Tuesday, April 26, 2011

More energy "policy" lunacy

The talking points have come out for changing the conversation on why it is we have such high gas prices. Joining evil speculators and the waste, fraud and abuse hotline being set up by the Justice Department is ending subsidies for Big Oil.

B-Daddy has some thoughts, here on the subject.

Here are the two paragraphs that caught our eye as it summarizes the double-standard and hypocrisy inherent to whatever coherency their is to this administration's energy policy.

* In addition to eliminating wasteful subsidies for the oil and gas industry, we have to work toward a longer-term goal of reducing America’s dependence on foreign oil and making ourselves less vulnerable to an always-changing oil market.

* We should all be able to agree that rather than continuing to subsidize 20th century energy sources, we need to invest in 21st century energy sources. Instead of cutting funding for clean energy by 70 percent, as some in Congress have suggested, we need to make smart investments in a 21st century clean energy economy that will keep us competitive, support job creation, and help us to win the future.

Of course, you see what's going on here, right? "Subsidies" are for the oil industry, yet we "invest" in green energy. Subsidies, bad. Investments, good. Wash, rinse and repeat.

Look, you want to eliminate tax breaks and depreciation write-offs for the oil and gas industry? Fine by us but don't double down on stupid and insult our intelligence at the same time by taking this estimated $4 billion that Big Oil gets and pour it into the not-yet-ready-for-primetime green energy sector that also happens to be a mosh pit of crony capitalism and picking winners and losers.

Whether it's oil and gas, wind turbines, solar panels, choo-choo trains or corn and milk, we're not really sure what the government is doing in the subsidies business in the first place.


Harrison said...

Gateway Pundit had a good article about this. Over $1 billion for windmills in China and $2 billion for Brazil to drill for oil.

B-Daddy said...

Since when is a consistent accounting treatment of a class of assets a "subsidy?"

B-Daddy said...

And thanks for the link. Why politicians can't just let this alone, is appalling. It's because people vote on this issue, even though the President has little to do with the actual price.

Dean said...

B-Daddy, I disagree. If the Prez announced he was lifting his permitorium in the Gulf tomorrow, prices would drop immediately.

Those pesky speculators taketh away but they also giveth. This is the hand we have been dealt.

B-Daddy said...

I support drilling in the Gulf, but doubt, based on known reserves that it would have significant impact on price.