26 Oct '11, 11am

Republican calls for investigation into Obama's green car loans: US republicans are calling for the investigatio...

US republicans are calling for the investigation into the Obama administration’s Green Energy Loan Program to extend to loans to green car companies Tesla and Fisker . According to The Detroit News , Republican presidential candidate Mitt Romney wants Congress to examine the Obama administration’s decision to loan nearly $1 billion to the two electrified car makers. Republican representatives are becoming increasingly vocal about the way that money was handed out for ‘green’ projects following the bankruptcy solar panel maker Solyndra LLC, which took a $528 million federal loan before folding earlier this year, making over 1,100 employees redundant. Now with Fisker more a year behind in its production of its luxury range-extended electric car, the Karma, President Obama seems certain to have the program’s decision to loan Fisker $529 million thoroughly scrutinised. Republi...

Full article: http://www.thegreencarwebsite.co.uk/blog/index.php/2011/1...

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