Most notable is Schwenniger's assertion that Obama's clean energy initiative, which is supposed to bolster competitiveness, create jobs and reduce our dependence on foreign energy sources, will actually drag on U.S. economic growth in the short- and medium-term.
He cites subsidies for clean energy programs as the main culprit for two reasons: opportunity costs and foreign investment, rather than domestic investment.
"The program subsidizes the commercialization of inefficient wind and solar technologies, many of which are produced abroad, while ignoring more efficient alternatives that would cut America's oil import bill and reduce the overall cost of energy in the United States," he writes in his report. "It makes no economic sense, for example, to subsidize the installation of imported wind turbines when natural gas fired generators can produce an equivalent amount of energy for one-third to one-half the cost." (See: What Energy Problem: U.S. Oil Exports Are on the Rise)
The New Testament Documents
15 years ago