Leslie Stahl (CBS): Part of this [green technology investment] was supposed to be creating new jobs. Everything I’ve read there were not many jobs created.
Steven Koonin (DOE-ex): That’s correct.
Stahl: So what went wrong there?
Koonin: I didn’t say it would create jobs. Other people did.
Stahl: So you never thought it was gonna create ….
Koonin: I didn’t think it mattered as a job creation, no.
Last night (January 5, 2014), Leslie Stahl of 60 Minutes (CBS) exposed the green-technology boondoggle before a national audience.
The Cleantech Crash focused on venture-capitalist (and rent-seeker) Vinod Khosla, “the father of the Cleantech revolution.” Khosla has invested more than one billion dollars personally in approximately 50 energy startups, along with much taxpayer commitment. Yet his projects are in the red.…
Continue Reading‘You get what you pay for’ is a saying that is often invoked when the cheaper product disappoints. And when it comes to subsidizing agenda-driven intellectuals (versus open-minded scholars), you also get what you pay for–and way too much of it.
Such is the case in the greatly over-financed climate change/energy transformation field where the participants assume what must be debated.
Recently, the New York Times published a letter-to-the-editor under the title Carbon Capture. The missive stuck me as a problematic one in its public-policy leanings. And it (negatively) impressed me as an example of intellectual conceit,with both the problem and the solution being wildly exaggerated.
Here it is:
… Continue Reading“Possibly Unavoidable Answer on Climate,” by Eduardo Porter (Economic Scene, Nov. 20), is commendable for its recognition that we are in a race against time to reduce greenhouse gas emissions.
At the dawn of a new year, it is appropriate to take stock of America’s ever-giving oil and natural gas bounty—and realize that much more of a good thing is in store given market incentives to produce and consume.
Oil and natural gas are the energies of our lives. No hyperbole there. Oil and natural gas are the source of energy-intense fuels for transportation as well as warmth in the winter and cooling in the summer.
They’re also the building blocks for a number of products we use every day, making our lives more modern, more comfortable and safer. Every day 143 U.S. refineries convert an average of 15 million barrels of crude oil for these uses and more.
For 9.8 million Americans, the oil and natural gas industry supports their employment – directly, indirectly in supporting industries and across our economy in jobs that wouldn’t exist without oil and natural gas development.…
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