Thursday, February 2, 2012

Business bails, alternative energy fails -- but Obama refuses reality

Here's a blunt example of how far the Obama administration strays from the concept of a free market:

Point No. 1: Business is bailing on alternative energy
BP, an energy company that won praise from environmental activists after adopting the slogan “Beyond Petroleum” while investing heavily in solar power, is shutting down its 40-year-old solar business after executives decided solar power production is not economically competitive.

The company had been scaling back its BP Solar operations since 2008.

“BP’s goal is to profitably grow in specific segments of the energy industry,” said Daren Beaudo, a BP spokesman in the company’s U.S. press office in Texas. “As part of this strategic focus, a decision has been made to exit the solar business. As a result, BP Solar has ceased development of future solar energy projects and is beginning the orderly wind down of its operations.”

That's an excerpt from a Feb. 2 Heartland Institute story, linked here:

Also posted on the Heartland Institute's webpage, but from January, this story, which segues into:

Point No. 2: China is losing big in the alternative energy market
Chinese solar power companies reported larger-than-expected losses in the third quarter of 2011, with few buyers lining up to purchase solar power equipment. The Chinese companies are trying to stay afloat by selling excess inventory at below-production costs, which has the Obama administration claiming the Chinese are engaging in unfair trade practices.

Full story here:

Point No. 3: Obama isn't getting the message
The conclusion? Alternative energy isn't working. It's not profitable, it's not driven by consumer demand, and it's not practical as a business investment -- when absent heavy government subsidy, that is. And yet, compare the Obama administration's latest:

Echoing President Obama’s State of the Union call for an “all of the above” energy strategy, the Department of the Interior today marked a major milestone for offshore wind energy along the Atlantic coast.

Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announced that the department’s renewable energy initiative has cleared an important environmental review, allowing Interior to move forward with the process for wind energy lease sales off Maryland, Virginia, New Jersey and Delaware.

Once again, see the full report here:

And go back a couple months to December 2011, and this report, from NJ1015, which feeds into Point No. 3:

Point No. 4: Once again, Obama isn't getting the message
Interior Secretary Ken Salazar said his department has approved a 300-megawatt solar farm on public land in Arizona and a 200-megawatt wind farm in Southern California. The wind farm includes 186 megawatts that would be produced on federal lands.


Point No. 5: Couldn't taxpayer dollars be better spent elsewhere?


No comments:

Post a Comment