What Energy Is Draining The Treasury and Economy?

Truth in numbers. 

Hey folks

Obama is going around the country, talking about how we are wasting money on Big Oil, Coal, and Natural Gas. He is claiming that this is hurting the economy. Really? He is also calling for MORE money to be spent on "Green Energy." 

Let's see, we already know a lot of money has been funneled into "Green Energy Companies" that are not even there now. Lets see, the list is so far, Solar Trust of America, LLC. 2.1 BILLION, Solyndra, $500 million, Abound Solar, Energy Conversion Devices, BrightSource, LSP Energy, Evergreen Solar, Ener1, SunPower, Beacon Power, ECOtality, A123, Uni-Solar, Azure Dynamics, Nevada Geothermal Power NGP, Amonix. That's to date. Yet he continues to say Big Oil, Coal, and Natural Gas Subsidies are dragging the economy.

Well, lets look at that. 

COMPARING ENERGY SUBSIDIES

The Energy Subsidy Tally

The folks at the Institute for Energy Research used the Energy Department data to calculate

Subsidy per unit of electricity produced per megawatt hour:

Natural gas, oil and coal ……. $  .64
Hydropower…………………… $  .82
Nuclear………………………… $ 3.14
Wind…………………………… $56.29
Solar a whopping……………$775.64.

So for every tax dollar that goes to coal, oil and natural gas, wind gets $88 and solar $1,212.

After all the hype and dollars, in 2010 wind and solar combined for 2.3% of electric generation—2.3% for wind and 0% and a rounding error for solar. Renewables contributed 10.3% overall, though 6.2% is hydro. Some "investment."

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Fossil fuels accounted for 78% of U.S. energy production but received only 12.6% of tax incentives.
Renewables accounted for 11% of energy production but received 77% of the tax subsidies—
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Coal, oil, and natural gas industries paid more than $10 billion of taxes in 2009.
Wind and solar are net drains on the Treasury.

Posted by Jill Fallon at August 18, 2012 11:22 AM

"So my attitude is let's stop giving taxpayer subsidies to oil companies that don't need them, and let's invest in clean energy that will put people back to work right here in Iowa," he said. "That's a choice in this election."

The choice in this elections IS clear. Use our own energy resources that we have right here. Put people back to work, increase revenue to the Government to help pay down the debt, decrease the prices on everything, in a hurting economy. All while saving money from being thrown at companies that are not producing anything. Meanwhile, increasing our national security.

The Choice IS clear Barack. It isn't you or yours. 

Peter