Array
During a blistering Senate Appropriations Committee hearing, Sen. John Kennedy (R-La.) was visibly floored after Energy Secretary Christopher Wright dropped a bombshell: the Department of Energy handed out a staggering $93 billion in loans and commitments during the final 76 days of the Biden administration, a figure that more than doubled the loan total from the previous 15 years combined.
Kennedy, in classic fashion, drilled in with precision. “The 76-day period you’re talking about, that’s the period between the time that President Trump was elected and President Biden left office. Is that right?”
“That is correct,” Wright confirmed.
Kennedy didn’t mince words when he asked how any agency could properly vet such massive spending in such a short window. “How do you do due diligence on one loan, much less $93 billion?” he asked.
Wright’s answer was damning.
“I think it’s probably pretty clear it wasn’t done in many cases,” he said. “There were commitments made from businesses that provided no business plan, no numbers about their own financial solvency, or how this project actually worked.”
The senator appeared almost incredulous and asked for clarity: “So, so you’re telling me that the Department of Energy in the 76-day period before their boss was gonna leave office, gave or loaned money to, to entities that had no business plan?”
“Correct,” Wright replied bluntly.
