Chortling At Chu
Investors Business Daily
Our secretary of energy pushes bio-refineries and windmills to oil executives at an energy conference as the administration announces a three-year offshore drilling ban. This is a policy for economic suicide.
They don’t qualify as an official group of victims, but carbon-Americans, as they have been called, did not have much to cheer about last week, when Energy Secretary Steven Chu addressed CERAWeek 2010, a premier industry conference hosted by IHS Cambridge Energy Research Associates.
With an economy struggling to regain sound footing, Chu advocated a starvation diet devoid of additional fossil fuels that are to remain under the ground and seabed. Instead, he supports 53% more funding for wind research and a 22% jump for solar research.
Subsidizing alternative energy fits the classic definition of insanity. Despite huge subsidies, it has proved to be neither cost-effective nor a reliable, significant contributor to our national power grid. Yet we keep subsidizing it, expecting a different result.
“Oil is an ideal transportation fuel, so it will be with us for decades,” Chu conceded, even as the administration forbids us from getting more of it here, creating energy jobs, lowering energy costs and cutting our trade deficit. Instead we’ll rely increasingly on foreign and often unfriendly suppliers.
Chu acknowledged the role cleaner-burning natural gas can play in electricity generation, but only as a “transition to other fuels” in coming years. And the administration continues to gobble up lands where it might be found and impose environmental regulations that curtail the use of new technologies such as fracking to get more oil and natural gas from America’s vast shale deposits.
For decades Democrats have blocked efforts to responsibly develop this nation’s energy resources, transforming vast areas of opportunity into “The No Zone.”
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Wild Thing’s comment……..
We are being led by incompetent people! Another Obama train-wreck.
The Russians and Chinese are laughing their asses off at our country.
His whole office is filled with a bunch of imbeciles. The Government recently took a couple of million acres in the Western part of the United States ( for monuments no less) and guess what, thats where a lot of our Oil reserves are buried under ground. In reality we don’t have to go off shore, but we do because, the government in all of it’s infinite stupidity does stupid crap like this.
This Chu is the same A**hole, who suggested painting our roofs white. These people are braindead.
Government is the hand of doom. Any time you see the word “subsidy” attached to something, guaranteed, it’s the hand screwing something up. Subsidies don’t work and are usually followed by some adverse unintended consequence. For every job created by a subsidy, probably 2 or three are lost as a result elsewhere. We are repeating the errors made during the Great Depression. The policy makers in Washington don’t have the faintest idea what makes an economy grow. Listen to ANY economist not connected to the Administration. They all say and predict the same results. None of it good.
Hi Jim,
I think they do have a clue as to what they are doing and it is succeeding for them. They must be stopped ASAP before they completely destroy and then take over everything in the guise of saving us. They are a despicable bunch and should be tarred, feathered and run out of town.
Hi Mark,
Is that just in the summer to reflect heat, then we paint them black in the winter to absorb heat.I guess that’s job creation for paint makers and roof painters.
WTF?
In the last few years we have discovered energy reserves onshore and offshore that could make us completely energy independant. Maybe even an energy exporter. The Marxists don’t want us to develop this energy because they want an economic collapse in America. Many of these Marxists are the same people whose extravegant lifestyles use a large quantity of energy.
Chu is socialist idiot and lapdog of obama.
Mark, it sure is, Obama has packed his administration solid with America haters and nut casses. Very extreme people and I bet some insane as well.
Oh yess that is what Chu wanted with the roofs. Thanks for pointing that out Mark. Crazy stuff!
Jim, thank you for that information about subsidy. Good point to remember too.
Tom, thank you for that and well said too. I wish more people would pay attention to exactly what you said.
$20 says he’ll let the f*cking chicoms drill there though.
Didn’t the interloper just give Brazil 30 million, to develop their off shore drilling??