Smart Money?

Or dumb Treasury Secretary? If this is a major concern of his, why isn't he at the EPA? How is this going to help a sinking economy?

It was one of the sharpest attacks yet on the oil and gas industry by a top Obama administration official, reinforcing the White House stance that new U.S. energy policy will focus on promoting renewable energy sources like wind and solar power and rely less on traditional fossil fuels like oil as America tackles climate change.

"We don't believe it makes sense to significantly subsidize the production and use of sources of energy (like oil and gas) that are dramatically going to add to our climate change (problem). We don't think that's good economic policy and we think changing those incentives is good for the country," Geithner told the Senate Finance Committee at a hearing on the White House's proposed budget for the 2010 spending year.

The Obama administration's budget would levy an excise tax on oil and natural gas produced in the Gulf of Mexico, raising $5.3 billion in revenue from 2011 to 2019.

Comments

[Mark Turner]

OK, this is an example of a policy (encouraging the development and use of alternative energy) I would classify as "nice to have", rather than "must have", at this juncture in a significant economic recession. I also question whether the cost per unit of "clean energy" is something that the average consumer is able and willing to support -- people care more about their out of pocket costs, not whether clean energy is producing their electricity, etc.

[Lala]

But in Staten Island (NY) the Bat Preservation League is complaining that the wind turbines are killing bats and mosquitoes. They want something done about it.

[mark l.]

so who is the point man on 'science' in the wh?
the treasury secretary?

[w3]

Treasury Secretary is an enviro-whacko and the Fed Reserve Chair is a health care control freak.

Yeah, this is definitely a stellar bunch of folks. I pray we survive this crap.

[WBestPresidentEver]

Screw all of these SOB'S and the damn donkeys they rode in on. I guess we can all go back to burning a lot more wood in our fireplaces in the winter and go to the old fashion paper fans to cool ourselves in the summer.
My light bill and my natural gas bill are already too high. I keep lights turned off all the time and and use more electric space heaters in the rooms we spend the most time instead of the furnice in the winter and burn wood in the fireplace sometimes.
In the summer time I use more ceiling fans and regular fans and the air is set to a higher number so it only cycles off and on when it is really a hot day.
I got a letter from our power company the other day that says they are installing new SMART METERS...claiming it will save their vehicles being on the road to have come out and read meters. It will all be done from within. The letter goes on to tell you that in the future they will be able to help you BETTER MANAGE YOU POWER USAGE. Yeah right...the more you use the more you pay I supose.
The USA is being screwed royally. I am pissed.

[mark l.]

does anyone believe geithner came up with this stuff on his own?

he is in such a doghouse right now, that the admin has him believing, correctly, that his job is on the line. Somebody sent him out there to shill wh enviro policy, and he had to do it. he looks like a dead man walking.

this guy is going under the bus, but he will come out swinging.

the next paul o'neill, with a lot more bitterness and material.

[Philip McDaniel]

“…that are dramatically going to add to our climate change (problem).”

Herein lies the problem. Knowingly or unknowingly a preponderance of Democrats and other assorted leftists have bought the “Global Warming” – no wait – “Man Made Climate Change” scam. They want to do away with coal, oil and natural gas fuels. They want to set up a ‘cap and trade’ exchange on carbon dioxide emissions – a thinly disguised tax on all of us.

If we do not fight them on this and win not only will we be economically ruined but numbers of our citizens will be put at health risk during cold months, especially if, as it seems, not only are we not experiencing ‘global warming’ but are entering another cooling period like the Dalton Minimum.
There is an abundance of information on the Internet regarding this. One of the best sites is http://wattsupwiththat.com/