say.

[bilaton]

10:15 PM on 12/12/2011

This story never makes the evening news or the political page on HP

[kburgoyne]

12:15 AM on 12/13/2011

What story? Let us know when there's anything other than FoxNews pundits trying to create a story out of nothing.

[bilaton]

10:13 PM on 12/12/2011

There was a reason the accounting office recommended against this loan. It was a dirty deal with money funneled back to Obama in the form of contributions and owners getting all their money back at the expense of the American tax payer. I don't care what party you support, this deal stinks

[Zephyra]

08:08 PM on 12/12/2011

Same old saw. The pickings are slim, so they focus a one failed company out of a multitude of successes. Free enterprise includes the right to fail.

[ecomcon]

07:44 PM on 12/12/2011

The Republican head of the House Energy & Commerce Committee who called for the Congressional investigation of Solyndra is Fred Upton, who's from here in southwestern Michigan. Perhaps a dozen times each day, large lobbying groups like the American Petroleum Institute pay for pro-Upton ads on local TV. ("If you agree that Congressman Upton is helping business, call his office at 202 ...") I can't even imagine what these companies are paying for the ads. Certainly more than the 10 Grand that Romney tried to bet the other night. And what do the companies think they're getting for their investment?

Keep in mind that Solyndra and other green companies are trying to find sources of energy that these companies cannot profit from. For example, if I had an efficient solar panel at my house, I could generate free energy for my house, and charge my hybrid or electric car.

Also, keep in mind that Upton called for this investigation while he was a member of the 12-person SuperCommittee, and was supposed to be working on a solution for a fraction of the deficit problem. Instead, he called for an investigation of a company that received a federal loan guarantee equal to 0.04% of the deficit he was supposed to be eliminating.

I voted for Upton some of the 12 terms he's served, but he has taken a radical turn away from the mainstream.

[Zephyra]

08:09 PM on 12/12/2011

Thanks for the insight.

[William J Unverferth Sr]

03:30 PM on 12/12/2011

Solar and wind get 50.2% of all energy subsidies and supply less than 2.5% of all energy in the US (2010). This includes loan guarantees, tax breaks, direct subsidies R&D. Non renewables get 37% of the $$ and account for about 90% of electrical generation. Total subsidies were about 12 Billion. Judge effectiveness for yourself.

[kburgoyne]

12:17 AM on 12/13/2011

Yes, let us total up all the subsidies dirty energy has collected over the years, and compare them against all the subsidies clean energy has received. Clean energy will have received a tiny fraction.

[William J Unverferth Sr]

04:44 PM on 12/13/2011

Be sure you do it by kwh or are you afraid of the answer?

[OneNationIndivisible]

11:41 AM on 12/13/2011

"Judge effectiveness..." Your figures are absolute nonsense. Gotta love how you combine "fuzzy math" with a stunning inability to comprehend Logic, to reach your ASSumptions. Fakenews zombies are out in full force today!

[William J Unverferth Sr]

04:45 PM on 12/13/2011

It was yesterday and the numbers are accurate.

[4everright]

02:09 PM on 12/12/2011

Good....Obama has lots of indefensible actions to defend this time around.

[blurredmolly]

03:26 PM on 12/12/2011

not really. losing 10 billion dollars in cash at Baghdad Airport is way worse. they got nothin'.

obama/biden 2012

[SpeakupNation]

12:59 PM on 12/12/2011

Solyndra was another mess that Obama inherited from Bush. Bush tried to rush their loan approval at the last minute of his term to prove that he had done something, ANYTHING about alternative energy.

[intolleft]

01:52 PM on 12/12/2011

False. The program for investing in alternativ­e energy was started under Bush. They passed on Solyndra because it was a bad investment­. However the current admin saw differentl­y.

http://www­.politico.­com/news/s­tories/091­1/63484.ht­ml

And ultimately rejected it as a bad investment on January 9th 2009.

http://ene­rgy.gov/si­tes/prod/f­iles/Solyn­draCreditC­ommitteeRe­commendati­on_Jan09.p­df

[4everright]

02:09 PM on 12/12/2011

that is a lie...but if Rach, chrissy or big eddie says so it must be true.

[blurredmolly]

03:29 PM on 12/12/2011

http://thinkprogress.org/romm/2011/09/13/317594/timeline-bush-administration-solyndra-loan-guarantee/

[beckjr2000]

12:31 PM on 12/12/2011

Author Peter Schweizer’s research indicates that of the $20.5 billion in the DOE’s 1705 Loan Guarantee Program, $16.4 billion in taxpayer money–roughly 80% of all loans in the program–went to green enterprises “either run by or heavily owned by Obama financial backers–individuals who were either bundlers, members of Obama’s national finance committee or large donors to the Democratic Party.”

[SpeakupNation]

01:00 PM on 12/12/2011

Schweizer is not a neutral or reliable source.

