Government
3:22 pm
Wed March 14, 2012

Sen Paul Opposes Alternative Energy Loan Program

US Senator Rand Paul says the federal energy department should stop its loan guarantee program for companies developing alternative energy products. The Kentucky Republican told Energy Secretary Steven Chu Tuesday some of the loans have gone to wealthy friends of President Obama and that raises questions about the whole program.

“My counseling and advice to you is ‘Let’s get out of this business. Let’s not be involved in this.’ Also, the thing is, by your involvement in this, it looks unseemly. I don’t question your character. You’re known for being an upright person from academia. But you’re overseeing something that doesn’t pass the smell test.”

Paul says Robert Kennedy junior was given a one-point-eight billion dollar loan under the program. The senator made his comments during a hearing of the energy and natural resources committee.