Last week I wrote about the Obama new energy program to cut coal and gas fired power plants, which will raise the cost of our energy.
Marita Moon, is the executive director of Energy Makes America Great, Inc writes: “The fundamental objective of the Obama Clean Power Plan, is the phasing out of coal-fired power plants in favor of low or zero emission sources. It does this through three building blocks, one of which is to increase electricity generation from non-emitting renewable sources, such as solar and wind.”
Anyone who has tried to keep up with the developments in the Town of Forest and the company that wants to put up 40 plus wind turbines, knows how unpopular that idea is with local citizens. I wonder how unpopular a section of the countryside covered with solar panels would be?
A Spanish solar company called Abengoa is the largest recipient of taxpayers funding through Obama’s Stimulus Bill ($2.8 billion) but has been beset with corruption and allegations that it routinely violates U. S. immigration, environmental, and workplace safety laws.
In other bad news for our pocket book is China. Robert Romano, the senior editor for Americans for Limited Government, reports: “Beijing has launched a preemptive strike on the West and other emerging economies, devaluing its currency by about two percent in a move that now threatens to disrupt the balance of trade worldwide.
By weakening the Yuan now, China cheapens its exports, and this will cost jobs in the U.S.”
Donald Trump, a fierce China critic said on a CNN interview recently: “They’re just destroying us, they keep devaluing their currency until they get it right. They’re doing a big cut in the Yuan, and that’s going to be devastating for us.”
And still more bad news is a report from CNBC’s Patti Domm: “Increased pumping by OPEC as Chinese demand appears to be slacking could drive oil to the lowest prices since the peak of the financial crisis.” That should be good news for us motorists.
“West Texas intermediate crude futures skidded through the year’s lows and looked set to break into the $30s-per-barrel range after the Organization of the Petroleum Exporting Counties admitted to more pumping and China devalued its currency sending ripples through global markets.”
If the price of oil is so low, why is the price we pay at the pump going up? Last week it was $2.57 a gallon at Downing, but traveling to Hayward on Saturday, prices ranged as high as $2.84. I heard on T.V. the price increase was because of some refinery in Ohio or Indiana was broke down. Everyone wants to dig into our pocket books!
Thanks for reading! — Carlton