energy crisis

Post image for Can Obama End Our “Addiction” to Foreign Oil?

In his speech earlier this week, President Obama took a brave and unprecedented stand against our nations reliance on foreign petroleum imports:

Now, here’s a source of concern, though. We’ve known about the dangers of our oil dependence for decades. Richard Nixon talked about freeing ourselves from dependence on foreign oil. And every President since that time has talked about freeing ourselves from dependence on foreign oil. Politicians of every stripe have promised energy independence, but that promise has so far gone unmet.

I talked about reducing America’s dependence on oil when I was running for President, and I’m proud of the historic progress that we’ve made over the last two years towards that goal, and we’ll talk about that a little bit. But I’ve got to be honest. We’ve run into the same political gridlock, the same inertia that has held us back for decades.

That has to change. That has to change. We cannot keep going from shock when gas prices go up to trance when they go back down — we go back to doing the same things we’ve been doing until the next time there’s a price spike, and then we’re shocked again. We can’t rush to propose action when gas prices are high and then hit the snooze button when they fall again. We can’t keep on doing that.

The United States of America cannot afford to bet our long-term prosperity, our long-term security on a resource that will eventually run out, and even before it runs out will get more and more expensive to extract from the ground. We can’t afford it when the costs to our economy, our country, and our planet are so high. Not when your generation needs us to get this right. It’s time to do what we can to secure our energy future.

Richard Nixon wasn’t the only one. As Jon Stewart pointed out last summer, the last eight administrations have warned against the alleged dangers of importing petroleum and provided a number of solutions to massively restructure the economy, none of which were successful. Stewart comments, “Fool me once, shame on you. Fool me twice, shame on me. Fool me eight times, am I a ****ing idiot?”

And yet we appear to be idiots, and more money will  be spent chasing pipe dreams with taxpayer money. The New York Times, today, congratulated Obama’s willingness to take on such a tough challenge and blamed the lack of progress on, wait for it, Republicans:

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Last week’s House Ways & Means Committee hearing on “scientific objectives for climate change legislation” contained much grist for skeptical mills.

Dr. James Hansen did not challenge any of Dr. John Christy’s specific arguments that UN climate models overestimate climate sensitivity. Instead, he advised Congress to ask the National Academy of Sciences for an “authoritative” assessment, because the science is “crystal clear.”

Hansen was quite harsh in criticizing Kyoto (an “abject failure”) and carbon trading (a politically unsustainable hidden tax for the benefit of special interests). He outlined a proposal for what he calls carbon “Tax & Dividend,” whereby 100% of the revenues would be refunded to the American people via monthly deposits to their bank accounts.

As I discuss here, Hansen’s beguiling proposal could decimate coal-based power in a decade or two, pushing electricity prices up faster than dividend payments increase, and saddling the economy with a growth-chilling energy crisis.