President Obama just released his fiscal 2015 budget[i] that spends lavishly on his pet projects including his epically-misnamed “all of the above” energy program. But, instead of keeping miners in their coal jobs that historically supplied the nation with most of its electricity, he is putting his dollars on ‘clean coal and natural gas’; instead of opening more federal lands to oil and gas drilling, he is taking away …
- In the Fiscal Year 2012, over $1 billion was spent on the energy investment tax credit.
- The federal government has spent over $27 billion in recent years on renewable tax subsidies.
- For Fiscal Years 2009-2012, renewables alone accounted for 50% of total tax subsidies for energy, but produced only 12% of the nation’s total electricity.
- Did you know Washington has wasted nearly $5 million by giving Macy's department store grants for solar power?
- Hoku Solar Power I, LLC, a company that recently filed for bankruptcy, was given over 2 million dollars in grant money.
President Obama’s Budget Prioritizes Waste Press Releases
WASHINGTON — Institute for Energy Research President Thomas Pyle released today the following statement in response to President Obama’s FY2015 budget:
“President Obama’s budget proposal reinforces his desire to continue the destructive energy policies that have marked his entire presidency. Despite calling it an ‘all-of-the-above-strategy’, the President’s budget priorities hamper affordable and reliable energy sources while propping up expensive and unreliable ones. In his budget, the President once again calls
On Monday, March 3, the Environmental Protection Agency (EPA) announced its Tier 3 regulations requiring U.S. refineries to further reduce their sulfur emissions from 30 parts per million to 10 parts per million beginning in 2017. EPA claims that to further reduce sulfur emissions would only increase gasoline prices by a fraction of a cent, but gasoline prices in the real world and the refinery industry refutes that claim. EPA …