It is widely recognized that the Obama administration has transparently directed government money to secure his partisan voter blocks for his re-election. No where is this cronyism more evident than with his “green” environmental constituency. And, names like Solyndra, First Energy, Tesla Auto, Vestas, Abound Solar, SoloPower and others have become synonymous with President Obama’s buying votes and expanding the perverse co-dependency of evermore Americans and American businesses on government gifts such as loans, grants and tax credits in the renewable energy arena.
Obama-favored renewable energy sources such as wind, solar and other unproven alternatives have received the lion’s share of deficit-growing (and now exhausted) federal government subsidies while traditional petroleum, hydro-power, coal and nuclear sources that reliably provide 95% of American energy have been demonized by Obama.
One of U.S. Energy Department Secretary Steven Chu’s programs designed to promote use of alternative fuels for vehicles gave out $5 million in grants to individuals with conflicts of interest, according to the agency’s inspector general. Chu’s “Clean Cities” program gave this money to an individual who in turn gave money to a family member’s company. Another eco-group that government trusted to distribute federal money gave 40% of the funds to entities associated with its board members. The Clean Cities program was given $300 million to distribute to companies and community organizations through the economic stimulus package Congress approved in 2009. (Bloomberg, July 26, 2012)
The myopic progressive rush of U.S. and European Union governments to switch to green renewable energies in the midst of a global economic recession is failing – and should. Renewables will continue to falter because everything green and renewable costs more than conventional energies. Germany’s powerful, liberal Green Party has caused its Parliament to abandon nuclear power. Germany once embraced nuclear energy, with 18% of its electric power from nuclear plants — similar to the U.S. Germany’s Karlsruhe Institute of Technology has projected that replacement of their nuclear power with wind, solar and biofuel energies will raise electricity prices by 70% by 2025. (The Economist, July 28, 2012) Not only are the costs inflationary, the real risk is that renewables will not at any cost replace conventional energies.
Subscribe free to this Column by clicking the blue-highlighted +Subscribe line below author’s title.