Breitling Oil and Gas Texas and California Morning Podcast #397

Against this picture of reality – and the embarrassment of the green energy debacle known as Solyndra – it’s surprising that the administration continues to push for green energy initiatives. But they forge on. And the president is clear who will be the energy winners (“green energy”) and who will be the losers (oil companies).

But we all know this is a recipe for economic hardship and higher energy prices for all Americans.

Here in the U.S., renewable energy efforts are being abandoned because of exorbitant costs and renewable energy’s inability to provide for consumers’ energy needs. The state of Maine has been promoting an offshore wind farm, but just recently the builder, Statoil, reneged on its planned $120 million investment in the project. Even with private investment, Maine energy consumers would have been stuck with a $200 million bill to actually use the wind-created energy.

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