Obama’s Green Ponzi Scheme

John Myers by John Myers on April 11th, 2012

This is article 171 of 268 in the topic energy
Obama’s Green Ponzi Scheme

PHOTOS.COM
In March, President Barack Obama went on a two-day, four-state energy tour, proclaiming the benefits of clean energy and the evils of petroleum.

Mitt Romney has a chance at beating President Barack Obama in the November election. Much depends on whether America will swallow Obama’s Green platform.

Obama’s renewable energy plans are as much a flight of fancy as GOP Presidential candidate Newt Gingrich’s idea to build moon bases. The difference is that Gingrich got caught up in a daydream. Obama’s plans are for nothing less than control over America’s future.

Last month, Obama went on a two-day, four-State energy tour, proclaiming the benefits of clean energy and the evils of petroleum. He said that the Republican candidates in the GOP primary are either misguided or simply ignorant ­Luddites.

Obama joked: “Lately we’ve heard a lot of politicians, a lot of folks who are running for a certain office — they shall go unnamed — they dismiss wind power.  They dismiss solar power.”

While the President argues that investments in green energy will ease the pain at the pump and even rebuild America, there just isn’t any evidence to support his view.

Consider this from Robert Bryce’s 2010 book Power Hungry: The Myths Of “Green” Energy and the Real Fuels Of the Future:

Oil is not a perfect fuel. There is no such thing. But oil is — in nearly every case — greener than any of the alternative energy forms that might replace it. No matter whether the replacement is ethanol from corn, biomass — such as wood, straw, or dung — or biofuels made from palm oil or other feedstocks, the conclusion is apparent: Oil (and if you can get it, natural gas) simply has no peers. Oil provides consumers with both high energy density and high power density. It burns cleanly. It’s easily handled at atmospheric temperature and pressure, and the number of uses for it are [sic] essentially limitless.

The crude truth from experts doesn’t deter Obama. On March 22, at the end of his energy tour, Obama said:

The point is, there will always be cynics and naysayers who just want to keep on doing the same things the same way that we’ve always done them. We’ve got a choice. … We can keep developing new energy and new technology that uses less oil, or we can listen to these folks who actually believe that the only thing we can do is drill our way out of this problem.

Obama’s latest directive seems more about getting power for himself than it does about generating power for the Nation.

Recently, syndicated columnist and noted economist Lawrence Kudlow pointed out the flaws in Obama’s mantra on energy:

As Ronald Reagan famously said, “There you go again.”

Of course, Reagan was blaming Jimmy Carter for launching false attacks during a debate. And that line was so effective, it not only helped Reagan win the debate, but a presidential election that would change American history.

But “there you go again” can apply equally to President Obama. Once again this week, the president was out on the campaign trail bashing and oil and gas companies. And he continued to spread major falsehoods about this industry, which I guess is the polite way to put it.

Obama is obsessed with oil and gas. He is a prisoner of the left-wing environmental groups. And really, he’s extending his leftist class-warfare attack from rich people to successful oil and gas producers.

What seems to have Obama especially steamed is the fact that the conventional-energy companies are profitable… So he wants to tax them. He then wants to redistribute their income to his favorite green-energy firms.

Obama’s Con Game

I trust that most Americans know the difference between a pipeline and a pipe dream. We tend to recognize con artists, regardless of the magic in the elixir they are selling. Well, most — but not all — of us do.

That’s good news for Obama, who seems more like Bernie Madoff than like Reagan.

Remember Madoff? He ran a giant Ponzi scheme that cost his investors $18 billion. His fraud was perpetrated on thousands of people, including his closest friends. They all believed the money mogul could deliver double-digit returns regardless of recessions and bear markets.

Why did such intelligent people trust Madoff? Because they desperately wanted to believe it to be true.

Madoff’s Ponzi scheme tanked only after he couldn’t get enough new investors to throw their money in to finance his hustle.

Madoff was a greedy crook who used his friends and associates. That’s prima facie. What was shocking is that so many ignored the adage: “If something sounds too good to be true, it probably is.”

Four years after Madoff’s sentencing, a much bigger con is being perpetrated. It garners more support each passing month, and it comes from the man most Americans are taught to trust: their President.

Unlike Madoff, Obama is not interested in scamming a few thousand Americans out of a few billion dollars. He has far bigger ambitions. He wants another four years in office to change America into what he has always envisioned: a liberal society that will march lockstep to the orders dictated by Washington.

Obama has a few problems to overcome before he can begin his second term, most notably high unemployment and high energy prices.

Yet Obama has come up with a way for one stone to kill three birds. He promises that investing in clean, renewable energy will create millions of jobs and make America energy independent. The icing on the cake is that it will even save the planet.

Even for men like Obama, miracles don’t come cheaply; so expect the price tag on clean, yet un-proven, energy to reach hundreds of billions of dollars.

There’s just one problem: Affordable green energy is at least a couple of decades into our future. Perhaps our President thinks this is a small price to keep him in the Oval Office.

What loyal Democrats don’t understand is that the Greens are making fake promises that could impose a dark future on a Nation that is rich in fossil fuels.

America has real problems, but energy isn’t near the top of the list. Or at least it wouldn’t be if America’s leaders would agree to set wildcatters free off our coastal shores and in Alaska and let them tap into the bonanza of petroleum that can be discovered, pumped and transported throughout the United States.

Yet for some reason — personal, religious or political — Obama is doing everything he can to arrest a renaissance in petroleum. If anything, his plans will make America more dependent on Islamic oil.

Already, European nations are scaling back spending on renewable energy projects. But not Obama.

In a March 26 post on news.gather.com, Renee Nal wrote:

The Obama administration has already spent billions on “green energy” companies, with most of them resulting in bankruptcy and massive layoffs. His Green Agenda is not working and he wants even more. For Obama’s 2013 budget proposal, “Programs for advanced research along with energy efficiency and renewable energy account for the biggest percentage increase in spending.”

Don’t Shoot The Messenger

I write at the request of Bob Livingston. Sometimes, commenters claim I am a mouthpiece for Big Oil. My education and background is in petroleum and journalism. Yet I have never received so much as a dime from any oil company, big or small. At the moment, I don’t even own petroleum stocks. I started off as a cub reporter more than three decades ago, and I have had the good fortune to have publishers like Livingston who let me write the truth as I see it.

Yours in good times and bad,

–John Myers

Editor, Myers’ Energy & Gold Report

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