OBAMA'S ENVIRONMENTAL BOONDOGGLE

AKA 

OBAMA'S PAYOFF FOR VOTES

On Monday, Obama will come out with his "new" government rules to "help" in the fight against climate change. Once again the President will be paying off his political supporters like Tom Steyer, of Farallon Capital, who have pledged to contribute $100 million dollars to back "progressive" politicians. Why do I say that? First of all, one of the largest oil tycoons, Harold Hamm, has already pointed out that Steyer made a portion of his fortune by investing in fossil fuels. Now Tom Steyer is heavily invested in alternative energy companies that are economically unfeasible ... unless they receive government subsidies. 

The problem is that those government subsidies come from taxpayers like you and me so Obama is using our money to pay off his political supporters who in turn get ever larger subsidies from the government. It is the snowball that gets ever larger as it rolls down the hill but more importantly it is just morally and economically wrong. And to top it all off, these so-called "good guys" like Tom Steyer are nothing more that foxes in sheep's clothing. They know that everything they have invested in is economically impossible and they are intentionally misleading the public with their calls for investment in alternative energy. 

Why are subsidies for alternative energy wrong? Because the market will determine the best use of capital. More people have been brought out of poverty by fossil fuels for energy than any other good or service. China has brought over 500 million people out of horrendous poverty not with wind farms and solar power but with coal powered electricity. Take hydraulic fracturing (aka "fracking") for example. There was not huge government involvement or subsidies and yet these wells are producing enough energy for the United States that our oil imports have dropped from about 14 million barrels a day to about 9 million barrels a day. 

Obama takes credit for how well our country is doing with energy but how many acres of public land has be opened up for drilling? Zero. That right. The increase in production in energy in this country has zero help from the Obama administration and was all done on privately owned land. If anything, governments just get in the way and they just try to figure out ways to extract money from profitable businesses through taxation and regulation (which is just another form of taxation). 

Furthermore, Obama's interference with this countries energy boom will be a 1970 law that was not intended to regulate gases. I hope there will be a good challenge to Obama's overreaching use of his bully pulpit to push through more payoffs to his political supporters because the government is already broke and if anything we need to reduce the size of government to make food and energy prices stop going up. The money printing coming out of Washington, D.C. has reached epic proportions never before seen by a government sans Japan, Zimbabwe, Argentina, Venezuela or some other failed civilization.  
  
Read about Obama's payoff scheme by clicking the link below.

http://finance.yahoo.com/news/obamas-boldest-move-carbon-comes-perils-122734104--finance.html