Free Markets, Free People
And, as we’ve said for a while, “consensus” is wrong. I won’t call it ‘scientific consensus’ because there’s no such thing. And, as you’ll see, there wasn’t much science involved in previous predictions anyway. But first the news according to The Register:
Twenty-year-old models which have suggested serious ice loss in the eastern Antarctic have been compared with reality for the first time – and found to be wrong, so much so that it now appears that no ice is being lost at all.
“Previous ocean models … have predicted temperatures and melt rates that are too high, suggesting a significant mass loss in this region that is actually not taking place,” says Tore Hattermann of the Norwegian Polar Institute, member of a team which has obtained two years’ worth of direct measurements below the massive Fimbul Ice Shelf in eastern Antarctica – the first ever to be taken.
You don’t say. And why is that?
It turns out that past studies, which were based on computer models without any direct data for comparison or guidance, overestimate the water temperatures and extent of melting beneath the Fimbul Ice Shelf. This has led to the misconception, Hattermann said, that the ice shelf is losing mass at a faster rate than it is gaining mass, leading to an overall loss of mass.
The team’s results show that water temperatures are far lower than computer models predicted …
So let me see if I get this straight … previous “scientific” studies were based in models that used no “direct data for comparison or guidance” and led us on this unscientific wild goose chase for what, 20 years?
But don’t expect this to stop anyone. Scientific findings? Bah, humbug. They’re meeting right now, under the auspices of the UN, to save the world from the dire predictions the same sorts of models have forecast for our future – most likely based on about as flimsy a basis as these models were.
The rational among us know that. The ‘environ – mental’ crowd, however, will ignore this as they have every other bit of actual contrary evidence and we’ll continue to hear them claim that we’re losing antarctic ice mass at an alarming level (because remember, that sort of land based ice mass is bad because it will raise ocean levels and that fits their worldview and their agenda).
Science per se is not at all something they worship – unless it says what they want it to say. If it doesn’t, they feel free to ignore it and pretend the contrary info comes from charlatans and “deniers”.
Such that it was. 4 things.
One: There were no ‘hard questions’. If you look at the transcript you’ll note that the President called on reporters by name. You know why, don’t you?
Two: The Susan Rice thing. Let’s do a Candy Crowley and go to the transcript:
But for them to go after the U.N. ambassador, who had nothing to do with Benghazi and was simply making a presentation based on intelligence that she had received and to besmirch her reputation is outrageous.
What’s outrageous is he just admitted that he didn’t say that Benghazi was a terrorist act as he asserted in a debate, or, one assumes, Ms. Rice wouldn’t have been spouting the video line. If Obama knew on day two in the Rose Garden that it was a terrorist attack (and the only way he’d know was through intel reports), why didn’t Rice?
What I’m concerned about is not finding ourselves in a situation where the wealthy aren’t paying more or aren’t paying as much they should; middle-class families, one way or another, are making up the difference. That’s the kind of status quo that has been going on here too long, and that’s exactly what I argued against during this campaign. And if there’s — one thing that I’m pretty confident about is the American people understood what they were getting when they gave me this incredible privilege of being in office for another four years. They want compromise. They wanted action. But they also want to make sure that middle-class folks aren’t bearing the entire burden and sacrifice when it comes to some of these big challenges. They expect that folks at the top are doing their fair share as well, and that’s going to be my guiding principle during these negotiations but, more importantly, during the next four years of my administration.
I’m not sure how many times we have to publish the percentage of taxes the top 5%, 2% or 1% pay in comparison with the rest of the population, but in reality, they pay much more than their “fair share”. This isn’t about “fair share’s”. It’s about perpetuating a myth that taxing them more will ease the debt/deficit problem (as Dale has pointed out, it will yield about $42 billion) and give Obama someone to blame if “negotiations” fail. This tax the rich scheme is the reddest of red herrings.
