ABC News on Green Energy

http://www.futureofcapitalism.com/2011/03/abc-news-on-green-energy

"Did the Obama Administration Play Favorites With Energy Loans?" is the headline over an ABC News piece that begins:

When the White House announced the federal government would loan $465 million to Tesla, a California start-up company with plans to develop an all-electric sedan, President Obama called it an "historic opportunity to ensure that the next generation of fuel-efficient cars and trucks are made in America."

The loan also represented a lucrative opportunity for Steve Westly, a major investor in the car company who had raised more than $500,000 for the president's campaign.

In 2009, the U.S. Department of Energy lent more than half a billion dollars to companies backed by Westly's California venture capital firm. In 2010, the White House tapped Westly for a seat on a special energy advisory panel that gives him regular access to Energy Secretary Steven Chu. Westly boasts on his website that his firm is "uniquely positioned" to take advantage of the Obama administration's interest in green energy.

It'd be a better headline without the question mark, but it's nice to see a network news outlet other than Fox nosing around the "clean" energy beat.

by Ira Stoll  |  Mar 30, 2011 at 3:44 pm Related Topics:  Auto Industry, Candidate Interviews, Energy receive the latest by email: subscribe to the free futureofcapitalism.com mailing list