The Mackinac Center for Public Policy just released a study showing that by the time all federal and state loans, grants, subsidies, and tax credits are figured in, each Chevy Volt costs taxpayers upwards of $250,000.
James Hohman, the center’s assistant director of fiscal policy, counted a total of 18 government “deals” but didn’t include the fact that one-quarter of Volt’s manufacturer, General Motors, is owned by the federal government.
He counted not only incentives offered directly to GM or to the ultimate buyer, but also those offered to suppliers of parts and technology for the Volt. The Department of Energy, for example, awarded a $106 million grant to GM’s Brownstone plant that assembles the Volt’s batteries. The State of Michigan awarded $106 million to GM to retain jobs in its Hamtramck assembly plant. And Compact Power, the company that makes the Volt’s batteries, received $100 million in “refundable battery credits.”
Some of the subsidies and credits are extended over varying periods of time and some are dependent upon certain production “milestones” being achieved. He counted them all along with subsidies to companies vying to provide batteries for the Volt such as the support provided to A123 Systems. A123 lost the battery contract to Compact Power, but Hohman included their subsidies in his study as well.
As the debate over the Iranian regime’s pursuit of nuclear technology heats up, commentators are pointing out that just a few years ago, then-President George W. Bush was supplying know-how through the International Atomic Energy Agency (IAEA) to Middle Eastern governments that have a cozy relationship with Iran. In 2008 and 2009, for example, the Bush administration negotiated and signed a “Memorandum of Understanding” to help the sheikdoms of the United Arab Emirates develop nuclear energy capabilities. Former U.S. Secretary of State Condoleezza Rice finalized the atomic cooperation deal in January of 2009.
The controversial agreement allowed the sale of U.S. nuclear technology and hardware, which can be useful in atomic weapons programs, to the UAE. And the governments of the Emirates as well as the national government have a history of allowing sensitive technologies and materials to flow into the hands of the Iranian regime and other unsavory rulers, according to analysts, who cite lax export-control laws. Several Emirates-based entities have also been implicated in supplying military equipment to Iran.
The Bush administration insisted the security risk of nuclear cooperation with the Emirates was low. Despite concerns in Congress, however, President Obama has largely maintained the same stance.
Due to new federal air pollution regulations, more than 32 power plants across the country will be forced to close their doors, according to a recent Associated Press survey. Those plants, which are mostly coal-fired, discharge enough electricity to supply more than 22 million households, the survey notes, and their closure will lead to job layoffs, depleted tax revenues, and a considerable hike in electric bills. The areas that will be hit hardest are the Midwest and in the coal belt (Virginia, West Virginia, and Kentucky), where dozens of plants will likely be retired.
Two regulations are in question: One aims to curb air pollution in states downwind from pollutant-heavy power plants; and the second, which was finalized last week, would enact the first standards for mercury, acid gas, and other pollutants from plant smokestacks. In total, the new regulations could eliminate more than eight percent of coal-fired generation nationwide.
AP’s survey, the first of its kind, looked at the analyses by the Environmental Protection Agency (EPA) of plant retirements and interviewed 55 power plant operators about the effects on power supply and about their plans to deal with the new regulations.
The current political debate over “jobs” ignores a vital component of jobs and the economy: Government make-work jobs are simply another form of welfare; jobs produced by the private sector that help the economy are productive jobs. In places like North Dakota, where the economy is now benefiting from an oil boom, the importance of genuinely productive labor has been understood from the beginning of frontier America. The winter wheat farmers of the Dakotas led an unglamorous like of rising before dawn, eating a big breakfast by a hard-working wife who herself had worked long, hard days, and then turning the land into crops. These families created wealth; they work produced goods and services that people wanted.
Perhaps no job in America is more important than generating energy. Yet many parts of West Virginia today have high unemployment because the environmental regulations have made it virtually impossible or cost-prohibitive to extract coal, despite the fact that our nation has a huge reserve of this proven fuel. Oil, however, is considered the most vital fossil fuel for our nation.
Increasing the domestic production of oil would allow our nation to pursue a foreign policy guided only by our wish to remain independent, free, and peaceful. Buying more of our own oil, and less foreign oil, would lower America’s balance of trade as well. Expanding the supply of oil also would put downward pressure on the price of this vitally important product.
The synergetic bond between former House Speakers Newt Gingrich and Nancy Pelosi extends well beyond the 2008 climate-change commercial that has stirred heated criticism among conservatives, as the GOP presidential hopeful has cosponsored 418 bills in Congress with Pelosi. Such a revelation, particularly when coupled with Gingrich’s Freddie Mac connections, liberal-leaning views on illegal immigration, and support for an individual healthcare mandate, underscore Gingrich's waning support for true conservative principles.
