President Obama is betting the economy and your children’s future on his dream that unproven energy ideas based on biofuels, solar, wind, and batteries not yet invented, will replace oil, coal and natural gas to ensure his place in history, as the visionary who “transformed” America.
The media didn’t pay much attention to Secretary of Energy Stephen Chu’s recent testimony to a House of Representatives hearing. But he disclosed what many already believed, that a lower gas price is not a goal of President Obama’s energy policy. The 90 minute video is on C-SPAN.
In his opening statement Secretary Chu chanted the Obama Administration’s talking points formulated to calm the American listener:
To promote economic growth and strengthen our security President Obama has called for an all of the above strategy that develops every source of American energy. The President wants to fuel our economy with domestic energy resources while increasing our ability to compete in the clean energy race.
Secretary Chu told the Congressmen that the Administration hopes to decrease America’s dependence on imported oil, but not by permitting producers to increase the supply of domestic oil, natural gas and coal, which America has in great abundance. Instead, the Administration is focused on, in Chu’s words, “next generation bio fuels, advanced battery and electric vehicle technologies.”
One of the Committee members, Rep. Alan Nunnelee (R-Miss.) asked some pointed questions.
Somehow we have to figure out how to boost the price of gasoline to the levels in Europe
What are those “levels in Europe?” About $8 per gallon.
The strategy is clear: President Obama and his supporters believe continuously increasing fossil fuel prices resulting from government imposed restrictions on supply will make their favored alternatives more price competitive.
We hear from the environmental Left that even if increased production were allowed it wouldn’t lower prices immediately, because it takes two or three years to explore and drill for new oil. True enough. But that’s the same rebuttal they offered to justify restrictions two years ago and five years ago and ten years ago. And, if President Obama’s policies remain in place we’ll hear it again when we wake up to $6.50 gas in March of 2014.