Four: Perputuating the “Big Lie”:
You know, as you know, Mark, we can’t attribute any particular weather event to climate change. What we do know is the temperature around the globe is increasing faster than was predicted even 10 years ago. We do know that the Arctic ice cap is melting faster than was predicted even five years ago. We do know that there have been extraordinarily — there have been an extraordinarily large number of severe weather events here in North America, but also around the globe.
There has been no warming for the past 10 years, Arctic ice is fine, thank you very much, and there have not been an “extraordinarily large number of severe weather events” here. In fact, we’re in a “hurricane drought” per the experts.
The good news, if you believe him, is that climate change will take a back seat to jobs and the economy. How do we measure whether this is more Obama hot air (i.e. saying one thing, doing another) or he means it?
Watch the EPA.
It is quotes like this that drive me crazy:
“Climate scientists agree the Earth will be hotter by the end of the century, but their simulations don’t agree on how much. Now a study suggests the gloomier predictions may be closer to the mark. … That means the world could be in for a devastating increase of about eight degrees Fahrenheit by 2100, resulting in drastically higher seas, disappearing coastlines and more severe droughts, floods and other destructive weather.”
First, some “climate scientists agree”, not all. Some climate scientists actually disagree. In fact, quite a few.
Second – their simulations have been shown to be factually invalid. They can’t even recreate the past. Yet here we have a newsie asserting, by fiat, that they’re valid and the only problem we face is figuring out “how much” is “right” from these hopelessly flawed models.
Finally, a “new study” based on these flawed models predicts even more extreme consequences than most. Wow … there’s a surprise.
Zombie climate apocalypse continues to stagger on. Why? Because it will be used as a basis to claim we need a carbon tax. Government is not going to miss the opportunity to create a revenue stream out of thin air no matter how questionable the “science” supporting such a power grab remains. It has paid it’s grants, gotten the “science” it paid for and now plans to cash in.
Note the capitalized word in the title?
President Obama is campaigning as a champion of the oil and gas boom he’s had nothing to do with, and even as his regulators try to stifle it. The latest example is the Interior Department’s little-noticed August decision to close off from drilling nearly half of the 23.5 million acre National Petroleum Reserve in Alaska.
The area is called the National Petroleum Reserve because in 1976 Congress designated it as a strategic oil and natural gas stockpile to meet the “energy needs of the nation.” Alaska favors exploration in nearly the entire reserve. The feds had been reviewing four potential development plans, and the state of Alaska had strongly objected to the most restrictive of the four. Sure enough, that was the plan Interior chose.
Why? Because Ken Salazar in his infinite wisdom, knows more about all of this that you proles, especially the proles in Alaska. The excuse?
Interior Secretary Ken Salazar says his plan “will help the industry bring energy safely to market from this remote location, while also protecting wildlife and subsistence rights of Alaska Natives.” He added that the proposal will expand “safe and responsible oil and gas development, and builds on our efforts to help companies develop the infrastructure that’s needed to bring supplies online.”
Got that? Restricting use of a area designated by Congress for a specific purpose, a purpose backed by the state in which the area is located, will “help industry” and expand “safe and responsible oil development”.
George Orwell, call your publisher. Time to update Newspeak. Up is now down, and restrictions now “help industry” and “expand” development.
Meanwhile in coal country:
Two coal companies in Pennsylvania blamed President Obama and his Environmental Protection Agency (EPA) for the layoffs announced last week.
“[T]he escalating costs and uncertainty generated by recently advanced EPA regulations and interpretations have created a challenging business climate for the entire coal industry,” said PBS Coals Inc. President and CEO D. Lynn Shanks in a statement on Friday, as noted by the Pittsburgh Post-Gazette. The company also cited weaker-than-normal demand for coal.
Shanks’ comment on the EPA came as he announced a 28 percent work force reduction. “PBS Coals Inc. and its affiliate company, RoxCoal Inc., laid off about 225 workers as part of an immediate idling of some deep and surface mines in Somerset County,” Post-Gazette added. “The company now employs 795 workers.”
