Senate Republican Supports DOE Loan Review

By Mike Hothi

Senator Lisa Murkowski (R-Alaska) today welcomed the news that President Obama has ordered an independent investigation into his Department of Energy’s renewable energy loan program.

“I welcome the administration’s decision to conduct a serious review of the stimulus loan guarantee program,” Murkowski said in a statement. “An independent review will serve as a complement to, but not a replacement for, continuing congressional oversight of this matter.”

The White House announced the decision on Friday after being pressured for weeks due to a $535 million loan that was awarded in 2009 to Solyndra, a solar power manufacturer that went bankrupt despite receiving the millions in federal aid.

House Republicans are preparing for a possible vote this week to subpoena White House documents related to Solyndra.

This morning, it was reported that Beacon Power Corp., a solar company that was awarded $43 million in loans as part of the 2009 stimulus package, has also filed for bankruptcy.

Murkowski, the top Republican on the Senate Energy and Natural Resources Committee, which oversees the DOE, suggested that the committee should also investigate the loan guarantee program.

“Every step that can be taken – whether public hearings in the committees of jurisdiction or an independent review – is appropriate at this time,” she said.

Currently, there are no scheduled hearings in the Senate.