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In his 2011 State of the Union address, President Obama challenged Americans to reinvent themselves for a new economy, especially in the area of “clean-energy technology.”

Obama said the nation must confront a new “Sputnik moment,” referring to the 1957 surprise launch of a Soviet satellite into space, and to “turn sunlight and water into fuel for our cars.” He wants one million electric vehicles on the road by 2015 and 80 percent of U.S. electricity to come from clean-energy sources by 2035. He’d pay for it by cutting taxpayer subsidies to oil companies.

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Energy Dept. oversight on loans is inadequate, GAO says

The Energy Department is mismanaging oversight of $34-billion in taxpayer-backed loans for green-energy and other projects, congressional auditors said Monday in a new report.

 

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