Yes, the Obama promise to essentially put coal out of business is indeed making progress.
So wait, we have the administration restricting the oil industry in Alaska and the EPA causing layoffs in coal country, and my guess is Obama will attempt to brag about how many jobs he’s created tomorrow night. Any takers?
That said, guess who is getting “fast tracked”?
The Interior Department set aside about 285,000 acres for commercial-scale solar in Arizona, California, Colorado, Nevada, New Mexico and Utah. The federal government will offer incentives for development, help facilitate access to existing or planned electric infrastructure and ease the permitting process in the 17 zones.
“Energy from sources like wind and solar have doubled since the president took office, and with today’s milestone, we are laying a sustainable foundation to keep expanding our nation’s domestic energy resources,” Interior Secretary Ken Salazar said. …
The development program approved Friday cuts some up-front costs for developers, as the federal government already has performed National Environmental Policy Act assessments for the sites.
The administration fired the most recent volley Wednesday by affirming tariffs on Chinese imports. The Commerce Department determined Chinese solar panels were sold below fair value and that its solar businesses unfairly received direct government support.
Now for the irony:
Yes, you read that correctly — even with all of the many types of subsidies and special government treatment the solar industry receives, they still can’t compete, so the government affords the domestic industry protectionist tariffs… purportedly because China gives its own industry unfair government help.
Anyone who still thinks this isn’t the most political, inept, corrupt, ideologically driven and opaque administration in the history of this country has to have been living under a rock for a few hundred years.
This bunch makes one pine for Jimmy Carter.
But, of course, it is one of the Obama administration’s priorities (could it be because a carbon tax would most likely kill even more jobs?). Bottom line?
The world stopped getting warmer almost 16 years ago, according to new data released last week. The figures, which have triggered debate among climate scientists, reveal that from the beginning of 1997 until August 2012, there was no discernible rise in aggregate global temperatures.The new data, compiled from more than 3,000 measuring points on land and sea, was issued quietly on the internet, without any media fanfare, and, until today, it has not been reported. This stands in sharp contrast to the release of the previous figures six months ago, which went only to the end of 2010 – a very warm year.
Of course the figures, as mentioned, were “quietly” released without an media fanfare. None. They were just plopped out there.
Die-hard warmists aren’t going to pay any attention to it though. Just watch. Those who claim “science” should trump and we should be doing something to curb our carbon footprints really don’t care about science.
Does it matter that campaigners and the media are actively peddling disinformation? For the most part, probably not, as the public is by now used to such nonsense on just about every subject from unemployment figures to Barack Obama’s birth certificate. But there is one group that should be very concerned about the spreading of rampant misinformation: the scientific community. It is, of course, thrilling to appear in the media and get caught up in highly politicized debates. But leading scientists and scientific organizations that contribute to a campaign of misinformation — even in pursuit of a worthy goal like responding effectively to climate change — may find that the credibility of science itself is put at risk by supporting scientifically unsupportable claims in pursuit of a political agenda.
Absolutely. But back to Roger Pielke Jr’s question at the beginning. Does it matter that politicians and the media are actively peddling disinformation? Yes, in fact it does. Because they are able, if they convince enough people, to force us to pay for one of their revenue schemes with the false science they peddle. So yes, it does matter. But his point about scientists is important as well. It is the scientific community that should be up in arms about the fiasco that global warming, or as warmists now prefer, “climate change”, has been presented. Pure, grant peddling, hogwash.
Dr. Judith Curry at Georgia Tech says:
The data confirms the existence of a ‘pause’ in the warming. The impact of this pause within the climate dynamic community has been to focus increased attention on the impact of natural variability, particularly the impact of internal multi-decadal oscillations in the ocean. The new climate model calculations for the AR5 have focused on trying to assess what it would take to accurately simulate these multi-decadal ocean oscillations and how predictable they might be. These new observations and climate modeling results will hopefully impact the the IPCC AR5 deliberations so that we do not see the same overly confident consensus statements that we saw in the AR4.
