[Congressional Record (Bound Edition), Volume 158 (2012), Part 1]
[House]
[Page 1102]
[From the U.S. Government Publishing Office, www.gpo.gov]




             DEPARTMENT OF ENERGY'S LOAN GUARANTEE PROGRAM

  (Mrs. BLACKBURN asked and was given permission to address the House 
for 1 minute and to revise and extend her remarks.)
  Mrs. BLACKBURN. Mr. Speaker, it's an interesting thing: there are 
programs around here that are completely out of control, and one is the 
Department of Energy's Loan Guarantee Program that our Energy and 
Commerce Committee has been investigating for the past year. I'll tell 
you, I was thinking about an old country song when we were talking 
about this program today, which is: when you're in a hole, stop 
digging. That is certainly what applies to the Department of Energy's 
Loan Guarantee Program, and that is what DOE needs to do.
  We are seeking information to figure out exactly what has happened 
with taxpayer money. Now, everybody has heard about Solyndra. We all 
know how that has run off the rails. It went bankrupt; it wasted 
taxpayer money. Now we have Fisker, which is a company that received 
Federal loan guarantees. Right now, it's trying to renegotiate the 
terms of its initial loan. Guess what, now we find out that they're 
laying off employees--20 employees and 40 contractors.
  Yet, again, another Department of Energy Loan Guarantee Program, 
under the watch of Secretary Chu, is having difficulty, and Federal 
taxpayer money is being wasted.

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