No More Solyndras Act

Floor Speech

Mr. BOUSTANY. Mr. Speaker, I rise today in support of the No More Solyndras Act. It ensures that taxpayers are never left on the hook for hundreds of millions of dollars for any future President's risky bets. This legislation phases out the Department of Energy's flawed loan guarantee program. It seeks to stop future debacles like the recent $535 million loan guarantee for the California solar panel manufacturer called Solyndra.

This administration refuses to promote legitimate and safe domestic energy resources by issuing moratoriums in the Gulf of Mexico and needlessly delaying very important projects like the Keystone pipeline. Instead, it chooses to roll the dice on unproven technologies that result in bankruptcies with hundreds of millions of wasted taxpayer dollars. That's not a way to move forward.

In south Louisiana, we know when it comes to energy production, domestic resources are waiting to be tapped safely, environmentally sound. Whether it's oil or natural gas or any other source, we must harness the resources of our land to create jobs here at home and to make sure that hardworking families aren't forced to feel the pain at the pump.

Source