Got that? They don’t even know what it will take to simulate the “multi-decadal ocean oscillations”. That should tell you all you need to know about the efficacy of the previous models which so “over confidently” claimed both viability and consensus. As we’ve since learned, they had neither.
Final nail? Oh, no. Zombie warmism will be with us until the newest man-made apocolypse is “discovered”.
This … this … this just can’t be!
Antarctica has broken the record for the greatest sea ice extent ever measured at either pole. If current trends continue, the Earth will be completely covered with ice much faster than the climate models predicted.
It has to be nonsense, right? Is it the Onion? We all know ice is melting and sea levels are rising … the media tells us so. And then there’s Al Gore, the voice of reason. We all know this can’t be true. Just ask us:
OK, so the floating Arctic ice cap appears to be shrinking. Catastrophe if it goes on, right? As white ice reflects heat into space, past a certain point more and more heat will not be reflected, more and more ice will melt. Past such a “tipping point”, the ice cap would never recover – it would vanish completely, taking with it the ice cover of Greenland which would cause huge rises in sea levels and Biblical flooding worldwide. Not so much, according to the latest research by German climate scientists.
Really? You mean, the ice isn’t melting? The world won’t flood? It’s not getting warmer?
What’s that you say? You have actual science to back that up?
Real world measurements are the best tools we have at our disposal to monitor what impacts, if any, our use of fossil fuels is having on earth’s climate. Measured temperature increase has stopped for over a decade despite large increases in carbon dioxide. Loss and gain of sea ice in the Arctic is directly tied to cycles of warming and cooling ocean temperatures. Antarctic sea ice is increasing. Antarctic temperature is not increasing. The number of hurricanes around the world is not increasing and the strength of hurricanes worldwide is decreasing.
Antarctica’s temperature is not increasing? You’ll probably claim sea temperatures haven’t risen either:
Using data from the Climatic Research Unit of the UEA, it appears sea surface temperatures may explain Antarctic Sea Ice at record levels. SST in the southern hemisphere have a cooling trend of -0.068C per decade over the last 15 years.
Oh, my. The sea has been cooling for all these years? But what evidence do you have that there’s more ice?
Global average sea levels fell by 5mm last year, presenting an inconvenient fact in a climate change narrative that warns of severe long-term threats to coastal settlements. The 5mm decline was almost twice the rate of the 3mm-a-year average increase recorded over the past 20 years and three times the 130-year average rise rate of 1.7mm a year.
Wow … so how do we hide that decline?
Apparently it’s time to double down on “global warming”:
More than 100 million people will die and global economic growth will be cut by 3.2 percent of gross domestic product (GDP) by 2030 if the world fails to tackle climate change, a report commissioned by 20 governments said on Wednesday.
Of course, if the world, considering the economic position it’s in now, does decide to spend the money it thinks is necessary to do this, my guess is the result will be as bad if not worse. As has been pointed out many times, the effort to “tackle climate change” would require that trillions be spent on containing the human portion (which is tiny) of a trace gas while the natural sources, necessarily, continue on unabated.
Sounds like a brilliant plan, no?
And all of that with absolutely no assurance that it will change anything except the poverty level. And that will go up markedly.
Then there’s the so-called “science” backing this nonsense. It has been shredded. Because it has been shredded, the public’s interest in the scare tactics from the doomsday environmentalists is at a low ebb. They’re just no buying it.
Finally, there’s nature’s cycles. Oh, my, nature has cycles? Yeah, for billions of years. And the one thing constant about the earth’s climate is change. That means it is always either getting hotter or cooling off. Go figure.
All this to say, “here we go again”. The good news? No interest, no science to back it all up and most of all, no money.
And yes, that’s good news.