Reports indicate that the predominant costs of implementing the Environmental Protection Agency’s new "green" economy regulations are job loss (as coal plants are forced to close) and mass blackouts. President Obama admitted in a 2008 interview that he is intent on shutting down the U.S. coal industry:
House Republicans, accelerating efforts to combat the frenetic influx of federal regulations that continue to flood the U.S. economy, passed the Regulatory Accountability Act (RAA) Friday, which would require all federal agencies to audit proposed rules more thoroughly before they are enacted, and make sure procedures for rulemaking follow proper steps. Federal courts would be more involved in the process, and regulators would be forced to examine potential costs and benefits of alternatives.
Opponents of the legislation claim it will emasculate environmental improvements, workplace safety, and the safety of children’s toys.
The 253-167 vote will move the regulation bill to the Democrat-led Senate, where analysts believe it is likely to be smothered. The White House vowed a veto before the vote took place, claiming the legislation would obstruct the federal government’s regulatory authority with unprecedented hurdles.
OMB Watch, a liberal advocacy group that monitors federal regulations and strives to make public the secretive actions of the federal Office of Management and Budget (OMB), blasted the bill in a press release. The organization’s president, Katherine McFate, stated, "Today, the House voted to bulldoze a half century of rulemaking procedures with the deliberately mislabeled Regulatory Accountability Act."
General Motors will buy Chevrolet Volts back from any owner who worries that their plug-in electric car will catch fire, the company’s CEO told the Associated Press in an interview Thursday. CEO Dan Akerson maintained that the vehicles are safe, but said GM is offering the buyback to ensure customer loyalty. The new offer expands a company offer made Monday to grant loaner cars to any owners fearful of their Volts catching fire.
During a government investigation into the safety of Chevy’s electric cars, three fires broke out days after side-impact crash tests were administered. GM officials, however, insisted that there is no threat of fires immediately following car crashes, as the fires occurred seven days to three weeks after the National Highway Traffic Safety Administration (NHTSA) performed the tests.
The crash tests punctured the cases of the batteries, and leaking battery coolant could have spurred the delayed ignition in the regulators’ undrained Volt batteries, Chevy spokesman Rob Peterson suggested. But Chevy is not planning a battry storage redesign at the moment. Considering that the fires did not occur until days later, some GM officials alleged that the crashed Volts were not stored properly. Still, the NHTSA has launched a safety probe into the battery malfunctions and has requested that other electric car manufacturers submit battery testing data as well.
Despite billions in taxpayer subsidies pumped into the so-called “green-energy” industry, almost 15,000 windmills — maybe more — have been left to rot across America. And while the turbines have been abandoned over a period of decades, the growing amount of “green junk” littering the American landscape is back in the headlines again this week.
Across the country, subsidized wind farms are meeting increasing resistance — and not just from taxpayers and electricity consumers forced to foot the bill. "If wind power made sense, why would it need a government subsidy in the first place?” wondered Heritage Foundation policy analyst Ben Lieberman, who deals with energy and environmental issues. “It's a bubble which bursts as soon as the government subsidies end."
It turns out that wind power is expensive and inefficient even in the best wind-farm locations in the world. And regular power plants always need to be on standby in case there is no wind, not enough wind, or even too much of it — a fairly regular occurrence.
That is why, when the tax subsidies run out, the towering metallic structures are often simply abandoned. In their wake: a scarred landscape and dead wildlife — the very same ills offered as justifications by administration officials for preventing oil exploration.
The Wall Street Journal virtually called the Obama administration’s efforts to create “green” jobs a joke, decrying the President’s efforts to jump-start the economy with them as mere “conjuring” and suggesting instead that he drop his “ideological illusions” and face reality.
The reality is that no matter how much of other people’s money the President throws at the “clean” renewable alternative energy sector to force it to generate jobs, his efforts have been an abysmal failure. The name Solyndra is now synonymous with “loser” and the Washington Post reported last month that Obama’s green loan program of $38 billion has created just 3,500 jobs in two years instead of the 65,000 anticipated by the White House.
Instead, real jobs are being created in the real energy industry — in Pennsylvania, North Dakota, Texas, Louisiana, and Oklahoma. In the first six months of this year, 18,000 new jobs were created in the natural gas business in Pennsylvania, with more than 200,000 jobs existing there today where none existed 10 years ago. Overall, the Journal reported that “oil and gas production … now employs some 440,000 workers, an 80% increase, or 200,000 jobs, since 2003. Oil and gas jobs account for more than one in five of all net new private jobs in that period.”