So BrightSource has its government loan, and PG&E has committed to buying BrightSource’s expensive solar power, instead of cheap natural gas, in order to fulfill California’s renewable electricity generation requirement. – Washington Examiner

 

By Diana Furchtgott-Roth at Washington Examiner

EXCERPTS:

Power corrupts, even at highest levels of government. Even in the White House. That’s the message from the government’s energy loan guarantees, as revealed by a little-reported House Government Reform and Oversight subcommittee hearing last month.

 

At issue was the approval of loan guarantees for BrightSource Energy, a politically connected corporation whose chairman, John Bryson, became Obama’s secretary of Commerce last October.

 

John M. Woolard, president and CEO of BrightSource Energy, testified that his company’s $1.6 billion loan guarantee for a solar power plant “was awarded completely on the merits of the project.”

 

But Chairman Jim Jordan, R-Ohio, produced an email from Woolard to Energy Secretary Steven Chu’s senior advisor, Matt Rogers, that hints the White House might have been involved.

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