Presidential candidate Barack Obama promised that his policies would cause electricity rates to “skyrocket” and “bankrupt” any company trying to build a coal-fired generating plant. This is one promise he and his über-regulators are keeping.
President Obama energetically promotes wind and solar projects that require millions of acres of land and billions of dollars in subsidies to generate expensive, intermittent electricity and create (really centrally plan) jobs that cost taxpayers upwards of $220,000 apiece – most of them in China.
His Interior Department is locking up more coal and petroleum prospects, via “wild lands” and other designations, and dragging its feet on issuing leases and drilling permits.
Meanwhile, his Environmental Protection Agency is challenging shale gas drilling and fracking, and imposing draconian carbon dioxide (CO2) emission rules, now that Congress and voters have rejected cap-tax-and-trade.…