Rep. Joe Barton (R-Texas), Chairman Emeritus and senior Republican on the Energy and Commerce Committee, released the following statement about Wednesday's hearing entitled "Solyndra and The DOE Loan Guarantee Program."
"I am a supporter of the Department of Energy loan guarantee program. When implemented efficiently, these loans are given to companies to help invest and grow alternative clean-energy technologies.
"The problem isn't the program, it is this particular loan. It is becoming increasing clear that there were warning signs that Solyndra was a bad bet. In January of 2009, a DOE staff member said, "this project is going to run out of cash in September of 2011.' How prophetic was that?
"President Obama's strong desire to make Solyndra a green energy success story failed and taxpayers are on the hook for more than a half a billion dollars. It is our duty to find out how and why that money was wasted."