[beckjr2000]

01:23 PM on 12/12/2011

Let's see there of course the $535 million to Solyndra everyone knows about. Then there is the $529 million that went to Fisker Automotive for electric cars made in Finland, Al Gore is a principle there. Then there's the Tonopah Solar Project where Ron Peloci has a piece of the action. They got $737 million. Then there's Sunpower Solar where George Miller (D.Ca) son is a lobbyists. They got $1.2 Billion. How about the Ivanpah Solar Project they got $1.4 billion and Robt. Kennedy Jr.'s company BrightSource is a principle there. Of course it doesn't hurt that Sanjay Wagle, former CEO of BrightSource now helps direct who get Federal Loans for the Obama Administration. How about NextEra Energy? They got $2 Billion in Federal loans in August. Their CEO, Lewis Hey sits on Obama’s council of economic advisers. No conflict there is there?

In 2009, President Obama had promised that the allocation of all federal stimulus monies would be nonpartisan, ethical, and fair. “Let me repeat that: Decisions about how Recovery money will be spent will be based on the merits. They will not be made as a way of doing favors for lobbyists,” Obama said.

RIGHT!!!!

[deeznutz76]

02:25 PM on 12/12/2011

And where do you get all of your wonderful sources?

[kburgoyne]

12:18 AM on 12/13/2011

So basically what you're saying is that the green energy industry didn't think it wise to support Republicans. Gee... wonder why that might be...

[beckjr2000]

09:17 AM on 12/13/2011

You do realize that your making an assumption? To begin with renewable energy is still in it's infancy. Second, almost every company listed getting Government Loans have direct Democratic Political involvement. I simply saying that unless there is a political connection with the Democratic Party the odds of getting a Government subsidy are about 20%. This is more about how much taxpayer money the Democrats can steal than energy development.

[vobox3343]

10:58 AM on 12/12/2011

Does this amount even come close to the overpayments made to Haliburton. By the way, what is it they're doing in Iraq, other than collecting welfare?

[intolleft]

02:01 PM on 12/12/2011

Tu quoque? Really?

[Organic-Guy]

10:30 AM on 12/12/2011

Cost of Iraq invasion-4,485 US Soldiers Killed, 32,219 Seriously Wounded, Spent & Approved War-Spending - About $1 trillion of US taxpayers' funds spent or approved for spending through 2011, Lost & Unaccounted for in Iraq - $9 billion of US taxpayers' money and $549.7 milion in spare parts shipped in 2004 to US contractors. Also, per ABC News, 190,000 guns, including 110,000 AK-47 rifles.

Lost and Reported Stolen - $6.6 billion of U.S. taxpayers' money earmarked for Iraq reconstruction, reported on June 14, 2011 by Special inspector general for Iraq reconstruction Stuart Bowen who called it "the largest theft of funds in national history." (Source - CBS News) Last known holder of the $6.6 billion lost: the U.S. government., Missing - $1 billion in tractor trailers, tank recovery vehicles, machine guns, rocket-propelled grenades and other equipment and services provided to the Iraqi security forces. And where is our net benefit. show me what we as a people got for all this divisve politics, death and expense?
Yes, let's put all that behind us and obsess on this knit you dumb baggers. Issa is the best example of crony capitalism with a net worth of about 250 million himself and Rove is one of the biggest snake oil salesmen in this history of the world who probably hasn't told the truth about anything since he was 4 years old.

[Stopinstigating]

10:28 AM on 12/12/2011

From http://www.npr.org/2011/09/16/140530082/weekly-standard-solyndra-debacle-blame-bush:

'By the time the Obama administration took office in late January 2009, the loan programs' staff had already established a goal of, and timeline for, issuing the company a conditional loan guarantee commitment in March 2009,' said Jonathan Silver, who heads the Energy loan program.

Republicans pushed back hard against this version of events, unearthing internal Energy Department emails that indicate the panel evaluating the loans had made the unanimous decision to shelve Solyndra's application two weeks before Obama took office."

If the first consideration of Solyndra came during the presidency of George W. Bush, that means that the application for the loan guarantee came after the Energy Policy Act of 2005 was passed. Clearly, this type of loan guarantee program was not a Bush Depratment of Energy (DOE) priority. The fact that Solyndra submitted a loan application does not mean the Bush White House or DOE approved the program or did more than accept the application and shuffle the paperwork a bit. And the DOE emails mentioned above appear to confirm that is all that happened.

It only became a White House priority after Obama took office.

[doctorzap]

10:13 AM on 12/12/2011

If I remember correctly, Bushwa was tied very closely to an Energy company called Enron, which cost the citizens of CA billions of dollars. But I don't remember any of the Regressives or their flunky talking heads complaining too much or going after him about that.

[beckjr2000]

12:47 PM on 12/12/2011

Enron was closely connected to both parties and as the San Francisco Chronicle put it in 2002 "Enron's tentacles ran so deep in Washington's political establishment that 71 setting senators and nearly half the current House of Representatives received Enron money during the past decade, including some who now investigate the company's bankruptcy." Ken Lay visited the White House at the invitation on President Clinton as well.

[SpeakupNation]

12:58 PM on 12/12/2011

Oh come one, it is just disingenuous to equate Dems involvement with Enron and that of Bush. W called Ken Lay 'Kenny Boy' for God's sake! They were tied at the hip, and if we would get a hold of the meeting lists that Cheney doesn't want us to see, we would likely see that they helped write Bush's energy policy.