Obama’s Energy Record

November/17/2011 16:18PM
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Let’s go back to the very beginning. Naming Dr. Chu to head the DOE was duly noted in this blog as a classic mistake. It was compounded by raising the green energy budget for Chu to spend by $77 billion bringing his little venture capital empire to $176 billion. A 1997 Nobel Prize winner in Physics with zero experience in picking investments, Solyndra is just the tip of the iceberg. If you are upset about losing a mere $450 million on that fiasco, wait until the real dogs in Chu’s portfolio start folding. This guy may have frittered away a hundred billion before it done. Putting him in this job is like making a community organizer, Nobel Prize winner President of the United States. Chu should go directly to jail right now. He should give the Occupiers something to really protest. How much new energy could we have developed for a mere $176 billion?

Then there’s Lisa Jackson, head of the EPA. We predicted her work at the time she was named. A socialist with an overzealous environmental plan, she has performed very well. Shutting down coal fired power plants with more to come. But, thanks to Chu’s bad investments and the reality that wind and solar are marginal power producers, she is shutting down existing power much faster that it is being replaced. And, she is forcing billions to be spent by industry for marginal environmental gain. Capital that would have been invested in projects that would have produced jobs.

Obama sent Hillary Clinton to Canada to tell them we don’t like their oil sand operations. Just as Canada was getting over that little visit, he now tells them he won’t approve the Keystone pipeline project to bring Canadian oil to the US Gulf Coast.

He tried to get cap and trade passed. A non-progressive energy tax that would have raised all energy costs for every American.

He gave Brazil a billion dollars for their off-shore drilling projects.

Despite a campaign promise to step it up, he has reduced offshore drilling projects. Cuba and Mexico are starting projects a few miles from our offshore borders, but not Obama. He put the moratorium in place after the BP explosion and most of the drilling platforms went to other countries to drill.

He put new auto mileage standards in place that will never be met. He put mandatory green energy power standards in place that will never by met. He talked about the grid but did nothing about updating it.

He is the top salesman for electric cars that are not being purchased.

He raided the Strategic Petroleum Reserve for political reasons when his programs caused a gasoline price run-up that created public outrage.

If reelected, Obama will preside over severe energy shortages and cost run-ups that will keep the economy in the tank for his second term.

If for no other reason, his energy record is enough to make a change. Europe has been on his program for years. Look at their situation. We need a rational energy policy here if we want economic recovery.

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