First, I give White House Chief of Staff Bill Daley a standing ovation
for naming Herb Allison, who has served Democratic and Republican
administrations, to examine the energy loan program. Second, I strongly
support the loan program that was initiated during the Bush-43
presidency, and I applaud President Obama's increased efforts to promote
American energy independence and new energy sources that will create
the job waves of the future.
Here is the most important energy fact today: Oil is currently trading between $90 and $95 a barrel at a time when the American and European economies are slow, and even growth in China has begun to slow. Given the slow economy, oil should be trading far below its current price. When the economy does grow faster, oil prices will rise faster than the economy grows, slowing growth again and locking America into a growth and energy quagmire unless new energy sources are tapped.
Should the Solyndra loan have been better managed? You bet. Should the program be carefully examined in detail? Absolutely. This is why I applaud Daley’s move. He is doing the right thing, in the right way.
I have written before, and will write again, about the hypocrisy of Ron Paul, Rick Perry and other Republicans who supported energy loans while attacking the program. I do not quarrel with their support for the loans; I quarrel with their hypocrisy in supporting loans while opposing the loan program.
Even more, I deplore the hyper-partisan behavior of certain committees in the Republican House that aim their political guns in partisan attacks against Democrats but are hitting the target of American firms, American workers, American energy, American energy independence, American jobs and the American economic future.
I have written before, and will write again, that those most rooting for the success of these Republican attacks are the Chinese government and Chinese firms, the German government and German firms, and other foreign competitors who support their own industries and would like nothing better than the American government ending its support for our industries, as some Republicans propose.
The winners from these Republican attacks are those who favor Chinese energy, Chinese workers, Chinese companies and China's future, and the losers are those who support American jobs, American firms, American energy and the American economic future.
If the Chinese, German and other governments that want their companies and workers to dominate the energy future could get away with it, they would hire lobbyists with the specific mission of hurting American firms and American workers.
Sadly, our foreign competitors can rely on the Republicans to help their cause because while foreign competitors seek competitive advantage by supporting their industries, many Republicans want the United States to unilaterally end support for our industries.
So I applaud Bill Daley for taking strong and nonpartisan action to make sure our programs are well-run, and to eliminate whatever mistakes might have been made.
I applaud the president for his initiatives and believe what America needs are not Republican efforts to end American support for American firms and American workers, but an all-out Churchillian call to action for even more support for American jobs, American energy and the American future.
I do not want our kids to be forced to choose between $200-a-barrel oil, $7-a-gallon gasoline and clean-tech energy made in China or Germany, by Chinese and German firms, employing Chinese and German workers.
I stand with Americans, and ask our Republican friends to stop their partisanship and join me supporting the American team.