11/01/2011

More conflicts of interest in Obama giving out money to "green energy" firms

Yet another problem. From Fox News:

A clean-energy firm led by a member of President Obama's jobs council has a stake in projects that have reaped nearly $2 billion in loan guarantees from Washington, a case that has raised conflict-of-interest concerns as the same jobs council pushes for more "government-backed" investment in renewable energy.
The company, NextEra Energy, secured a loan guarantee in August for a solar project in California. An affiliate has taken over another California project that won a separate guarantee in September. The firm is no lightweight -- NextEra Energy Resources, the subsidiary working on both solar projects, is the biggest producer of wind and solar energy on the continent.
But the company also enjoys a connection to the Obama administration -- company Chairman and CEO Lewis Hay sits on the president's Council on Jobs and Competitiveness, which last month issued a report calling, among other things, for a new federal financing program to attract private investment for clean energy projects via loan guarantees and other tools. . . .

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