Mr. Chairman and Members of the Committee, my name is Bernard Weinstein and I am the Associate Director of the Maguire Energy Institute at Southern Methodist University (SMU) and an adjunct professor of business economics at SMU’s Cox School of Business. Thank you for this opportunity to speak to you today.
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This Molly Ball piece on the metric which best determines the outcome of elections makes for a fascinating read: essentially, it demonstrates that when Republicans don’t lose the working class by a wide margin, they do well, and when they lose it by 20 points, they don’t. Throw out all the other measures of race and religion – and Republicans even spot the Democrats the ten points! – and the share of the working class vote determines the outcome:
Ohio sits above the Utica and Marcellus shales, two geologic formations that have rich energy potential waiting to be unlocked by the process of hydraulic fracturing, commonly referred to as “fracking.” Increased energy production has the potential to be a powerful economic engine for unemployed Ohioans, but the debate over hydraulic fracturing has served to highlight the natural and political fault lines running through the state.
Panel 8 of the 9th International Conference on Climate Change was on the subject of “Costs and Benefits of Renewable Energy.” The panel was focused on the subject of renewable energy, specifically the high cost and potentially devastating economic consequences produced by the federal government’s efforts to replace the current energy sources with renewables.
There is an intentional tension in Washington. Our founding fathers planned that opposing views would balance each other out—a push-pull takes place. Spend. Don’t spend. This tug-of-war is seen, perhaps[…]
Despite a slight contraction during the first quarter of this year, the American economy has been expanding slowly but steadily since the end of the “Great Recession.” And America’s newfound[…]
In our world of laptops, iPads, flat-screen TVs, microwaves, and jet-skis, it is easy to forget that 1.3 billion people on this planet, nearly one in five overall, do not have access to electricity. Even fewer people have access to clean cooking areas, as 2.6 billion people (38 percent of the world’s population) use traditional biomass—such as wood and animal dung—or coal indoors to cook their meals. As a result, indoor air pollution prematurely claims 3.5 million lives every year, more than double the lives claimed by either malaria or HIV/AIDS. These people are victims of energy poverty.
Before President Obama took office in 2009, the amount of electricity being produced by coal-fired utilities was approximately fifty percent of the total. Today it is approximately forty percent and, when the Environmental Protection Agency regulations take effect as of June 2, more such utilities are likely to close their doors. The basis for the regulations is utterly devoid of any scientific facts.
Rewards of tax dollars for the renewable energy industry are so great it takes tax experts days of explanations to locate all possibilities. Additional subsidies are available from the federal government in forms of tax credits, loan guarantees, grants, and possible mandates for energy source use.
Following my appearance on the Daily Show, I’ve received emails and phone calls from people who don’t agree with my views about energy and the advantages America’s energy abundance provides—benefits that drive both progress and prosperity.
Despite the war-like hostility of the Obama administration to the traditional carbon based energy that fueled the industrial revolution, the entrepreneurship and modern technology of America’s private economy is producing a boom in oil and gas production that is overwhelming President Obama.
After the global warming-battling Edwardsport coal gasification power plant used more power than it generated during the September-to-November time-frame, earlier this month information filed with the Indiana Utility Regulatory Commission showed the Duke Energy facility operated at less than 1 percent of capacity in February.
The global energy outlook has changed radically in just six years. President Obama was elected in 2008 by voters who believed we were running out of oil and gas, that climate change needed to be halted, and that renewables were the energy source of the near future.
California loves to be seen as the trendsetter on energy and environmental policies. But can we really afford to adopt their laws and regulations in the rest of America? Heck, can the once Golden State afford them itself? The path to hell is paved with good intentions, counter-productive policies – and hypocrisy.
With the growing story coming out of Ukraine, the ongoing search for the missing Malaysian jet, the intensifying Nevada cattle battle, and the new announcement about the additional Keystone pipeline delay, little attention is being paid to the Production Tax Credit (PTC) for wind energy—or any of the other fifty lapsed tax breaks the Senate Finance Committee approved earlier this month. But, despite the low news profile, the gears of government continue to grind up taxpayer dollars.
A nation without adequate energy production is a nation in decline and that has been the President’s agenda since the day he took office in 2009. He even announced his war on coal during the 2008 campaign even though, at the time, it was providing fifty percent of the electricity being utilized.
Relationships fascinate us. Americans are always picking up the latest issue of their favorite magazine or clicking on that random pop-up website that promises five easy secrets to a satisfying[…]