President Obama pushed for expanding wind energy and advanced energy manufacturing subsidies at the wind turbine manufacturer TPI Composites in Newton, Iowa, today. These subsidies have and continue to enjoy bipartisan support precisely because they benefit both Republicans and Democrats come election time, when they can say they helped create jobs for their district and state. But targeted tax credits and other subsidies are wasteful and economically destructive for four fundamental reasons: Subsidies destroy jobs elsewhere. If you subsidize anything enough, you’re bound to find producers to take advantage of …
As Americans across the country gear up for Memorial Day, they have welcomed the recent dip in gas prices. Although gas prices are down nearly 20 cents per gallon from one month ago, the average price in the United States remains uncomfortably high at $3.68 per gallon. AAA projects Memorial Day travel will be similar to that of 2011, slightly increasing by 1.2 percent. The news, really, is that these high gas prices aren’t news anymore. Consumers have grown accustomed to $3.50 or $4 per gallon on the signs at …
In its pitch for a federal clean energy standard (CES), The Washington Post’s editorial board asks, “Will America do anything significant to slow climate change?” Assuming America actually needs to do something to slow climate change, even if the Post’s editorial board got its wish for a CES, America still wouldn’t be doing anything to slow climate change. Senator Jeff Bingaman’s (D–NM) Clean Energy Standard Act of 2012 would require at least 24 percent of U.S. electricity generation to come from politically defined “clean energy” sources by 2015. The mandate …
Typically, comprehensive pieces of energy legislation expand the government’s authority over the energy economy rather than minimize it. The 2005 and 2007 energy bills are good examples, and probably the most expansive was the failed cap-and-trade in 2009. And most recently the House-proposed water and energy appropriations bill continues to waste taxpayer dollars by spending on fossil fuel and nuclear energy programs that the private sector should undertake. The current state of America’s energy policy is far from a market-driven one. Subsidies, loan guarantees, targeted tax credits, and mandates pick …
In his time in office, President Obama has made some seriously bad proposals and decisions on energy policy, and Americans are paying the price, whether it’s in higher energy costs, wasted tax dollars, or in jobs that have been left on the table. For those who aren’t keeping track, we’ve compiled a list of the President’s ten worst energy policies: 1) Saying “NO” to Keystone XL: With oil prices going through the roof, the best way to drive down prices is to increase the supply of oil and it can be done …
Several news outlets are reporting that President Obama will call for expediting the permitting process for southern part of the Keystone XL pipeline when he visits Cushing, Oklahoma, this week. Expediting the permitting process for a part of the pipeline is great, and the quicker we can move forward with Keystone the better, but can it really be considered expediting if the project should have already been approved? The answer is no. President Obama rejected the original permit application for Keystone XL submitted by TransCanada. The entire pipeline project spans …
President Obama blasted oil-drilling advocates last week, equating their solution for high gas prices to people who didn’t believe the Earth is round. President Obama said, They dismiss wind power. They dismiss solar power. They make jokes about biofuels. They were against raising fuel standards. I guess they like gas-guzzlers. They think that’s good for our future. We’re trying to move towards the future; they want to be stuck in the past. We’ve heard this kind of thinking before. Let me tell you something. If some of these folks were …
Reuters reported that President Obama and Prime Minister David Cameron discussed jointly releasing oil from emergency reserves. Although the White House denied the report, releasing oil from our nation’s Strategic Petroleum Reserve is still not a good idea. The Strategic Petroleum Reserve (SPR), managed by the Department of Energy (DOE), exists for moments of national crisis when there is a dramatic disruption in oil supplies. The current high prices at the pump are a national concern, but playing politics with a national security asset is not the way to address …
Gas prices and the approval of President Obama’s management of the issue are heading in opposite directions. As the price at the pump continues to climb, his approval rating for handling gas prices is a meager 26 percent—the lowest of any of the polled questions. Much of what’s led to high prices, such as increased global oil demand and a weak federal dollar, is out of the President’s control; thus, it’s unfair and disingenuous to lay all blame for high gasoline prices on President Obama’s shoulders. The President does deserve …
Two of the amendments offered as attachments to the highway transportation bill are completely at odds with one another. Senator Debbie Stabenow’s (D–MI) amendment continues the status quo of government dependence, technological stagnation, and wasted taxpayer dollars by extending tax credits for a whole host of energy sources: wind, cellulosic ethanol, biodiesel, alternative refueling infrastructure, energy efficient home investments, plug-in electric vehicles, refined coal, and algae, as well as cash grants in lieu of tax credits. Senator Jim DeMint (R–SC) and Senator Mike Lee’s (R–UT) amendment seeks to remove the …
