Green Room

Obama Issues Green Energy Executive Order

posted at 7:24 am on September 4, 2012 by

 I guess the epic failure of Solyndra wasn’t a prophetic incident the Obama administration took seriously.  He has doubled down on his miserable green energy initiative with a new executive order.  The Blaze took excerpts from Reuters on the president’s announcement yesterday.

 ’Today, we are taking another step to strengthen American manufacturing by boosting energy efficiency for businesses across the nation,’ said President Obama.

‘This action will cut costs, increase efficiency, and help our businesses create strong, middle class jobs.  We’ll continue to do everything we can to put more people back to work and build an economy that lasts,’ he added.

The order, which aims to increase the number of cogeneration plants in the U.S. by 50 percent by 2020 and slash carbon emissions by 150 million tons per year, is the administration’s latest effort to ‘deploy cleaner and more efficient energy production in the country by working around political resistance to climate change and ‘green’ energy legislation on Capitol Hill,’ Reuters reports.

Furthermore,  ”the order dictates that the Departments of Energy, Commerce, and Agriculture, and the Environmental Protection Agency coordinate their actions to provide “policy and technical assistance” to states in order to ensure energy efficiency targets are being met. The order also ‘establishes a new national goal of 40 gigawatts of new combined heat and power capacity by 2020, a 50% increase from today,’ according to a statement from the White House.”

In all, “meeting this goal would save energy users $10 billion per year, result in $40 to $80 billion in new capital investment in manufacturing and other facilities that would create American jobs, and would reduce emissions equivalent to 25 million cars,’ the statement adds.”

This order still puzzles me since former Biden economic adviser Jared Bernstein has stated that clean energy doesn’t do much for job creation.

 

Additionally, back in January:

CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES’ subsidiary Eastern Energy and Solyndra.

SunPower landed a deal linked to a $1.2 billion loan guarantee last fall, after a French oil company took it over. On its last financial statement, SunPower owed more than it was worth.

First Solar was the biggest S&P 500 loser in 2011 and its CEO was cut loose – even as taxpayers were forced to back a whopping $3 billion in company loans.

Nobody from the Energy Department would agree to an interview.”

How safe were the loans?

“[Economist] Peter Morici replied… It’s, it is a junk bond…but it’s not even a good junk bond. It’s well below investment grade.

Was the Energy Department investing tax dollars in something that’s not even a good junk bond? Morici says yes.

This level of bond has about a 70 percent chance of failing in the long term,” he said.”

Does sounds like a sound investment for the American people?  In addition, is this executive order constitutional?  It certainly aims to circumvent legislative hurdles and therefore, as Mark Levin noted, Obama ”is legislating by presidential fiat!…this is unconstitutional.”

 

Courtesy of whitehouse.gov

Courtesy of whitehouse.gov

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cripe

cmsinaz on September 4, 2012 at 7:40 AM

It’s his policy in a nutshell….

we should just let him hand money to his campaign donors and cut out the middle men.

harlekwin15 on September 4, 2012 at 7:49 AM

we should just let him hand money to his campaign donors and cut out the middle men.

harlekwin15 on September 4, 2012 at 7:49 AM

I agree. The day after he’s out of office, he can do it all he wants.

GWB on September 4, 2012 at 9:31 AM

I think it should be clear to everybody by now, that this guy is not a President, he is a dictator.

November cannot come soon enough.

Sterling Holobyte on September 4, 2012 at 9:50 AM

This is the fascist part of Empty Chair’s makeup. Sect B part 3 is the reason there is no budget for 3 years. The money may not be available but the fed will always print what is needed by the regime.

Kissmygrits on September 4, 2012 at 10:18 AM

Romney’s first executive order should recind all of Zero’s EOs

1921 C DRUM on September 4, 2012 at 10:21 AM

I guess they didn’t teach obama in law school that you can’t make laws mother nature doesn’t agree with.

It reminds me of Bugs Bunny defying the law of gravity and claiming it was because he never studied law…. Maybe it’s the ears that remind me of that.

aniptofar on September 4, 2012 at 10:34 AM

Remember waaaaay back in history, when “Liberals” were accusing Bush and Darth Cheney of destroying the Constitution?

KMC1 on September 4, 2012 at 10:55 AM

This lost me when ”the order dictates that the Departments of Energy, Commerce, and Agriculture, and the Environmental Protection Agency coordinate their actions to” wasn’t followed by “cease all activities”.

cthulhu on September 4, 2012 at 11:05 AM

The presidency was never meant to be a vehicle for rule by diktat.

Hopeful that Nov. 6 will put and end to such shenanigans.

Difficultas_Est_Imperium on September 4, 2012 at 11:29 AM

Wonder if jarrett has her evil fingerprints on this? jarrett does have the ear of bho doesn’t she?

I agree 100% with ‘Romney’s first executive order should recind all of Zero’s EOs’!
L

letget on September 4, 2012 at 12:02 PM

Romneys’ first 4 days as POTUS will be consumed by cancelling Obama’s EOs.

Time well spent.

BobMbx on September 4, 2012 at 2:16 PM

And where does the money for “$40 to $80 billion in new capital investment in manufacturing and other facilities that would create American jobs” come from? These leftists simply don’t understand economies and the free market and the purpose of money. D’Anconia for Treasury Secretary!

321mdl on September 4, 2012 at 3:32 PM

In essence: Obeyme has promulgated an order, therefor the desired results will happen!

Olo_Burrows on September 5, 2012 at 4:34 AM