Obama 2012: “I never said it would be quick or easy”
Obama 2009: “If this isn’t done it three years, we’re talking about a one term proposition”
Last night we heard, well, we heard a speech that was not so hot. Oh he said lots of stuff, but we’ve all learned over the past 3 plus years not to really trust what he says, but instead to watch what he does. He knows how to own the rhetoric, he just rarely if ever lives up to it.
He’s the “I want to have it both ways” president.
For instance – last night he said this:
We don’t think the government can solve all of our problems, but we don’t think the government is the source of all of our problems …
And the truth is, it will take more than a few years for us to solve challenges that have built up over decades. It’ll require common effort, shared responsibility, and the kind of bold, persistent experimentation that Franklin Roosevelt pursued during the only crisis worse than this one.
On the one hand he tells us government isn’t the answer and on the other, he claims it more government is the answer. Which should we believe?
Well in this case, the latter, given his actions (see ObamaCare which he never once mentioned last night, just like the number “8.2%.). He spent two years going the FDR route with a Democratic Congress and had he not seen his party go down in flames in 2010 and a check put on him in the House of Representatives, you can be assured he and the Democrats would have attempted to grow government even more.
This is a guy on whose watch we almost doubled the debt. Yet not a mention of that last night. Instead he tried to tell us how much he was going to take off the debt . 4 trillion he claims.
Independent experts say that my plan would cut our deficit by $4 trillion.
But another thing you learn listening to this president is to take his claims with a grain of salt. 4 trillion? Only if you believe in “creative” accounting. Jennifer Rubin, quoting the Washington Post’s Glenn Kessler’s fact check of that claim points out why it is a load of rubbish:
By the administration’s math, you have nearly $3.8 trillion in spending cuts, compared to $1.5 trillion in tax increases (letting the Bush tax cuts expire for high-income Americans). Presto, $1 of tax increases for every $2.50 of spending cuts.
But virtually no serious budget analyst agreed with this accounting. The $4 trillion figure, for instance, includes counting some $1 trillion in cuts reached a year ago in budget negotiations with Congress. So no matter who is the president, the savings are already in the bank.
Moreover, the administration is also counting $848 billion in phantom savings from winding down the wars in Iraq and Afghanistan, even though the administration had long made clear those wars would end.
In other words, by projecting war spending far in the future, the administration is able to claim credit for saving money it never intended to spend. (Imagine taking credit for saving money on buying a new car every year, even though you intended to keep your car for 10 years.)
Rather than good arithmetic, independent budget analysts called the maneuver “a major budget gimmick.”
The administration also counts $800 billion in savings in debt payments (from lower deficits) as a “spending cut,” which is a dubious claim. We didn’t realize that debt payments were now considered a government program.
There are a number of other games being played, so fake money is being used to pay for real spending projects. In effect, most of Obama’s claimed deficit reduction comes from his proposed tax increases.
And, as we’ve all learned, those tax increases are but a drop in the sea of red ink this president has unleashed. His appeal to authority notwithstanding, his claim is as empty as his rhetoric.
As most have figured out, the problem isn’t about who is or isn’t “paying their fair share”, it’s about out-of-control spending. In the entire speech last night, that was not a subject that was addressed. Instead, as you saw above, we were given a real preview into what he has in store for us when he can be “more flexible”. FDR type experimentation.
What does FDR type experimentation require? More government and more spending.
Finally, if you missed this, you need to be reminded:
And yes, my plan will continue to reduce the carbon pollution that is heating our planet, because climate change is not a hoax.
That says two things. One, he plans to do the same sort of slow walking for fossil fuel he’s done this past four years while doubling down on his disastrous green policy. And part of the doubling down is undoubtedly to somehow impose a carbon tax that will help feed a ravenous spending machine.
The president who said he would return science to preeminence in decision making during his administration, is now planning on using the pseudo-science of AGW as an excuse to raise taxes on everyone. If that’s not clear, you’ve just not been paying attention.
So he’s right, there’s never been a more clear choice. Continued disaster, keeping a country on the wrong track on that track or an attempt to change that.
