In his State of the Union address, President Obama emphasized, “We don’t begrudge financial success in this country. We admire it.” That may be the case if you make iPods, iPads, and iPhones, but when it is “big oil” (i.e., stockholders, pension funds, and IRAs investing in oil companies) that has a successful quarter, let the public onslaught commence. The most recent attack has been legislatively, when Representative Dennis Kucinich (D–OH) introduced “the Gas Price Spike Act.” The provisions in the bill threaten the entrepreneurial spirit and our system of … More
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The President’s Blue Ribbon Commission (BRC) on America’s Nuclear Future released its final report late last week. It provides a thoughtful overview of how America’s nuclear waste policy has evolved since the mid-20th century, but the report’s final recommendations largely fall short. Essentially, the commission accepted the underlying structure of America’s current system of nuclear waste management. Given this assumption, the report’s recommendations are reasonable. Unfortunately, the quagmire that has become America’s system of nuclear waste management needs more than a nip here or a tuck there. The entire system … More
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Yesterday, President Barack Obama rolled through Las Vegas to push for federal investment in clean energy vehicles, making his pitch at a UPS plant, escorted by a motorcade of 22 fossil fuel-burning vehicles. We haven’t seen anything this ironic…
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Whether he likes it or not, President Obama’s logic-defying but unsurprising decision to deny TransCanada the permit to construct a 1,700-mile long pipeline to deliver up to 830,000 barrels of oil per day from Alberta, Canada, to Gulf Coast refineries put the ball in Congress’s court—and some Members are seizing that opportunity. On January 24, Representative Ted Poe (R–TX) and 11 co-sponsors, including Representative Dan Boren (D–OK) introduced the Keystone For a Secure Tomorrow Act (K-FAST) that would approve TransCanada’s permit submitted to the Department of State (DOS) on September … More
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The president’s energy agenda took a hit on Thursday, as yet another stimulus-backed energy company filed for bankruptcy. Videos have surfaced since then showing both Obama and Vice President Biden praising the company’s promise, drawing the attention of congressional investigators. As Scribe reported yesterday, Ener1 submitted a pre-packaged bankruptcy plan as part of a refinancing agreement after suffering numerous setbacks late last year. Ener1 subsidiary EnerDel received a $118 million grant from the Energy Department to produce its lithium ion battery technology. The president singled out EnerDel for praise during a speech … More
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By Alan Reynolds
The title is from a Wall Street Journal editorial in January of 2011. I commented on Gingrich’s response to that editorial in the following excerpt from a chapter I wrote …
‘Professor Cornpone: Ethanol Lobbyist Newt Gingrich—and the Future of the GOP’ is a post from Cato @ Liberty – Cato Institute Blog
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George Soros, a billionaire investor and major backer of President Obama, stands to reap a windfall from legislation promoting natural gas-powered vehicles. The White House unveiled a proposal on Thursday that would do just that. The proposal would offer incentives for companies to buy and use trucks powered by natural gas. Obama announced the effort at a UPS facility in Las Vegas that received stimulus funding to buy natural gas vehicles and build a fueling station for them. The proposal is remarkably similar to the New Alternative Transportation to Give … More
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According to information obtained by a liberal environmentalist group, the White House deliberately misled the public about the amount of oil leaking into the Gulf of Mexico after the Deepwater Horizon disaster in April 2010. The month after the spill, the administration announced that about 25,000 barrels per day of oil was being leaked into the Gulf. That estimate turned out to be wildly off the mark. About 53,000 bpd were being spilled. According to emails obtained by the group Public Employees for Environmental Responsibility, the administration falsely reported the … More
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After months of financial turmoil, an Energy Department-backed lithium ion battery company has filed for Chapter 11 bankruptcy protection. The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use. But despite generous federal support for the company, Ener1 was racked by problems last year. In October, NASDAQ delisted the company due to non-compliance with Securities and Exchange Commission filing requirements. A … More
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The Department of Energy’s (DOE) Advanced Research Projects Agency-Energy (ARPA-E) is a program designed to fund high-risk, high-reward projects that the private sector would not embark upon on its own. ARPA-E has as its mission reducing energy imports, increasing energy efficiency, and reducing energy-related emissions, including greenhouse gases. The program is meant to “focus on creative ‘out-of-the-box’ transformational energy research that industry by itself cannot or will not support due to its high risk but where success would provide dramatic benefits for the nation.” The House Committee on Science, Space … More
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