Literally hundreds of billions of dollars are involved and House Speaker Nancy Pelosi is only the latest to be found with her hand in the cookie jar.
Here’s the unvarnished truth: the world has been getting most of its energy from fossil fuels for over a century. During the 20th century we began to see the use of nuclear energy. In the US that path to “energy independence” was quashed by environmentalist allied with ignorant J-school Luddites in the MSM who predicted that nuclear power plants would blow up like atom bombs.
The modern environmental movement also managed to demonize fossil fuels to the extent that oil and gas exploration in and around the US was practically stopped. Ditto for the construction of new refineries for gas and heating oil.
So it’s no wonder that Americans are paying $4 per gallon for gasoline.
Which brings us to the way that robber barons like Pickens, allied with the MSM and the Democrats are on the way to making billions on “alternative energy.” The formula is simple: keep oil prices high, prevent the use of coal, stop nuclear power production, scare people with doomsday scenarios of global warming via “greenhouse gasses,” pass laws mandating the use of power sources that Pickens and the Greens own and rake in the billions as consumers get financially raped.
We are grateful that Glenn Reynolds has linked. Feel free to browse.
Tom Nelson remarks on the economics of wind power as a source of electricity and points out several facts that people who are open minded about this should know:
The problem is exacerbated by the need to keep the turbines turning even when there is no wind; otherwise mechanical problems can occur. So wind turbines are hooked up to a source of reliable energy like that from a coal-fired plant to keep the blades moving.
If, I hear you saying, you have to hook up the turbines to electricity from a coal-fired, natural gas or nuclear plant, why do you need them in the first place? Good question!
Who, in fact, really likes wind turbines? Answer: The people who make and install them. The reason for this is the tremendous federal subsidies involved. In 2006 alone, the federal tax incentives paid out cost taxpayers an estimated $2.75 billion.
Then, of course, is the fact that the wind does not blow all the time. According to energy industry expert Robert Bryce, in economic terms that means “electricity generated by wind costs more than twice as much as that generated by coal, natural gas, or nuclear power.”
That is why it's necessary for people who invest money in these "renewable energy" devices need to have powerful legislators on their side, keeping the price of fossil fuels high, keeping them off the market, and feeding the "renewable energy" industry subsidies from the treasury.
It's the way the modern day robber barons work. The only thing missing is Nancy Pelosi claiming that "...it's for the children." But she'll get to that in due time.