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THE GREEN ENERGY FRAUD

 

By Michael S. Coffman
September 26, 2012
NewsWithViews.com

Just like Obamacare, President Obama is committed to force us into using green energy regardless of what the people want – or can afford. Although U.S. reserves of oil, natural gas and coal are inexpensive and very abundant, Obama has done all he can to shut down every plan to develop these sources of economically cheap energy.

Obama even defied a court order requiring the Department of Interior grant deep water drilling permits for oil. Meanwhile, Cuba contracted several companies, including China, to conduct exploratory drilling within 60 miles of the Florida coast; something Obama would not let U.S. companies do. By the end of 2011, Cuba had brought in a Chinese deep water drilling rig and started drilling some 60-70 miles from Florida.

The EPA is also refusing to grant new permits to open new coal mines and has gone so far as to revoke existing permits. Once again, the federal court ruled against the efforts of the Obama administration, in this case the EPA, charging that the EPA exceeded its authority under Section 404 of the Clean Water Act.

One of Obama’s most recent actions was to deny the permit to build the XL oil pipeline from Canada down to Texas. The pipeline would have delivered 1.2 million barrels of oil a day; the amount of oil the U.S. currently gets from Saudi Arabia, and 46 percent more than all the wind and solar energy currently produced in the U.S. each day. This has led energy-sector executives to suspect the administration “is at war with American energy.”

While Obama gives lip service to reducing the dependence of the U.S. on foreign energy and create jobs, he is actually making America more dependent on foreign energy, reducing the U.S.’s national security, while killing hundreds of thousands of jobs in the process. It borders on the bizarre, yet the mainstream media are strangely quiet about this threat while promoting the president’s jobs program which even some Democrats in the U.S. Senate voted down.

After spending tens of billions of dollars on subsidies to green energy wind and solar farms Obama’s Clean Energy Program, the nation’s dependence on green energy has barely budged, from about 1.5 percent 10 years ago to 2 percent today. Worse, in his new book, Throw Them All Out, Peter Schweizer details how 80 percent of DOE funds for clean energy have gone to Obama backers:

…In the…government-backed-loan program [alone], for example, $16.4 billion of the $20.5 billion in loans granted as of Sept. 15 [2011] went to companies either run by or primarily owned by Obama financial backers—individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party.

This is beyond cronyism, its raw corruption that calls into question whether Obama is pushing green energy because he believes in it, or to pay off his supporters with taxpayer’s money. Solyndra is a case in point. Solyndra was Obama’s poster child for his “clean energy initiative.” The dirty details of the Solyndra scandal trickled out over months, in spite of the administrations herculean effort to bury the information.

One of the details exposed was that a DOE employee monitoring the Solyndra loan guarantee, Steve Spinner, happened to be one of Obama's top fundraisers. Another major Obama fundraiser, George Keiser, had deep ties to Solyndra. His George Keiser Family Foundation’s investment arm, Argonaut Ventures, owned a huge piece of Solyndra and received direct political support from the Whitehouse and money from the federal government. Argonaut’s President, Steve Mitchell, also served on Solyndra’s board of directors.

As the scheduled groundbreaking for Solyndra approached, a series of emails from the Whitehouse showed the administration put intense pressure on the Office of Management and Budget (OMB) to make a decision immediately on the Solyndra loan. The Whitehouse never said what the OMB’s decision should be, but wanted Vice President Bidden to attend the groundbreaking ceremony as a photo op and time was running out. However, the OMB said the Whitehouse deadline did not give them time to do their due diligence. If they had, perhaps the OMB would have said “no.”

Worse, as it became clear Solyndra would fail, the DOE allowed private creditors, including many big donors to the Democrats, to get paid first when Solyndra’s assets were sold, in violation of the law. The investors got some of their money back, the U.S. taxpayer got none. Then, as layoffs became inevitable, the Energy Department asked Solyndra to delay the announcement until after the 2010 election.[1]

Besides the cloud of corruption, the Solyndra scandal shows why the government shouldn’t be in the business of picking winners and losers. Not only is wind and solar power economically ruinous, it just doesn’t work. Simply put, wind energy only works when the wind blows, about 25 percent of the time. Likewise, solar power is even less effective because it doesn’t work when the sun doesn’t shine or it’s cloudy. There are a host of other technical reasons why wind and solar won’t economically competitive with carbon-based energy on a large scale for a long time into the future.[2] Yet, the Obama administration is spending billions of dollars to force us to use green energy because of a proven failed ideology.

Europe is already reeling from the realization green energy is bankrupting them. Great Britain estimated last summer that 25 percent of their population already suffers from "energy poverty" as British energy costs skyrocketed by 71 percent. British companies are threatening to move to other countries. Some are already moving.

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An in-depth study in Spain found that for every job green energy creates, 2.2 are lost in the rest of the economy as the enormous subsidies required for green energy sucks jobs out of the private sector. Research in Italy found that they lost an incredible 6.9 jobs in the industrial sector and 4.8 jobs across the entire economy for every green job created. As European nation after European nation realizes the enormous costs of alternative energy, they are shutting off their astronomic subsidies to prop up green energy. Green energy is in a death spiral in Europe.

The European evidence means nothing to Obama. His clean energy plan is an utter failure that has cost the American people tens of billions of dollars, killed hundreds of thousands of jobs, and opened the door to what appears to be rampant corruption. Yet, the Obama administration and the progressives in Congress continue to force-feed us its failed policy. It’s time to say goodbye to any elected official who blindly accepts Obama’s failed clean energy policies.

2012 Michael Coffman - All Rights Reserved

Footnote:

1. Carol Leonniug and Joe Stephens. Solyndra: Energy Dept. Pushed Firm to Keep Layoffs Quiet Until After Midterms. Washington Post, November 15, 2011.
2. Ibid

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Dr. Coffman is President of Environmental Perspectives Incorporated (epi-us.com) and CEO of Sovereignty International (sovereignty.net) in Bangor Maine. He has had over 30 years of university teaching, research and consulting experience in forestry and environmental sciences. He produced the acclaimed DVD Global Warming or Global Governance (warmingdvd.com). His newest book, Rescuing a Broken America (rescuingamericabook.com) is receiving wide acclaim. He can be reached at 207-945-9878.

E-Mail: mcoffman@epi-us.com

Website: DiscerningToday.org


 

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Europe is already reeling from the realization green energy is bankrupting them. Great Britain estimated last summer that 25 percent of their population already suffers from "energy poverty" as British energy costs skyrocketed by 71 percent.