Obama's Failed "Green Energy" Policy
How much more proof does President Obama need that his “green jihad” is a failure? The greatest problem is that it has failed on two fronts. First, he and his administration have subsidized and/or granted loan guarantees to green energy projects regardless of feasibility. Second, he has all but shut down fossil energy production and exploration.
Through its Department of Energy (DOE) loan guarantee program, it has backed loans for “green energy” projects for $35.9 billion of taxpayer dollars. Obama’s DOE has a less than stellar record so far. And much of the “stimulus” money earmarked for green energy projects went to companies outside the U.S.
So the question is, “Why does Obama continue, through the DOE, to hand out loan guarantees?” Well, as DJ Redman, in his article about the Federal Financing Bank (FFB), says, “…politicians are stuffing their campaign coffers, crony-capitalists, union bed-pals, friends, and relatives wallets, through mafia-style influence peddling.” And from this source (also provided by DJ Redman), we find that the FFB is giving out billions of dollars in loans to White House pet projects often at interest rates below 1%. So green energy projects are nothing more than for recipients to have money to contribute to favorite politicians. From this source, we find that the Obama administration was motivated by politics in its decisions on green energy loans, and that many of the loan recipients were donors or bundlers for Obama and Democrats. Peter Schweizer, author of the book, Throw Them All Out, wrote that at least 10 members of Obama’s finance committee and more than a dozen of his campaign bundlers took money from administration loan programs. Schweizer said that he believes that many of those who were chosen to receive loan guarantees, were picked almost solely for their success in raising money for the Obama campaign. There can be little doubt that DJ Redman is correct.
Two recent incidences characterize Obama’s fossil energy policy: the Keystone XL Pipeline (non)decision and the canceling of a major mineral lease in the Wayne (Ohio) National Forest (WNF).
This source provides information about the Keystone XL Pipeline, and this source provides information about Obama “passing the buck” on the pipeline decision. Ultimately the oil will be sold to China, who is investing heavily in the Canada oil production industry. The green energy environmentalists care nothing for inexpensive American energy, American jobs, or American national security.
President Obama’s Department of Agriculture (DOA) has delayed shale gas drilling in Ohio for up to six months by cancelling a 2006 mineral lease auction for WNF. The cancellation was taken in deference to environmentalists on the pretext of studying the effects of hydraulic fracturing, or fracking. The WNF study, the DOA says, “will focus solely on how it could affect forest land and not how it could affect groundwater.”
Obama made this decision in spite of the fact that it will delay 200,000 jobs, and that WNF already has about 1,300 oil and natural gas wells. One suspects that Obama took this action out of anger at Ohio. This cancellation comes just days after Ohio citizens voted to reject key provisions of Obamacare.
His foreign policy closely follows his energy policy. It can be described in one sentence: punish your friends (Canada, Israel, Poland, Mexico, etc.) and reward your enemies (Russia, Iran, Venezuela, etc.). And he particularly “has it in” for Canada, starting (in 2009) a trade war.
But that’s just my opinion.