Thursday, December 26, 2024
Hawai'i Free Press

Current Articles | Archives

Tuesday, February 19, 2013
Balance of Trade Best in Years -- Fracking Cuts US Oil, Gas Imports
By NCPA @ 2:34 PM :: 5155 Views :: Energy, Economy

Green Energy Push Harmful to the Economy

NCPA February 19, 2013

President Obama doubled down on his commitment to green energy during his State of the Union address, promising more investments to help grow the economy. This commitment fails to recognize current trends in the energy industry, says Diana Furchtgott-Roth, a senior fellow at the Manhattan Institute.

  • The Labor Department counted 3.1 million green jobs in the U.S. economy in 2012.
  • Green energy is substantially more expensive, which raises utility costs for consumers, particularly low-income Americans who spend a higher proportion of their income on energy.
  • President Obama justifies green energy investments on the grounds that carbon emissions from fossil fuels cause global warming.

The rapidly expanding oil and natural gas industry, not green energy investments, will drive economic growth in the years to come.

  • The trade balance shrank to just $38 billion in December, the smallest in three years, driven by new hydrofracturing ("fracking") technology.
  • "Fracking" has led to a 9 percent increase in exports and an 11 percent decrease in imports as oil and gas companies tap into America's 200-year supply of natural gas.
  • The electricity that is produced from natural gas is 43 percent the cost of solar power, 68 percent the cost of wind power and 57 percent the cost of biomass.

Green energy grants issued after 2009 by the Department of Energy have a dismal record, with more than 90 percent showing some sign of trouble. Of the 33 companies that received grants, four have filed for bankruptcy, two have reported losses and one has furloughed employees.

  • In the 38 states that have passed laws requiring utilities to produce a percentage of their electricity from renewables, consumer energy prices have risen.
  • The Labor Department estimates that the lowest one quintile spends an average of 24 percent of their income on energy, compared to 10 percent of income for those in the middle fifth and 4 percent of income for those in the top fifth.

Source: Diana Furchtgott-Roth, "Obama Must Drop Green For Real Energy," Real Clear Markets, February 12, 2013.

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii