Rep. Fred Upton(R- Michigan) illustrates the huge divide between the Obama view and that of Congressional Republicans when he contrasts the difference between the Solyndra and the Keystone Pipeline energy projects. Upton says:
“These two energy projects tell a dramatic yet revealing story, one that explains our slow economic recovery, our burgeoning federal debt, and our over reliance on Middle Eastern oil. Solyndra – a bankrupt, federally subsidized solar project – and the proposed Keystone pipeline carrying oil from Canada – are really symbols of a larger narrative, serving as examples of two distinct economic and governing philosophies. The Keystone approach supports free markets, encourages private investment and relies on technology instead of regulatory mandates to produce energy. The Solyndra model advocates prescriptive and detailed Washington planning, massive federal spending, and recasts energy bureaucrats as venture capitalists.”
President Obama stymied attempts to authorize the Keystone pipeline saying that it was environmentally problematic because it would be built, in part, over a major mid-American aquifer. The pipeline’s proposed path was rerouted but still Obama would not give it the go-ahead. It is widely understood that his in-action was taken to appease extreme environmentalist groups that are major campaign contributors. Keystone would have the near term effect of employing thousands of people to build the line. It would have added to the Nation’s crude oil reserve and be supplied from a friendly country- Canada. However, his inaction has resulted in the Canadians signing an oil sales agreement with China to be supplied from this same resource. And get this— build a pipeline to the Pacific coast where the crude can be shipped by tanker to China.
Instead, Obama has been picking “renewable energy projects” to fund. Solyndra is just one example of the many companies that his Administration has picked that have gone bankrupt. Solyndra was given over $500 billion of taxpayer monies and those are all lost. In Obama’s Presidential Nomination acceptance speech at the Democrat Convention, he promised to do more of this. UGH!!
Upton sums up his case here:
“It’s time to start looking forward on energy policy and embrace the possibility of North American energy independence. Given the slow pace of Washington’s bureaucracy, policymakers are often busy solving yesterday’s problems. This rearview mirror approach afflicts Mr. Obama and his Democratic allies in Congress. They lack the vision to realize the energy world has changed dramatically even since the president took office. We now have the opportunity to significantly expand our North American energy supply – not through new regulations or federal subsidies, but by simply making commonsense policy decisions. We need to seize these new opportunities and adapt, not continue to support old policies conceived in a world when energy scarcity was in vogue.”
To read the full posting by Representative Upton click here.
Hey! This post could not be written any better! Reading this post reminds me of my old room mate!
He always kept talking about this. I will forward this write-up to
him. Pretty sure he will have a good read. Thanks for sharing!