Hearing of the Subcommittee on Green Jobs and the Economy - Flawed Green Experiments

Statement

U.S. Senator Jeff Sessions (R-AL), a member of the Senate Committee on Environment and Public Works, raised concerns about flawed green job experiments, including the Solyndra bankruptcy, yesterday at a hearing in the Subcommittee on Green Jobs and the Economy. Senator Sessions also discussed how higher energy costs caused by the Administration's policies are harming the economy. In his opening remarks, which were submitted for the hearing record, Senator Sessions stated:

"Beyond restraining EPA, there is a better way to create jobs. It starts with honest, long-term policies that will create a long-term growth trajectory. That means, first, the cessation of more spending and borrowing. Our nearly $15 trillion debt is a drag on our economy now, and more wasteful spending will ultimately leave us worse off. That is why the Solyndra debacle is so alarming. Solyndra received a $535 million loan guarantee under an energy program created by the President's failed 2009 stimulus bill. While the investigation is ongoing, there is strong evidence that the Administration rushed its review of Solyndra's loan application. Even after auditors raised "substantial doubt about [Solyndra's] ability to continue as a going concern," the Administration agreed to restructure Solyndra's loan to give private creditors a priority over the taxpayers in the event of default. This raises very serious questions that must be answered. With Solyndra now bankrupt, the taxpayer stands to lose hundreds of millions of dollars.

We should focus on real solutions that create permanent jobs without creating more debt, wasting taxpayer dollars, or over-regulating the economy. For example, a recent study found that almost 190,000 new jobs could be created next year if energy production in the Gulf of Mexico returned to pre-moratorium levels. We can create thousands of new American jobs by tapping our natural gas supplies. A study by the American Chemistry Council found that a modest increase in natural gas supply from shale deposits would generate more than 400,000 new jobs in the U.S. Building new nuclear units can also create jobs and provide affordable, safe energy. In Alabama, TVA has announced plans to complete a nuclear reactor unit at the Bellefonte site in north Alabama. The construction phase of that project will create thousands of jobs in North Alabama and, when operational, over 650 employees will have permanent jobs at the Bellefonte nuclear plant.

Whether we call them "green jobs" or "red white, and blue" jobs, American energy must play a central role in our efforts to create more American jobs today."

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