I just took a motorcycle trip out west of San Antonio, Texas and for most of the 300 plus miles I had to navigate a solid line of vehicular traffic composed primarily of trucks related to the production of oil and gas.
It was an annoying trip at times, but I was very happy that we had Americans employed here in Texas, and that we were doing our part to support bringing down our dependence on foreign oil. I have posted previously on the fallacy of current efforts to create what has become known as "Green Energy". I believe the only thing green about the industry is the amount of tax dollars we are pouring into companies that produce very little and employ very few. Recent scandals and bankruptcies in these tax supported scams have shown that much of the money has gone to political supporters of Barack Hussein Obama.
I am for a dual program that uses solid research and development of new energy resources along side of the streamlining and updating of our current energy resources. We need to free ourselves of any dependence on oil from the middle east. We also need to take an honest look at what has been touted by democrats as the way out of our economic woes. Read the following article and pay particular attention to the real story of job creation for American workers as it relates to "Green Energy."
The Obama administration has consistently promoted subsidies for “clean”
energy technologies like wind and solar while charging that the oil and gas
industry benefits from excessive taxpayer support.
But in fact subsidies for the oil and gas sector aren’t all that large when
compared to the amount of energy being produced, while the “green” economy is
not creating large numbers of jobs, according to a new report by Robert Bryce,
senior fellow at the Manhattan Institute for Policy Research.
President Barack Obama’s budget proclaims: “We should not devote scarce
resources to subsidizing the use of fossil fuels produced by some of the
largest, most profitable companies in the world. That is why the Budget
eliminates inefficient fossil fuel subsidies that impede investment in clean
energy sources and undermine efforts to address the threat of climate change.”
The reference to the “largest, most profitable companies” reflects the
administration’s antipathy toward the hydrocarbon sector, Bryce asserts.
Apple Inc. has a market capitalization of $475 billion and a profit margin of
25.8 percent. Meanwhile, BP, the biggest producer of domestic oil, has a market
capitalization of $147 billion and a profit margin of 6.8 percent.
Apple is three times as large and nearly four times as profitable as BP.
Apple has virtually no manufacturing jobs in the United States and imports
nearly everything from China. Meanwhile the domestic oil industry last year
exported about 1 billion barrels of crude oil and refined products.
The administration shows no such antipathy toward the “clean” energy
industry. In fact, between 2009 and late 2011, under the American Recovery and
Reinvestment Act of 2009, the administration handed out $2.6 billion in tax-free
grants to just four companies, all them board members of the American Wind
Energy Association, Bryce discloses.
Two of those firms are foreign-owned — the Spanish energy company
Iberdrola, which got $1 billion in grants, and German giant E.ON, which received
$542 million.
A third firm, Terra-Gen, is building a wind farm in California that will
create only about 50 permanent jobs — that works out to around $9 million per
job.
The oil and gas industry, on the other hand, received “subsidies and support”
totaling $2.82 billion, and that was spread among the 14,000 oil and gas
companies operating in the United States.
The report notes that domestic oil production is now increasing, natural gas
production is surging, driving down prices, and over the past five years about
158,000 new oil and gas jobs have been created, many of them high-paying.
Bryce concludes: “The Obama administration continues to vilify the very
industry that’s helping spur eco¬nomic growth. America doesn’t need more slogans
about ‘clean’ energy. It needs more cheap, abundant, reliable energy.”
To invent, you need a good imagination and a pile of junk. - Thomas A. Edison
Oh! This was where I read that quote. Just shared it today with John. (He likes junk.)
ReplyDeletePappy, you are always on the mark. When you are away from blogging, I think of you out on your motorcycle enjoying a road trip. Take lots of them in this season while you can truly enjoy them. Hope that your wife is able to travel along with you as well.
Politics have become a matter for perpetual prayer...
Thanks Vee, The weather has been so different this Spring, I have only been riding when I can find a string of two or three days without rough weather along the route. I am doing some wool gathering and trying to figure out what is not being said by everyone else. I appreciate your kind words. Don't forget to set your clock forward tonight.
ReplyDelete