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Were green energy investments worth the gamble?

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    Congressional leaders question the spending

  • Duration 2:22
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All right now lawmakers want to know -- bets placed on Green energy with your money.

Are actually worth the gamble it's a bit of an audit -- investments by the Obama administration in clean energy and Green jobs.

-- those investments costing taxpayers nearly 100.

Billion dollars.

As is true of most portfolios at all these investments had paid off as you probably know.

I -- -- -- failed despite receiving more than half a billion dollars in taxpayer money.

Now the solar panel company's production facility.

It's for sale is part and bankruptcy proceedings that's just one example but is prompting some new questions about what other federal spending.

I'm Green energy has actually at -- -- Chinese live in Washington with more on -- so Steve what's emerging from the hearing that's under way right now.

A very interesting -- -- at today's hearing congressman Darrell -- said there's evidence of form of political influence with a direct link to the White House.

In a solar energy project called bright source in California -- Mojave Desert.

It was a one point six billion dollar loan guarantee even larger than the one for the bankrupt Solyndra solar company which triggered these congressional hearings.

In general -- say Republicans the president has not kept his promises on these Green energy loans.

-- promise that our country would create millions of Green jobs.

Which would help us compete in the global economy.

However three years into this gamble available evidence demonstrates these efforts have wasted vast sums of taxpayer money.

And -- failed to achieve the stated goals.

Now the president of bright source testified his project was awarded the government loan guarantees solely based on its merits -- Sailors and the Republicans perspectives on this what about.

The Democrats who has the White House saying about this hearing.

Well the White House points out that more than a year after these Solyndra probe began there's still no proof that any political influence was brought to bear.

And Democrats in congress defend the loan guarantee program let's listen.

Investing in energy independence is critical to America's national security its economic growth and future job creation.

If we fail to support these emerging renewable energy technologies are contrary will fall behind countries.

Like Germany and China.

Energy company officials testified today at this hearing the government investments have given energy and needed to boot.

-- Jenna -- in town in Washington today Steve thank you.

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