Karl Rove’s Crossroads GPS has the latest ad that piles on with Solyndra smears, seeking to scapegoat clean energy investment for political points. The Crossroads ad “Typical,” released in a national buy, attacks Solyndra — a company once backed by private investors of all political stripes and the Bush administration — as an opportunity for the Obama administration to supply handouts to donors:
Rove’s ad follows a similar one from the Koch brothers, part of a disturbing trend of fossil-driven politics that attacks not only environmental protection but even clean energy business.
Contrary to the ad’s fear-mongering tone and surrounding media witch hunt, the consequences of Solyndra’s bankruptcy have been completely distorted. A recent Bloomberg Government report found Solyndra’s loan constitutes less than one percent of all federal loan guarantees, concluding “the focus on Solyndra is not proportional to its impact.” If conservatives’ witch-hunt cut off federal commitment to renewable energy, it may “jeopardize the remaining projects under review, calling into question the potential of new-to-market energy projects” for renewable energy. Bloomberg reports that ending investment in renewables would generate no budget savings, but it would cause great harm to the industry.