A Project of The Annenberg Public Policy Center
FactCheck.org is celebrating 15 years of holding politicians accountable.

Obama’s Solyndra Problem

Obama’s Solyndra Problem

President Obama exaggerated when defending his administration’s approval of a $535 million loan guarantee to Solyndra, a now-defunct solar company.
Obama referred to Solyndra’s loan at an Oct. 6 press conference as “a loan guarantee program that predates me.” That’s not accurate. It’s true that the Energy Policy Act of 2005 created a loan guarantee program for clean-energy companies developing “innovative technologies.” But Solyndra’s loan guarantee came under another program created by the president’s 2009 stimulus for companies developing “commercially available technologies.”

Distorting Obama

Summary

McCain released a Web ad that distorts Obama’s positions on clean-energy innovation and nuclear power.

The ad portrays Obama as saying "no" to energy "innovation" and to "the electric car." In fact, Obama proposed a $150 billion program of research into a wide variety of clean-energy technologies last year, long before McCain proposed to award a $300 million prize for developing a commercially viable battery package capable of powering automobiles.
The ad also has Obama saying "no"