Abengoa, a Spanish renewable energy company, is on the brink of failure. Few in the United States might care except for the fact the Obama administration showered Abengoa with more than $2.9 billion in federal grants and loan guarantees: If Abengoa goes belly up, taxpayers will be on the hook for a bankruptcy that makes Solyndra’s look small by comparison.
Tagged: green energy
The Environmental Protection Agency’s new Clean Power Plan (CPP) requires that states reduce their electric utility sector carbon dioxide emissions an average of 32% below 2005 levels by 2030. EPA twisted 80 words in the Clean Air Act into 1,560 pages of regulations (plus appendices) demanding that utilities return CO2 emissions almost to 1975 levels, while our population grows by 40 million.
“[This is a] big victory that has been a long-time coming,” said John Nothdurft, director of government relations at The Heartland Institute, in reaction to Gov. Brownback signing the bill yesterday. “States are now moving in the right direction and rolling back these policies.
Modern industrial society commenced with the use of coal and oil to power factories, trains, ships and agriculture and to generate electricity. With abundant energy, prosperity increased, and people could save enough to support leisure, education, culture and environmental concerns.
President Obama’s policies of thwarting fossil fuel production are diminishing our influence on world affairs by denying the United States’ unparalleled ability to supply fossil fuels to friendly nations. Developing nations need inexpensive coal to supply cheap electricity for their deprived masses.
One scandal that could haunt Reid for his remaining time in the Senate (and possibly beyond) was reported on recently in the Washington Free Beacon and Courthouse News. It seems the Reid helped the green energy company, Ormat Technologies, a firm that owns and manages geothermal plants in California and Hawaii, secure nearly $136 million in economic stimulus funding from the 2009 American Recovery and Reinvestment Act.
The first renewable energy mandate was adopted in 1983, but most states did not impose these mandates until the 2000s. Though the details vary from state to state, in general, renewable energy mandates require utilities to provide a certain percentage of the electric power they supply from “renewable” sources, notably wind and solar, with the required percentages rising over time.
I come not to praise but to bury scandal plagued Oregon Gov. John Kitzhaber, who was forced to resign amidst the growing weight of public scandals, ethics investigations and criminal proceedings concerning political payoffs related to various green energy schemes and the governor ha pushed.
Climate Alarmists turn back the Clock
Three centuries ago, the world ran on green power. Wood was used for heating and cooking, charcoal for smelting and smithing, wind or water-power for pumps mills and ships, and whale oil or tallow for lamps. People and soldiers walked or rode horses, and millions of horses and oxen pulled ploughs, wagons, coaches and artillery.
Such is the paradox of government interference in the energy sector: People turn to government to spur innovation, but government is a monopoly, shielded from the market forces that create innovation through competition and consumer choice.
Anyone who travels across this country or lives near the vicinity of wind farms can describe the increasing industrial blight wind farms impose on previously unmarred vistas and formerly wild, undeveloped locales.
In a May 23, 1977 column for Newsweek, titled “A Department of Energy?” the late Nobel laureate economist Milton Friedman wrote: “Do not be misled into supposing that the energy problem is a purely technical problem that engineers can solve.”