Oversight of the Department of Energy’s Stimulus Spending

March 20, 2012,

2154 Rayburn House Office Building

Chairman Issa Preview Hearing Statement

Today the price of gasoline is approaching $4.00 per gallon, twice its level in 2009.  American consumers understandably ask what the Department of Energy and the Obama Administration have done to address this.  But during the Obama Administration, you might say the DOE has been DOA when it comes to delivering affordable energy to consumers. 
 
A report released today by the Committee on Oversight and Government Reform paints a startling picture of mismanagement at the Department of Energy.  From the very inception of the Obama Administration’s $14.5 billion loan program, warning signs pointed to a likely loss of taxpayer dollars—these signs were largely ignored by Administration officials seemingly more interested in picking political winners and losers than addressing American consumers’ need for abundant and affordable energy.  There appears to be a significant amount of evidence indicating that DOE manipulated analyses and strategically modified evaluations in order to get loans out the door. 
 
The problems within DOE were not isolated to its handling of the loan guarantee program.  A second Committee report examines DOE’s $5 billion Weatherization Assistance Program.  It is a stunning example of how the Obama Administration has wasted millions of taxpayer dollars in a misguided effort to achieve energy savings by ultimately commissioning work that puts people’s lives and homes at significant risk—the result of lax oversight and mismanagement. 
 
By addressing the issues raised at today’s hearing, we can help put our country back on the path to achieve these two goals and deliver real benefit to the American people.