“The President has bragged that ‘we produce more oil at home than we have in 15 years.’ Indeed domestic production rose from 5.6 to 6.4 million daily barrels in 2012 from the year before (12.5%). However, production from federal onshore and offshore areas has fallen significantly under his watch – and 96% of the above production increase was on state and private lands.”
President Obama insists he is determined to create jobs in America. He recently announced the creation of “promise zones” for five communities around the nation and a “manufacturing institute” aimed at fostering more high-paying jobs in energy efficiency.
He’s also said he has “a pen and a phone” to “sign executive orders and take executive actions that move the ball,” where Congress has failed to implement policies he believes are needed.…
Continue Reading[Editor note: This post is taken from a new policy brief, The Latest Unanticipated Consequence in the Ethanol Fiasco, released by the Mosbacher Institute for Trade, Economics, and Public Policy at Texas A&M University. Professor Griffin, who directs the Mosbacher Institute, is also author of U.S. Ethanol Policy: Time to Reconsider? in The Energy Journal (Fall 2013).]
Executive Summary
[Editor note: This is the final excerpt of a January 15 letter by Mr. Schleede to the Senate Finance Committee concerning the Baucus tax-reform proposal (December 18, 2013). Part I reprinted the executive summary and conclusions; Part II the high cost/low value of windpower. Part III the negative environmental effects of continued subsidization of windpower, including the “cleanliness” standard of the Baucus proposal.]
“Tax breaks and subsidies for wind transfer wealth from ordinary taxpayers and electric customers to “wind farm” owners, electric customers in some states, and the voluntary purchasers of high cost electricity from wind.”
During the past 20 years, a variety of tax breaks and special subsidies for the wind industry have had massive wealth transfer impacts. The proposed production tax credit (PTC) and investment tax credit (ITC) would extend such impact for years into the future.…
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