President Obama was interviewed by Radio Marketplace last week and explained his energy policy.
He says he is doing the all of the above strategy correctly. He says Solyndra failed because China was flooding the market in ways that Solyndra could not compete. And then he says Solyndra is not his program.
If you want to listen to his full 12 minute interview, click here.
“This was not our program, per se,”
“Congress — Democrats and Republicans — put together a loan guarantee program because they understood historically that when you get new industries, it’s easy to raise money for start-ups, but if you want to take them to scale, oftentimes there’s a lot of risk involved, and what the loan guarantee program was designed to do was to help start-up companies get to scale.”
By the way, it is NOT easy to raise money for a start up. Startups bear a lot of risk and many venture capitalists are unwilling to invest in them.