Beyond the Rhetoric
By Harry C. Alford
Renewable Energy refers to production of energy from sources such as wind, solar heating, electric power, etc. as opposed to fossil fuel sources such as oil, coal, natural gas. It is less harmful to our air and reduces, if any, global warming.
It is a noble cause but so far not much has become of it. The biggest problem is that much of it is being financed by the federal government through subsidies (grants, loan guarantees, etc.). That is a very big problem. Government cannot manage or wisely finance start up corporations. It can tax them for their success but to be involved in the creative process is almost impossible.
According to Breitbart Online: “Green energy subsidies benefit the politically connected while harming future generations as hundreds of millions of dollars are added to the country’s debt burden with each green failure. It’s time to end all subsidies – for all energy companies, not just green ones – and let the best technologies win.”
“In some cases we found evidence of even more direct forms of cronyism. For instance, during his tenure as governor of Maine, now U.S. Senator Angus King (I-ME) signed into law a bill requiring utilities to generate at least 30 percent of their electricity from “green” sources such as wind. After leaving the governor’s office, he founded a wind-energy company, Independence Wind, whose first project, Record Hill Wind, received a $102 million loan guarantee from the Department of Energy – and King received a $407,000 “success” fee. The loan guarantee almost looks like a pat on the back from the DOE (Dept. of Energy) for King’s efforts in promoting their agenda while he was governor of Maine.”
A big problem of letting lobbyists get in the way of sound science and reasoning is that their clients usually aren’t worthy of funding. But they get funded anyway and the taxpayers lose out by way of lost money and lost opportunities. We all know about Solyndra who went “south” after receiving a $535 million loan guarantee. In the first term of the Obama Administration there were at least 36 such DOE funded failures totaling over $7.52 billion. It is a terrible waste. If you go back to the 1970’s when the Global Warming hysteria started, our government has wasted over $154 billion on renewable energy project failures.
Don’t think that the good old boys that have operated the above failures lost a lot of money. No, no, no. They made many millions of our tax dollars before they pulled the “plug” on each and every one of these predicted failures. I believe the Department of Energy needs to be thoroughly evaluated and reassess-
ed its worth to our nation. We must sharply tailor its mission to that capacity. Right now it is adding to our national debt.
What our federal government must realize is that the future of Green Energy is not our federal government. The future is with entities that are in the business of energy. Those corporations that will find success and innovation will be rewarded handsomely through the increased use of their inventions. Yes, it will be the Fossil Fuel Industry that will eventually do this. As opposed to trying to kill our fossil fuel companies, we should encourage them. The Exxon’s, Chevron’s, Dow’s and Peabody’s of our nation are the ones with the expertise. They have some of the best chemists, engineers, physicist and scientists in the world. They will be the ones who lead us to renewable energy that will be cost effective, affordable and efficient. It will also be earth friendly. Give them a chance! Stop all of this over-regulation. Just let them apply some of their profits to research and development. It is that type of capitalism and free enterprise that will produce progress that will match the Industrial Revolution.
We need more elected officials with a vision replicating that of John F. Kennedy and the courage of Franklin Delano Roosevelt. They stood us up before adversity and challenged us to be the true leader of the world when it comes to progress. Let us flush out what we have in Washington, DC and our state capitals. May we start with the next administration?
“Courage and Vision” will defeat “Hope and Change” every time. Let’s realize innovation instead
of seeking manipulation. God has blessed this nation because of our hard work, faith and resilience. We are slipping right now because we have drifted from that “code.” Our national security is facing a challenge. Free enterprise, less repression (over taxation) and fiscally responsible legislatures, Congress and government elected executives will correct that. As a result, no more pipe dreams and much more employment. Plus, a cleaner and healthier planet.
Mr. Alford is the co-founder, President/CEO, of the National Black Chamber of Commerce ®. Website: www.nationalbcc.org Email: [email protected].