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Inspector general warns Biden admin’s $400 billion green energy loan program is ripe for abuse

U.S. Department of Energy (DOE) Inspector General Teri Donaldson issued a stark warning Thursday that the Biden administration is not properly equipped to manage a behemoth $400 billion green energy loan program.

Donaldson — whose remarks were delivered during testimony before the Senate Energy and Natural Resources Committee on Thursday — said the current structure of the Department of Energy’s massive loan program brings “tremendous risk to the taxpayers.” She further warned that there is substantial risk federal green energy awards will be made to entities with foreign entanglements that may go undetected.

“You have massive amounts of money moving quickly,” Donaldson said. “All of these things happening at once create a level of risk that may, candidly, be unprecedented in terms of amounts of federal money moving in such a complicated landscape.”

“On the issue of not funding our adversaries, I am greatly concerned about how things are going in that regard,” she added. “The department has set up a vetting center, which is a step in the right direction. But it is now six months old, it has three employees, it has no written procedures. There is no clear path on what projects will be vetted, what the criteria will be used when they are vetted. It has a very, very long way to go, and that’s of huge concern to me.”

“More and more we are seeing reports detailing how researchers connected to China’s military and intelligence services have penetrated our university system and research institutions, exploiting an atmosphere of open inquiry and free exchange of ideas to pilfer intellectual property,” it continued. 

“We need to wake up to the threat, not finance it. The IRA should not be used to fund America’s Chinese competitors. Unfortunately, it appears few real safeguards are in place to prevent this misuse of taxpayer dollars.”

Thomas Catenacci is a politics writer for Fox News Digital.

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