Will Romney be better?
He’s actually a turn-around specialist with experience and success in the field. How could he be worse?
I say we make Obama stick with the 2009 statement – for the good of the country.
Last month I pointed this out:
The Obama administration will open public lands in six Western states to more solar projects as part of a solar energy road map it publicized Tuesday.
The Interior Department set aside 285,000 acres in Arizona, California, Colorado, Nevada, New Mexico and Utah for the initiative. Firms can apply for waivers to develop projects on an additional 19 million acres.
At the same time the administration opens those lands up (19 million acres!? For solar?), it has essentially closed federal land to oil and gas exploration and exploitation.
The Wall Street Journal (subscription) explains:
Several weeks ago in a remarkable but little-noticed policy directive, the Interior Department announced that it will allow construction permitting on 285,000 acres of public land in Arizona, California, Colorado, Nevada, New Mexico and Utah for solar energy projects. Even more remarkable, Interior said that energy firms can petition Interior to build solar installations "on approximately 19 million acres"—a larger land mass than Connecticut, Massachusetts, New Hampshire and Vermont combined.
Interior boasts that "this represents a major step forward in the permitting of utility-scale solar energy on public lands throughout the west." This means opening up huge chunks of U.S. desert and wilderness to the installation and long-term placement of hundreds of thousands of solar panels. The dirty secret of solar and wind power is that they are extremely land intensive, especially compared to coal mining, oil and gas drilling or building a nuclear power plant.
Question: Where are the environmentalists? I can’t imagine anything more disruptive to “fragile eco-systems” and endangered species than carpeting hundreds of thousands or millions of acres with solar panels. And yet I’m finding little to nothing in the press about their protests of projects of such a scale.
What’s surprising is that few if any nature groups are protesting this regulatory rush to approve renewable energy projects. Environmental groups have never hesitated to block a dam to save a snail darter, or oppose a forest-clearing to save an owl, but desert tortoises and bighorn sheep are apparently expendable as sacrifices to the gods of green energy. So much for protecting wildlife from big, bad profit-making industry.
Those groups are complicit in the cronyism and have abandoned their so-called calling (protecting the environment and wild life) for politics. Like happened to the National Organization of Women during the Clinton years, the environmental movement’s complacency and silence regarding this move by the administration destroys their credibility.
Not only that:
That’s only part of the special treatment for solar companies. Interior says it plans to expedite solar-project approval and cut up-front costs for developers. The agency is also streamlining National Environmental Policy Act approval and facilitating the linking of solar electricity generation to transmission lines that will carry the electricity to substations. All of this is on top of the $9 billion in taxpayer handouts for solar and wind projects that were approved between 2009 and 2011.
In short, green energy is getting an EZ Pass through the Administration’s costly regulatory tolls. Since taking office in 2009, the Obama Administration has approved 17 major solar projects on public lands. All of this is facilitated through a program called the "roadmap for solar energy development."
Apparently the costly and lengthy environmental impact studies required of fossil fuel or nuclear projects just don’t need to be done by “approved” energy sources, even if it is clear that in terms of real environmental impact (just by footprint alone) these projects are far more intrusive than fossil fuel projects.
But hey, that’s where cronyism comes in. That’s where we socialize (subsidize) the cost and privatize the profit. That’s where the taxpayer pays the difference while the government streamlines its procedures (or doesn’t enforce its own regulations) in favor of its chosen industry.
Interior is just not going to entertain the same sort of nonsense it imposes on fossil fuel projects when it is a project it favors.
Oil shale though? Oh, we have regulatory hoops, more hoops and requirements out the wazoo if you want to do that:
Meanwhile, the Institute for Energy Research notices that the new solar policy is "in sharp contrast to the Obama Administration’s canceling lease sales for oil shale deposits in Colorado, Wyoming and Utah early in the President’s term and significantly downsizing development plans for those resources since then."
