Thursday, January 31, 2013

Energy and Big Government

RealClearMarkets - Obama Lays Out the Case for Big Government: " . . . alternative energy, such as solar, wind, and biofuels, is more expensive than fossil fuels, especially natural gas, of which America has a 200-year supply due to hydrofracturing. Costly energy acts as a tax on the economy and reduces economic activity and employment. In 2015, generating a megawatt-hour of electricity with natural gas will cost between $49 and $79, according to estimates from the Electric Power Research Institute. That same quantity of energy produced from onshore wind will cost between $75 and $138, while generating it with solar photovoltaic will cost at least $242 and as much as $455. Mr. Obama says he doesn't want us to get left behind other countries in the alternative energy area. But Spain and Germany have halted subsidies for solar power because of its high cost. China makes wind turbines and solar panels to export to America, but less than two percent of Chinese electricity is generated by wind and solar. . . . "

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