“The Era of Cheap Energy is over”
In his latest State of the Union speech, President Barack Obama declared he wanted to end the practice of allowing oil companies to keep more of their money.
So that we can instead increase the number and amount of checks We the Taxpayers write to the born-to-be-bankrupt, “green” non-energy “energy” likes of Solyndra, Fisker, Beacon Power, (and on, and on…).
Here’s Obama last Tuesday, running for reelection from the well of the House of Representatives:
“But I will not walk away from the promise of clean energy,” Obama told Congress. “I will not cede the wind or solar or battery industry to China or Germany because we refuse to make the same commitment here. We have subsidized oil companies for a century. That’s long enough.”
Again, let’s clear away just a bit of Obama’s all-encompassing obfuscation.
Letting oil companies keep their own money (tax credits) is not the same thing as cutting Taxpayer checks to farcical “energy” companies like Solyndra and Ener1.
And if Obama is in fact for an “all-out, all-in, all-of-the-above (energy) strategy” – why did he veto the already-State Department-approved Keystone Pipeline?
It is because Obama has decreed that the Era of Cheap Energy is over.
So it seemed a little out-of-policy-character for Obama when he last Thursday:
(P)roposed tax incentives for companies to buy natural gas trucks….
But fret not – it was for Obama totally in-political-character. It’s just the latest example of his Crony Socialism on parade.
Because guess whose company is the world’s leading manufacturer of natural gas engines? That would be uber-billionaire, uber-Anti-American, uber-Leftist donor George Soros.
One of the stocks Soros invested in recently is Westport Innovations (WPST), a global supplier of “solutions” that allow vehicles to operate on clean-burning fuels, such as natural gas. In fact, they are the world’s leading engineer of natural gas engines….
…Soros’s investment funds have pumped about $122 million into WPST, and he’s added to his control as recently as December and March, when he picked up over a million shares, bringing his total to 5.5 million shares.
No other major investor shares his rosy outlook for natural gas engines, and the stock has barely crept up during the time Soros has held it, leading many to suspect Soros knows of a major future development.
Could that development be Congress’s NAT GAS act? It seems likely.
Government Motors is in fact already working with Soros.
General Motors has entered an agreement with natural gas engine manufacturer, Westport, to co-develop small compressed natural gas engines that could find their way into future GM models….
CEO Dan Akerson “has made it pretty transparent this is an area we need to get back into in the North American environment.”
Certainly Obama-appointee Akerson and GM want to “get back into” yet another round of free government money.
So the Era of Cheap Energy is – at least temporarily – over. For at least as long as the Obama Administration lasts.
And all of the money we could be saving on actual energy is going towards inane, “green” non-energy “energy” – and into the pockets of Obama’s Cronies.
How’s that doing it for you?