This is roughly the same list of western states that got the green light for solar, but with different results. Oil shale—not to be confused with shale oil, which is extracted through hydraulic fracturing—is recovered by heating rock at high temperatures, which releases petroleum. The U.S. has the largest oil shale deposits in the world, totaling a little under one trillion recoverable barrels, or about 150 years worth of supply. But most of it is located on public lands and is still off limits.
Consider the 2005 Energy Policy Act that authorized oil shale leasing on public lands. In 2008 the Bush Administration issued rules on oil shale exploration, but in February 2009 Interior Secretary Ken Salazar said those rules would be delayed. Only this year, says Mary Hutzler, former acting administrator of the Energy Information Agency, "did the Interior Department announce its plan for shale drilling, but the administration closed off 75% of the federal land containing oil shale resources that were to be offered for lease under the Bush rules."
Remember the post from yesterday in which I pointed to the promise of fossil fuel if government would just get out of the way? 3.6 million jobs and a 3% increase in GDP by 2020.
Instead, this is the way this administration has chosen to go. An unproven and land intensive energy source instead of backing a tried and true one. Like it has done in the medical field it is wreaking havoc in the energy field pushing its favored industry that can only survive by government subsidy.
And this administration has the gall to call anyone else “ideologically” driven?
Let this paragraph, given the economic circumstances we now find ourselves in and the policies we’ve suffered under with this administration in reference to fossil fuels, sink in:
U.S. energy supplies have been transformed in less than a decade, driven by advances in technology, and the economic implications are only beginning to be understood. U.S. natural gas production will expand to a record this year and oil output swelled in July to its highest point since 1999. Citigroup estimated in a March report that a “reindustrialization” of America could add as many as 3.6 million jobs by 2020 and increase the gross domestic product by as much as 3 percent.
In case you missed those numbers, that’s plus 3.6 million jobs and kicking up the GDP by as much as 3% by 2020.
And imagine the tax revenues that would bring as well.
Low cost fossil fuel will also do much, much more:
[T]here are signs the economic gains have begun to expand beyond the oil and gas fields and that the promise of abundant, low-cost fuels will give a competitive edge to industries from steel, aluminum and automobiles to fertilizers and chemicals.
In other words, low cost fuels will make our manufacturing sector more competitive which means more of it and more jobs as well. Right now (and for the foreseeable future) our natural gas is much less expensive than that in the UK and Europe. And we have literally trillions of cubic feet of it that is recoverable.
That’s starting to drive some massive private investment:
Companies plan to invest $138 billion in more than 700 natural gas storage, pipeline and processing plants in the U.S., and another $88 billion in more than 500 gas-fired power generation units, according to Joseph Govreau, vice president and editor-in-chief of Industrial Info Resources. The
firm tracks projects from planning stages through construction.
That’s only a portion of what this will spur, if allowed to go ahead. Fertilizer production, petrochemicals, etc., all could see a revival with cheap fossil fuel.
Democrats keeps saying that reviving the manufacturing sector should be a priority.
So here’s a valid means of doing so.
Yet for 3 plus years, this administration has done everything it can to slow walk or block increased production and exploration on federal lands and off our coasts. There’s no sign it plans on changing that.
This boom we’re talking about has taken place in a relatively very few areas, mostly privately owned:
So far, the economic benefits have been confined to states such as Louisiana, Texas and North Dakota, while the national jobless rate has stayed above 8 percent for 42 straight months in the wake of the worst recession in seven decades.
Seems like the proverbial “no brainer” doesn’t it? Open up federal lands and let oil companies responsibly and in an environmentally safe way explore for and exploit the natural resources we have and the country is put in the position to reap the benefits:
“This is one of those rare opportunities that every country looks for and few ever get,” said Philip Verleger, a former director of the office of energy policy at the U.S. Treasury Department and founder of PKVerleger LLC, a consulting firm in Carbondale, Colorado. “This abundance of energy gives us an opportunity to rebuild our economy.”
Or we can repeat these past 3 plus years.