WSJ: The President’s Venture Capitalist

“Energy Secretary Chu has been dismissing his Solyndra critics with mock apologies…”

The Wall Street Journal editorializes,

“Hindsight is often said to be 20/20,” [Chu] said last week. “In this case I think some of the hindsight was 20/10, or even better—clairvoyant.” Ho ho ho. Maybe Mr. Chu will be more contrite when he pays a visit to the House Energy and Commerce Committee Thursday, but for now let’s step back and review the story of this fiasco…

Much of the Washington debate now turns on whether Mr. Chu showed favoritism toward such Solyndra investors as the Tulsa billionaire and Obama fundraiser George Kaiser, or whether such political connections were incidental to a well-vetted play that simply didn’t pan out. This deserves scrutiny but it misses the larger point: Every green energy firm has some kind of political connection, given that the entire industry is a creation of the government. [Emphasis added]

Read the Wall Street Journal editorial (subscription required).