For some time now, I and others have been documenting the relentless assault on economic growth by the EPA under President Barack Obama. I feel like a broken record at times trying to beat this drum and get people to realize that while Obama doesn’t keep all of his campaign promises, destroying the coal industry is one that he has done everything he can to stay true to.
For anyone that paid attention during the 2008 presidential cycle, Obama made it clear that it was his intention to bankrupt the coal industry through regulation and legislation. Think it’s hyperbole? Listen to it from the horse’s mouth.
Obama’s dreams of green jobs have run into some snags lately. The bankruptcy of solar panel company Solyndra, which received half a billion dollars in loan guarantees, is not good for the goal of greenifying our lives. Objectively speaking, there is one simple reason that companies like Solyndra just couldn’t make ends meet: the prices that they need to charge for their products are simply too high to create true market demand.
However, market demand can also be altered by a lack of choice. For instance, if there was a cheaper form of liquid that could fuel my car, I’d most certainly gravitate towards it as opposed to the $3.50 per gallon price I’m currently paying for gasoline.
Unfortunately for me, no alternative liquid exists that is as cost effective as plain old gasoline, and unfortunately for the green industry, gasoline exists.
In the world of energy and power plants, the big kids on the block are coal and fossil fuels. They currently power the overwhelming vast majority of the country and despite rumors to the contrary, there’s still plenty of it to go around. This poses a problem for Obama’s green agenda and unfortunately for him, his Cap & Trade initiative fell flat in the Senate and in this political climate, no one dares bring it up again.
So since that kills his ability to approach this from a legislative standpoint, President Obama has moved to his old standby: Regulatory.
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